By Karen Roman
Vivani Medical, Inc. (Nasdaq: VANI) said it expects to spin off Cortigent, Inc., its brain implant devices division, as an independent publicly-traded company.
Vivani aims to create two companies focused on driving long term value creation in their respective therapeutic areas of expertise, it stated.
The company plans to complete the spin-off and Nasdaq listing during or prior to the third quarter of 2025, it said.
“As an independent company, we will intensify our efforts to develop and commercialize life-changing medical devices for people with critical unmet medical needs such as blindness, paralysis due to stroke, and potentially other conditions.” said Jonathan Adams, Cortigent’s CEO, who will remain in his position after the spin-off.
