ALAMEDA, Calif. — September 17, 2025 — Leads & Copy — Vivani Medical, Inc. (NASDAQ: VANI) announced its board has set October 8, 2025, as the record date for the spin-off of Cortigent, Inc., its subsidiary developing brain implant devices.
Vivani shareholders as of the record date will receive Cortigent stock. Cortigent is expected to trade on Nasdaq under the symbol “CRGT,” pending approvals. The distribution date and share dividend ratio will be announced later.
Vivani CEO Adam Mendelsohn, PhD, stated the goal is to create two companies focused on their expertise areas, allowing shareholders to participate in Cortigent’s future. Cortigent CEO Jonathan Adams, MBA, said the spin-off will position Cortigent in neuromodulation and brain-computer interface technologies.
The spin-off aims to enhance strategic flexibility, allowing management teams to focus on their strategies and adopt optimal capital structures. Post spin-off, boards and management can better facilitate growth and explore acquisitions.
Cortigent, headquartered near Los Angeles, is developing brain implant devices. Vivani will provide transition services as needed. The spin-off is expected by late-2025, pending conditions like tax opinion and SEC effectiveness of Form 10.
ThinkEquity is the exclusive financial advisor for the spin-off.
Cortigent is developing brain implant devices using neuroscience, microelectronics, and AI. Their technology includes neurostimulation brain-computer interfaces. Their predecessor previously marketed Argus® II, the first device to obtain FDA approval to treat a rare form of blindness. Cortigent’s investigational system, Orion®, is designed to treat blindness caused by common conditions including glaucoma and diabetic retinopathy. Cortigent is also applying its precision neurostimulation technology to improving recovery of arm and hand motion in patients with paralysis due to stroke.
Vivani develops biopharmaceutical implants using its NanoPortal™ platform, delivering drugs steadily over time. They are developing GLP-1 based implants for metabolic diseases like obesity and type 2 diabetes.
Donald Dwyer, Chief Business Officer, info@vivani.com, (415) 506-8462
Jami Taylor, Investor Relations Advisor, investors@vivani.com, (415) 506-8462
Sean Leous, ICR Healthcare, Sean.Leous@ICRHealthcare.com, (646) 866-4012
Source: Vivani Medical, Inc.
