Vivani Medical announced a definitive merger agreement for its wholly-owned subsidiary, Cortigent, Inc., to merge with a subsidiary of ClearOne, Inc. In a separate announcement, Vivani also disclosed an agreement with Novo Nordisk to evaluate its semaglutide drug implant, NPM-139, for chronic weight management.
Key Details
- Merger Transaction: On July 1, 2026, Vivani agreed to merge its subsidiary Cortigent with ClearOne's subsidiary, making Cortigent a wholly-owned subsidiary of ClearOne.
- Merger Consideration: Vivani will receive 12,500,000 shares of ClearOne common stock in the transaction, subject to a lock-up agreement of one year for 50% of the shares and two years for the remaining 50%.
- Contingent Financing: The merger's closing is conditional upon ClearOne raising a minimum of $10 million and a maximum of $15 million in a public financing.
- Novo Nordisk Agreement: Vivani entered into an agreement with Novo Nordisk to evaluate NPM-139, its implant that utilizes the NanoPortal platform technology for the delivery of semaglutide.