Vivani Spins Out Brain-Computer Interface Business Through Nasdaq Reverse Merger

The reverse merger will create Nasdaq-listed Cortigent Holdings, providing Vivani's brain-computer interface business with independent funding to accelerate vision restoration and neurorehabilitation technologies.

Vivani Medical has agreed to spin out its brain-computer interface (BCI) business through a reverse merger with Nasdaq-listed communications technology company ClearOne, creating a new publicly traded neurotechnology company focused on restoring vision and motor function.

Once the transaction closes, expected in the third quarter of 2026, ClearOne will be renamed Cortigent Holdings and will trade on the Nasdaq under the ticker CRGT.

The move gives Vivani’s neurotechnology division independent access to public capital while allowing the parent company to concentrate on its long-acting drug implant portfolio.

Creating a Standalone Brain-Computer Interface Company

Under the agreement, Vivani will receive 12.5 million shares of ClearOne common stock and will own between 59.4% and 67.5% of the combined company, depending on the final financing structure.

Existing ClearOne shareholders will retain between 12.7% and 14.4% ownership.

Although ClearOne currently develops professional audio and video collaboration systems, that business will become a legacy, non-core operation following completion of the merger as the company shifts its strategic focus towards neurotechnology.

Investor enthusiasm was immediate. Following the announcement, ClearOne's share price more than doubled during trading, highlighting growing interest in the brain-computer interface sector.

Building a Pipeline Focused on Restoring Vision and Movement

The new Cortigent Holdings will inherit a portfolio of implantable neurostimulation technologies targeting significant unmet neurological needs.

Its lead programmes include:

• Orion, a brain-computer interface implant designed to restore functional vision in blind patients.

• Argus II, a retinal prosthesis intended to provide artificial vision for people living with severe retinitis pigmentosa.
  

The company is also developing a next-generation neurostimulation device designed to help restore arm and hand movement following stroke-related paralysis, expanding its focus beyond vision restoration into neurorehabilitation.

These technologies originated from Second Sight Medical before becoming part of Vivani following its merger with Nano Precision Medical in 2022.

Funding Future Development

Alongside the merger, ClearOne plans to raise between $10 million and $15 million through a share offering to support continued clinical and product development.

For Vivani, the transaction also delivers strategic benefits beyond financing.

By separating Cortigent into an independent public company, Vivani expects to reduce ongoing investment requirements while sharpening its focus on developing long-acting implantable drug delivery technologies.

The structure allows both businesses to pursue distinct growth strategies while maintaining Vivani as the majority shareholder in the new neurotechnology company.

Why the Deal Matters

The transaction reflects several broader trends emerging across healthcare innovation:

• Brain-computer interface technologies are attracting increasing commercial and investor interest.

• Companies are using reverse mergers to access public markets more quickly than through traditional IPOs.

• Neurotechnology developers are expanding beyond research into commercially focused clinical pipelines.

• Investors are showing growing confidence in implantable devices targeting neurological disorders and rehabilitation.
  

The market opportunity is substantial. Industry forecasts project the global neurology devices market to exceed $25 billion by 2034, while some analysts estimate the long-term addressable market for healthcare-focused brain-computer interfaces could eventually reach hundreds of billions of dollars as the technology matures.

Summary

Vivani Medical has agreed to merge its Cortigent neurotechnology business with ClearOne, creating a new publicly listed company dedicated to brain-computer interface technologies.

The transaction provides Cortigent with independent access to public markets while enabling Vivani to focus on its core drug delivery platform.

As investment and clinical development accelerate across neurotechnology, the deal highlights the growing commercial momentum behind brain-computer interfaces aimed at restoring vision, movement and neurological function.

---

Discover how nuaxia can support your next medical education initiative:

• Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector 

• Contact us on: support@nuaxia.com