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Vivani Medical announces $8.25M private placement equity financing

Mar 27, 2025•about 1 year ago

Contract Type

partnership

AlamedaBiotechnologyHealth CarePharmaceuticalBiopharma

Description

Vivani Medical, Inc. announced a securities purchase agreement to issue and sell an aggregate of 7,366,071 shares at a price of $1.12 per share, resulting in gross proceeds of approximately $8.25 million in a private placement. The financing is aimed at extending the company's expected cash runway into the second quarter of 2026 and enabling accelerated development of NPM-139, the company’s GLP-1 (semaglutide) implant for chronic weight management.

Company Information

Company

Vivani

Location

Alameda, California, United States

About

Vivani Medical is a pre-clinical-stage developer of long-term pharmaceutical implants aimed at revolutionizing the treatment of patients with chronic diseases. Leveraging its proprietary NanoPortal™ platform, Vivani’s portfolio of tiny, sub-dermal drug implants address medication non-adherence by providing steady levels of medication over a target duration of six months or longer. Vivani is developing two miniature, long-term GLP-1 implants for the treatment of obesity and chronic weight management: NPM-115 (exenatide) and NPM-139 (semaglutide). In addition, the company is developing NPM-119, a lower dose exenatide implant for the treatment of type 2 diabetes.

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