Vivani Medical has entered into a definitive agreement to merge its wholly owned subsidiary, Cortigent, with a wholly owned subsidiary of ClearOne (Nasdaq: CLRO). Upon the deal’s consummation, Cortigent will become a wholly owned subsidiary of ClearOne, and the combined entity will be renamed “Cortigent Holdings, Inc.” trading under the Nasdaq ticker “CRGT.” The newly structured company will be majority-owned by Vivani but will operate independently under a reconstituted board of directors.
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In connection with the transaction, ClearOne has committed to launching a concurrent financing round to raise between $10 million and $15 million. The boards of both companies have unanimously approved the merger, and the transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and shareholder approvals. This agreement effectively restarts Vivani’s efforts to separate the Cortigent business unit after previous spin-off plans were withdrawn late last year.
The separation is designed to allow both entities to focus entirely on their respective therapeutic sectors. Vivani intends to fully dedicate its resources to advancing its miniature, ultra long-acting GLP-1 drug delivery implants. Meanwhile, the new capital will allow Cortigent to accelerate the development of its precision neurostimulation pipeline, which includes the Orion visual cortical prosthesis system for treating blindness and a separate clinical device aimed at enhancing arm and hand mobility for stroke survivors.
