Vivani Medical Announces $8.25M Private Placement Equity Financing

Core Viewpoint - Vivani Medical, Inc. has announced a private placement of 7,366,071 shares at $1.12 per share, expected to generate approximately$8.25 million in gross proceeds, which will extend its cash runway into the second quarter of 2026 and support the accelerated development of its GLP-1 implants for chronic weight management [1][2][3]. Group 1 - The private placement will enable the accelerated development of NPM-139, a GLP-1 (semaglutide) implant, and continued development of NPM-115, a GLP-1 (exenatide) implant, both aimed at chronic weight management [2][6]. - The securities purchase agreement was made with an entity owned by Gregg Williams, the Chairman of the Company's board, and the placement was priced "at-the-market" under Nasdaq regulations [3][4]. - The securities sold in this private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the U.S. without an effective registration statement or applicable exemption [4][5]. Group 2 - Vivani Medical is focused on developing miniature, ultra long-acting drug implants using its proprietary NanoPortal™ platform, which aims to improve medication adherence and patient tolerance [6]. - The company's lead program, NPM-115, is a six-month subdermal GLP-1 (exenatide) implant for chronic weight management, while NPM-139 is being developed as a twice-yearly implant with potential for once-yearly administration [6]. - Medication non-adherence affects approximately 50% of patients, contributing to over $500 billion in annual avoidable healthcare costs in the U.S., highlighting the need for innovative delivery systems like Vivani's implants [6].