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Vivani Medical Announces $8.25M Private Placement Equity Financing

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Vivani Medical (NASDAQ: VANI) has secured an $8.25 million private placement equity financing through the sale of 7,366,071 shares at $1.12 per share. The financing was arranged with an entity owned by Gregg Williams, the Company's board chairman.

The funding will extend the company's cash runway into Q2 2026 and accelerate the development of two key products:

  • NPM-139: A once or twice-yearly GLP-1 (semaglutide) implant for chronic weight management
  • NPM-115: A twice-yearly GLP-1 (exenatide) implant for chronic weight management

The private placement was priced 'at-the-market' under Nasdaq rules and will have multiple closing dates. The securities being sold have not been registered under the Securities Act of 1933.

Vivani Medical (NASDAQ: VANI) ha ottenuto un finanziamento di equity in private placement di 8,25 milioni di dollari attraverso la vendita di 7.366.071 azioni a 1,12 dollari per azione. Il finanziamento è stato organizzato con un'entità di proprietà di Gregg Williams, presidente del consiglio della società.

Il finanziamento estenderà la liquidità dell'azienda fino al secondo trimestre del 2026 e accelererà lo sviluppo di due prodotti chiave:

  • NPM-139: Un impianto GLP-1 (semaglutide) da somministrare una o due volte all'anno per la gestione del peso cronico
  • NPM-115: Un impianto GLP-1 (exenatide) da somministrare due volte all'anno per la gestione del peso cronico

Il private placement è stato valutato 'al prezzo di mercato' secondo le regole Nasdaq e avrà più date di chiusura. I titoli venduti non sono stati registrati ai sensi del Securities Act del 1933.

Vivani Medical (NASDAQ: VANI) ha conseguido un financiamiento en colocación privada de 8,25 millones de dólares mediante la venta de 7.366.071 acciones a 1,12 dólares por acción. El financiamiento fue organizado con una entidad propiedad de Gregg Williams, presidente del consejo de la empresa.

El financiamiento ampliará la liquidez de la empresa hasta el segundo trimestre de 2026 y acelerará el desarrollo de dos productos clave:

  • NPM-139: Un implante GLP-1 (semaglutida) para la gestión crónica del peso, que se administra una o dos veces al año
  • NPM-115: Un implante GLP-1 (exenatida) para la gestión crónica del peso, que se administra dos veces al año

La colocación privada se valoró 'a precio de mercado' según las reglas de Nasdaq y tendrá múltiples fechas de cierre. Los valores vendidos no han sido registrados bajo la Ley de Valores de 1933.

비바니 메디컬 (NASDAQ: VANI)은 1주당 1.12달러에 7,366,071주를 판매하여 825만 달러의 사모펀드 자금을 확보했습니다. 이 자금 조달은 회사 이사회 의장인 그렉 윌리엄스가 소유한 기관과 함께 진행되었습니다.

이 자금은 회사의 현금 유동성을 2026년 2분기까지 연장할 것이며, 두 가지 주요 제품의 개발을 가속화할 것입니다:

  • NPM-139: 만성 체중 관리를 위한 연 1회 또는 2회 투여하는 GLP-1(세마글루타이드) 임플란트
  • NPM-115: 만성 체중 관리를 위한 연 2회 투여하는 GLP-1(엑세나타이드) 임플란트

사모펀드는 나스닥 규정에 따라 '시장 가격'으로 평가되었으며, 여러 차례의 마감일이 있을 것입니다. 판매되는 증권은 1933년 증권법에 따라 등록되지 않았습니다.

Vivani Medical (NASDAQ: VANI) a sécurisé un financement par placement privé de 8,25 millions de dollars grâce à la vente de 7.366.071 actions à 1,12 dollar par action. Le financement a été organisé avec une entité détenue par Gregg Williams, le président du conseil d'administration de l'entreprise.

Ce financement prolongera la trésorerie de l'entreprise jusqu'au deuxième trimestre 2026 et accélérera le développement de deux produits clés :

  • NPM-139 : Un implant GLP-1 (sémaglutide) à administrer une ou deux fois par an pour la gestion chronique du poids
  • NPM-115 : Un implant GLP-1 (exénatide) à administrer deux fois par an pour la gestion chronique du poids

Le placement privé a été évalué 'au prix du marché' selon les règles de Nasdaq et aura plusieurs dates de clôture. Les titres vendus n'ont pas été enregistrés en vertu de la loi sur les valeurs mobilières de 1933.

Vivani Medical (NASDAQ: VANI) hat eine private Platzierung von 8,25 Millionen Dollar durch den Verkauf von 7.366.071 Aktien zu je 1,12 Dollar pro Aktie gesichert. Die Finanzierung wurde mit einer von Gregg Williams, dem Vorsitzenden des Unternehmensvorstands, betriebenen Einrichtung arrangiert.

Die Finanzierung wird die Liquidität des Unternehmens bis ins zweite Quartal 2026 verlängern und die Entwicklung von zwei Schlüsselprodukten beschleunigen:

  • NPM-139: Ein einmal oder zweimal jährlich verabreichtes GLP-1 (Semaglutid) Implantat zur langfristigen Gewichtsregulation
  • NPM-115: Ein zweimal jährlich verabreichtes GLP-1 (Exenatid) Implantat zur langfristigen Gewichtsregulation

Die private Platzierung wurde 'zum Marktpreis' gemäß den Nasdaq-Regeln bewertet und wird mehrere Abschlussdaten haben. Die verkauften Wertpapiere wurden nicht gemäß dem Securities Act von 1933 registriert.

Positive
  • Secured $8.25M in new equity financing
  • Extended cash runway into Q2 2026
  • Funding enables accelerated development of two GLP-1 drug implants
  • At-market pricing indicates fair value transaction
Negative
  • Potential shareholder dilution from issuance of 7.37M new shares
  • Securities not registered under Securities Act, limiting transferability
  • Heavy reliance on single investor (board chairman) for financing

Insights

Vivani Medical's $8.25 million private placement represents a strategic financing move that extends the company's operational runway well into Q2 2026. At the current $1.12 per share price—exactly matching the market price—this transaction was conducted with the company's board chairman, constituting an insider transaction that avoids dilution at a discount.

The deal structure is particularly notable as it provides at-market financing without requiring a potentially challenging public offering for this $65 million market cap company. This approach maintains existing shareholders' positions while adding approximately 7.37 million new shares to the outstanding count, all acquired by an entity connected to Gregg Williams, the board chairman.

This financing specifically targets accelerating development of NPM-139, their semaglutide implant designed for once or twice-yearly administration for weight management, and supporting continued development of NPM-115, their exenatide implant. Both products represent potential innovations in GLP-1 delivery technology, focusing on significantly reduced dosing frequency.

While securing additional runway is inherently positive for development-stage companies, the modest size of this financing relative to typical clinical development costs suggests it represents milestone funding rather than comprehensive program financing. The transaction demonstrates internal confidence but doesn't fundamentally transform the company's financial position or market opportunity.

This financing specifically bolsters Vivani's development pathway for two key GLP-1 receptor agonist implants—NPM-139 (semaglutide) and NPM-115 (exenatide)—both targeting the chronic weight management market. The funding allocation prioritizes accelerating development of the semaglutide implant, which aligns with market dynamics as semaglutide-based treatments have demonstrated superior efficacy in weight reduction.

Vivani's technological approach addresses a significant unmet need in the GLP-1 market: dosing frequency. By developing implantable formulations designed for once or twice-yearly administration, the company aims to significantly improve the treatment experience compared to daily or weekly injections currently dominating the market.

The extended runway into Q2 2026 provides crucial development stability, potentially allowing the company to reach meaningful clinical milestones without immediate financing pressure. This matters significantly for biotech companies at Vivani's stage, where development continuity often directly impacts program success.

However, the announcement lacks specific development timelines, regulatory milestone targets, or clinical stage progression metrics. This private placement appears to provide breathing room for continued development rather than signaling an imminent breakthrough or accelerated approval pathway. The company's miniaturized implant technology represents an interesting approach to drug delivery innovation, but considerable development and regulatory work clearly remains ahead.

Financing strengthens balance sheet, extending expected runway into the second quarter of 2026

Enables accelerated development of NPM-139, Company’s once or twice-yearly GLP-1 (semaglutide) implant under development for chronic weight management

ALAMEDA, Calif., March 27, 2025 (GLOBE NEWSWIRE) -- Vivani Medical, Inc. (Nasdaq: VANI) (“Vivani” or the “Company”), a clinical-stage biopharmaceutical company developing miniature, ultra long-acting drug implants, today announced that it has entered into a securities purchase agreement to issue and sell an aggregate of 7,366,071 shares, each at a price of $1.12 per share, expected to result in gross proceeds of approximately $8.25 million in a private placement.

The Company expects the gross proceeds from this private placement to extend its cash runway into the second quarter of 2026, enabling accelerated development of NPM-139, its once or twice-yearly GLP-1 (semaglutide) implant under development for chronic weight management, and continued development of NPM-115, its twice-yearly GLP-1 (exenatide) implant which is also under development for chronic weight management.

The Company has entered into a securities purchase agreement with an entity beneficially owned by Gregg Williams, the Chairman of the Company’s board of directors. The private placement was priced “at-the-market” under the rules and regulations of The Nasdaq Stock Market LLC. The private placement is expected to have several closing dates.

The securities being sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state, and may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

About Vivani Medical, Inc.

Leveraging its proprietary NanoPortal™ platform, Vivani develops biopharmaceutical implants designed to deliver drug molecules steadily over extended periods of time with the goal of guaranteeing adherence, and potentially to improve patient tolerance to their medication. Vivani’s lead program, NPM-115, is a six-month, subdermal, GLP-1 (exenatide) implant under development for chronic weight management in obese or overweight individuals. Vivani’s emerging pipeline includes NPM-139 (semaglutide implant) which is also under development for chronic weight management. The semaglutide implant is being initially developed as a twice-yearly implant but it has the added potential benefit of once-yearly administration. NPM-119 refers to the Company’s six-month, subdermal, GLP-1 (exenatide) implant under development for the treatment of type 2 diabetes. These NanoPortal™ implants are designed to provide patients with the opportunity to realize the full potential benefit of their medication by avoiding the challenges associated with the daily or weekly administration of orals and injectables. Medication non-adherence occurs when patients do not take their medication as prescribed. This affects an alarming number of patients, approximately 50%, including those taking daily pills. Medication non-adherence, which contributes to more than $500 billion in annual avoidable healthcare costs and 125,000 potentially preventable deaths annually in the U.S. alone, is a primary and daunting reason why obese or overweight patients, and patients taking type 2 diabetes or other chronic disease treatments, face significant challenges in achieving positive real-world effectiveness. While the current GLP-1 landscape includes over 50 new molecular entities under clinical stage development, Vivani remains confident that its highly differentiated portfolio of miniature long-acting GLP-1 implants have the potential to provide an attractive therapeutic option for patients, prescribers and payers. For more information, please visit www.vivani.com.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “target,” “believe,” “expect,” “will,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” and other similar expressions that in this press release, including statements regarding Vivani’s business, products in development, including the therapeutic potential thereof, the planned development therefor, the completion of the LIBERATE-1™ trial and reporting of trial results, Vivani’s emerging development plans for NPM-115, NPM-139, NPM-119, or Vivani’s plans with respect to Cortigent Inc. (“Cortigent”), a Delaware corporation and its wholly-owned subsidiary, and Vivani’s technology, strategy, cash position and financial runway. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on Vivani’s current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Vivani’s control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and outcomes to differ materially from those indicated in the forward-looking statements include, among others, risks related to the development and commercialization of Vivani’s products, including NPM-115, NPM-139, and NPM-119; delays and changes in the development of Vivani’s products, including as a result of applicable laws, regulations and guidelines, potential delays in submitting and receiving regulatory clearance or approval to conduct Vivani’s development activities; risks related to the initiation, enrollment and conduct of Vivani’s planned clinical trials and the results therefrom; Vivani’s history of losses and Vivani’s ability to access additional capital or otherwise fund Vivani’s business; market conditions and the ability of Cortigent to complete its intended spin-off from the Company. There may be additional risks that the Company considers immaterial, or which are unknown. A further list and description of risks and uncertainties can be found in the Company’s most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission filed on March 26, 2024, as updated by the Company’s subsequent Quarterly Reports on Form 10-Q. Any forward-looking statement made by Vivani in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of added information, future developments or otherwise, except as required by law.

Company Contact:
Donald Dwyer
Chief Business Officer
info@vivani.com
(415) 506-8462

Investor Relations Contact:
Jami Taylor
Investor Relations Advisor
investors@vivani.com
(415) 506-8462

Media Contact:
Sean Leous
ICR Healthcare
Sean.Leous@ICRHealthcare.com
(646) 866-4012


FAQ

How much funding did Vivani Medical (VANI) raise in its March 2025 private placement?

Vivani Medical raised $8.25 million through the sale of 7,366,071 shares at $1.12 per share.

What will Vivani Medical use the $8.25M private placement proceeds for?

The proceeds will extend cash runway into Q2 2026 and accelerate development of NPM-139 and NPM-115, both GLP-1 implants for weight management.

What is the price per share for Vivani Medical's March 2025 private placement?

The private placement shares were priced at $1.12 per share, which was 'at-the-market' under Nasdaq rules.

Who is the primary investor in Vivani Medical's March 2025 private placement?

The investment came from an entity beneficially owned by Gregg Williams, Vivani's board chairman.
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