Vivani Medical announces $8.25M private placement equity financing
03/27/25, 11:36 AM
Location
alamedaMoney
$8.25 million
Industry
biopharma
pharmaceutical
biotechnology
health care
Type
partnership
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 Info
Location
alameda, california, united states
Additional Info
Vivani Medical, Inc. is an innovative, preclinical-stage biopharmaceutical company focused on developing novel, long-term drug implants leveraging its proprietary NanoPortal™ platform. The company's lead programs NPM-115 and NPM-119 are miniature, six-month, GLP-1 implants in development for the treatment of chronic weight management in obese or overweight patients and type 2 diabetes, respectively.