Vivani Medical merges Cortigent with ClearOne to form Nasdaq BCI Company

USA—Vivani Medical has agreed to merge its neurotechnology subsidiary, Cortigent, with communications technology company ClearOne, creating a publicly traded brain-computer interface (BCI) company.

The combined business will operate as Cortigent Holdings and trade on Nasdaq under the ticker symbol CRGT once the transaction closes, expected in the third quarter of 2026, subject to shareholder and regulatory approvals.

Under the agreement, Vivani will receive 12.5 million shares of ClearOne common stock.

The biotech company is expected to own between 59.4% and 67.5% of the combined business, while existing ClearOne shareholders will retain between 12.7% and 14.4% of the outstanding equity.

The transaction has already received unanimous approval from the boards of both companies.

Funding to advance neurotechnology pipeline

Alongside the merger, ClearOne plans to raise between US$10 million and US$15 million through a share offering.

The funding will support the development of Cortigent’s pipeline of implantable neurotechnology devices.

Although ClearOne is best known for professional audio, video, and collaboration systems used in boardrooms, classrooms, and conference facilities, that business will become a non-core legacy operation after the merger.

Instead, the new company will focus on developing brain-computer interface technologies for treating neurological conditions.

The announcement sparked strong investor interest.

ClearOne shares more than doubled on 2 July, rising from US$3.60 at the market open to US$6.48 at close, giving the company a market value of approximately US$17.34 million.

 Vision restoration and stroke recovery

Cortigent’s leading programmes include Orion, an investigational cortical implant designed to restore functional vision in people blinded by conditions such as glaucoma and diabetic retinopathy.

The device received the US Food and Drug Administration’s Breakthrough Device designation and completed a six-year Early Feasibility Study in 2025, producing encouraging safety and clinical results.

The company also owns Argus II, the first retinal prosthesis approved by the FDA for treating severe retinitis pigmentosa.

Originally developed by Second Sight Medical, the technology became part of Vivani after Second Sight merged with Nano Precision Medical in 2022.

In addition, Cortigent is developing a new neurostimulation device designed to accelerate recovery of arm and hand movement in patients with partial paralysis following a stroke.

Strategic shift for Vivani

Vivani Chief Executive Officer Adam Mendelsohn said the transaction marks the culmination of years of work to establish Cortigent as an independent public company.

He added that separating the business will reduce Vivani’s spending on neurotechnology while allowing the company to concentrate on advancing its portfolio of miniature, ultra-long-acting drug implants.

Cortigent Chief Executive Officer Jonathan Adams said the planned financing would help accelerate development of the Orion artificial vision platform and the company’s stroke rehabilitation programme.

Meanwhile, ClearOne Board Chairman Eric Robinson said that Cortigent’s mission to restore sight and motor function through precision neurostimulation addresses significant unmet medical needs and provides a strong foundation for the combined company’s future growth.

According to GlobalData, the global neurology devices market is projected to exceed US$25 billion by 2034.

Separately, Morgan Stanley estimates the early addressable US healthcare market for brain-computer interface technology at around US$80 billion, with the potential to expand to US$320 billion as the technology matures.