Vivani Medical secures $10M equity financing for semaglutide implant

Vivani Medical, Inc. (NASDAQ: VANI) announced a $10 million equity financing agreement and reported financial results for the second quarter ended June 30, 2025. The biopharmaceutical company develops miniaturized drug implants for chronic disease treatment.

On August 11, 2025, Vivani entered into a share purchase agreement to sell 7,936,507 shares of common stock at $1.26 per share to two investors, including an entity owned by Chairman Gregg Williams. The transaction provides approximately $10 million in gross proceeds and extends the company's financial runway into the second half of 2026.

The funding supports accelerated development of NPM-139, a semaglutide implant for chronic weight management. Preclinical studies showed approximately 20% weight loss maintained for over six months with a single implant. The company anticipates initiating clinical development of NPM-139 in 2026.

Vivani also reported positive results from its LIBERATE-1 Phase 1 clinical study of NPM-115, an exenatide implant. The study demonstrated a positive safety and tolerability profile while meeting primary objectives.

For the second quarter, Vivani reported a net loss of $7.1 million, compared to $5.3 million in the prior year period. Research and development expenses increased to $4.8 million from $3.5 million year-over-year. Cash and cash equivalents totaled $8.1 million as of June 30, 2025, down from $19.7 million at December 31, 2024.

The company plans to spin off its Cortigent division, which develops brain implant devices, as an independent publicly traded company in the third or fourth quarter of 2025. Vivani also appointed Anthony Baldor as Chief Financial Officer in June 2025.

Including recent equity agreements, Vivani has committed capital of $21.25 million through July 2026, according to the press release statement.

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