Vivani Medical Archives - Medical Design Sourcing

Vivani prices $15M offering to support long-term drug delivery implant

NanoPortal technology. [Image courtesy of Vivani]Vivani Medical (Nasdaq:VANI) announced today that it entered into a securities purchase agreement worth $15 million in proceeds.

The company entered the agreement with an institutional investor. It covers the purchase of just shy of 4 million shares of common stock and warrants to purchase common stock. Alameda, California-based Vivani priced the shares at $3.80 apiece. Warrants have the same exercise price, immediate exercisability upon issuance and an expiration date of three years post-issuance date.

Vivani did not list an intended use of proceeds, but funds could go toward the continued development of its drug delivery implant technology.

Get the full story at our sister site, Drug Delivery Business News.

8 drug delivery innovations you should know

Innovations in drug delivery never stop and, over the past 12 months or so, a wide variety have come under the spotlight.

Constant progress continues in the diabetes space, both in the form of insulin delivery and other drug delivery methods. Elsewhere, we see implants, patches, syringes and more showcasing just how many ways we can deliver therapeutics.

About a year ago, we clued in readers to a list of six drug delivery innovations they should know. Here, we provide a couple of updates on those and try to introduce a few more developments that you should know:

The latest in automated insulin delivery tech

Automated insulin delivery represents one of the most high-profile markets in drug delivery, with the technology providing potentially life-saving therapy for people with diabetes.

The Mobi automated insulin pump with the accompanying mobile app. [Image courtesy of Tandem Diabetes Care]Last year’s roundup included the already FDA-cleared Omn…

Vivani Medical wants to bring a subdermal drug delivery implant to the diabetes market

The Vivani NanoPortal technology. [Image courtesy of Vivani] Where some have tried and failed, Vivani Medical believes its drug-delivering implants can go the distance.

When Second Sight Medical and Nano Precision Medical merged last year, the rebranded company — Vivani Medical (Nasdaq:VANI)— had a goal: bring a six-month, subdermal drug delivery implant that treats conditions including type 2 diabetes to market.

CEO Dr. Adam Mendelsohn leads the way for the developer of the proprietary NanoPortal technology. His experience in drug delivery — and diabetes technology — goes back to his high school days.

Mendelsohn first interned at insulin pump maker MiniMed, which Medtronic eventually acquired. He moved onto a company developing implantable morphine delivery pumps for pain management. Boston Scientific ultimately acquired that company.

Then came Ph.D. work on transplanting pancreatic beta cells that could produce insulin for patients with type one diabet…

Second Sight Medical merges with Nano Precision Medical, rebrands as Vivani Medical

Second Sight Medical (Nasdaq:EYES) announced today that it completed its merger with Nano Precision Medical and rebranded.

In February, the two companies entered into a definitive agreement under which Nano Precision Medical (NPM) will merge with a wholly-owned subsidiary of Second Sight in an all-stock transaction, with NPM the surviving company under Second Sight’s ownership.

Get the full story at our sister site, Drug Delivery Business News.