Vivani Medical, Inc., a Delaware-based company specializing in electromedical and electrotherapeutic apparatus, held its 2024 Annual Meeting of Stockholders on Wednesday. A quorum was reached with over 35 million shares represented, and key corporate decisions were made.
During the meeting, shareholders voted on three proposals. The first was the election of six director nominees to the company's Board of Directors. All nominees, including Gregg Williams, Aaron Mendelsohn, Dean Baker, Alexandra Larson, Adam Mendelsohn, and Daniel Bradbury, were elected to serve until the 2025 Annual Meeting or until their successors are duly elected and qualified. The votes for each director ranged from 24,057,281 to 24,263,731, with withheld votes varying from 70,584 to 276,537.
The second proposal concerned the ratification of BPM LLP as Vivani's independent registered public accounting firm for the fiscal year ending December 31, 2024. This proposal passed with a significant majority, receiving 34,974,648 votes for, 195,530 against, and 62,383 abstained.
Lastly, shareholders approved, on a non-binding advisory basis, the compensation of the company's named executive officers. The proposal received 22,484,128 votes for, 203,434 against, and 1,646,753 abstained.
Vivani Medical, previously known as Second Sight Medical Products (NASDAQ:VANI) Inc., has its headquarters in Alameda, California. The company's common stock is traded on The Nasdaq Capital Market under the ticker symbol VANI.
In other recent news, Vivani Medical has made significant strides in diabetes treatment with the FDA-approved Phase 1 clinical trial for its diabetes treatment implant, NPM-119. The trial, named LIBERATE-1, will study the safety, tolerability, and pharmacokinetics of the implant, which offers a six-month steady delivery of the diabetes drug exenatide. This development marks Vivani Medical's transition into a clinical-stage company and the debut of its proprietary implant technology, NanoPortal™, in clinical applications.
The LIBERATE-1 study will enroll patients with type 2 diabetes previously treated with GLP-1 therapy, and aims to translate promising preclinical pharmacokinetic profiles into human applications. In addition to NPM-119, Vivani is also developing other drug implants, including NPM-115 for chronic weight management, which has shown comparable weight loss to semaglutide injections in preclinical studies.
Furthermore, NPM-139, a semaglutide implant, is in the pipeline with potential for once-yearly treatment duration. The NanoPortal technology is designed to ensure medication adherence and improve patient outcomes for chronic diseases such as type 2 diabetes and chronic weight management. These are recent developments in Vivani Medical's pursuit of innovative treatments for chronic diseases.
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