Mobia Medical, maker of the Vivistim stroke implant, raises $150 million in Nasdaq IPO
The company formerly known as MicroTransponder sells the only FDA-approved implant designed to improve arm function after chronic ischemic stroke.
Mobia Medical priced its initial public offering of 10 million shares at $15 each, raising about $150 million, and began trading on Nasdaq as MOBI on May 8. The company, previously called MicroTransponder, makes Vivistim, an implanted vagus nerve stimulator paired with rehabilitation. It is the only FDA-approved implantable therapy designed to improve upper-limb function in survivors of chronic ischemic stroke.
The shares opened slightly below the offer price, but the listing adds to a small group of publicly traded neuromodulation companies.
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