Mobia Medical plans IPO
The neurostimulation device company intends to offer 10 million shares for between $14 and $16 each.
Mobia said its Vivistim System, which received premarket approval in 2021, is the only approved solution for chronic ischemic stroke survivors with moderate to severe upper extremity impairments.
Vivistim is a paired vagus nerve stimulation system. Once the device is implanted, a therapist activates the system during task-specific practice, such as reaching for and grasping objects. Activation triggers the release of neuromodulators to help the brain create and strengthen neural connections. Patients can activate the system at home or during daily activities to reinforce neural retraining.
Mobia, which until this year was called MicroTransponder, launched the device commercially in 2023. Last year, Mobia reported sales of $32 million, double its revenues in 2024. Physicians have implanted more than 1,000 Vivistim systems, including 700 in 2025.
