Mobia Medical, which sells a nerve stimulation device for chronic ischemic stroke, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Mobia's Vivistim Paired Vagus Nerve Stimulation System is the first and only clinically-validated, FDA-approved solution for chronic ischemic stroke survivors with moderate to severe upper extremity impairments. The system includes an implanted pulse generator and lead that deliver stimulation during functional movement in order to increase neuroplasticity and durably restore motor function. Management estimates that there are over four million chronic ischemic stroke survivors, of which one million have the health, cognition, and motivation to participate in post-stroke therapy, representing a $30 billion opportunity based on the system's price.
The Austin, TX-based company was founded in 2007 and booked $32 million in revenue for the 12 months ended December 31, 2025. It plans to list under the symbol MOBI. Mobia Medical filed confidentially on January 21, 2026. BofA Securities, J.P. Morgan, and Goldman Sachs are the joint bookrunners on the deal. No pricing terms were disclosed.
