InVivo Therapeutics Appoints Steven McAllister as Interim CFO

Business Wire

CAMBRIDGE, Mass.--(BUSINESS WIRE)--

InVivo Therapeutics Holdings Corp. (NVIV) today announced the appointment of Steven McAllister as Interim Chief Financial Officer, effective December 31, 2013. He replaces Gregory Perry, who, as previously announced, will leave December 30, 2013 to join another local biotechnology company as its Chief Financial and Business Officer.

Mr. McAllister served as Vice President, Finance and Administration for Biomet Spine and Bone Healing Technologies from 2007 – 2013. From 1999 – 2007 he served in several capacities, including Director of Finance, Worldwide Operations, for Depuy Inc, and from 1984 – 1999 he worked in several capacities at Howmedica, a Pfizer subsidiary that was sold to Stryker in 1998.

Michael Astrue, InVivo’s Interim Chief Executive Officer, said, "Steve McAllister brings expertise in both finance and in the operations of device companies. I am confident that he will provide the same judgment, integrity and strategic vision provided by Greg Perry during our initial repositioning of InVivo.”

About InVivo Therapeutics

InVivo Therapeutics Holdings Corp. is a pioneering biomaterials company with unique technologies for drug delivery with a focus on treatment of spinal cord injuries. The Company was founded in 2005 with proprietary technology co-invented by Robert Langer, ScD., Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, M.D., who is affiliated with Massachusetts General Hospital. In 2011 the Company earned the David S. Apple Award from the American Spinal Injury Association for its outstanding contribution to spinal cord injury medicine. The publicly traded company is headquartered in Cambridge, MA. For more details, visit, www.invivotherapeutics.com.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of the federal securities laws. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties, and include statements regarding the Company’s expectations with respect to the commencement of human clinical trials for the scaffold product, the timing of the submission of its revised protocol to the FDA, the impact that the revised protocol would have on the progress of the clinical trials, the impact of the Company’s efforts with respect to the manufacturing of the scaffolds and possible partnerships for its hydrogel product. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to obtain FDA approval of its revised protocol and the timing thereof; the identification of appropriate clinical sites; the Institutional Review Board process; the Company’s ability to enter into partnerships; the Company’s ability to obtain FDA approval to commercialize its products; the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology in connection with spinal cord injuries; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and other risks associated with the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies identified and described in more detail in our filings with the SEC, including our Form 10-K and 10-Qs and our current reports on Form 8-K. We do not undertake to update these forward-looking statements made by us.

Contact:
InVivo Therapeutics Holdings Corp.
Brian Luque, 617-863-5535
Director, Investor Relations
bluque@invivotherapeutics.com

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