CAMBRIDGE, Mass.--(BUSINESS WIRE)--
InVivo Therapeutics Holdings Corp. (NVIV), a developer of groundbreaking technologies for the treatment of neurotrauma conditions, today announced that CEO Frank Reynolds is scheduled to appear live in Toronto on Business News Network’s (BNN–TV) “The Close” on Monday, April 29th at approximately 4:50pm ET. BNN is Canada’s only all business and financial news channel. “The Close” is a weekday program anchored by Michael Hainsworth that airs from 3:30pm to 5:00pm ET and guides the viewer through the vital last half-hour of trading, zooms in on earnings reports and prepares the investor for the next trading day.
InVivo Therapeutics has pioneered a range of biodegradable devices utilizing biocompatible polymers that provide structural support to damaged nervous system tissue. Preventing tissue from scarring results in improved prognosis, and improved functional recovery after traumatic spinal cord injury (SCI).
Recently, the U.S. Food and Drug Administration (FDA) granted two approvals to InVivo, the first for Humanitarian Use Device (HUD) designation, which the Company believes will expedite the SCI product to market, and the second approval permits the Company to begin a first-in-man clinical trial.
“We’ve leveraged our materials to create products for multiple neurotrauma conditions that exist outside of the spinal cord. As we conduct our human study, our team will finalize data for submission on multiple 510(k) products that are on track to hit the market by Q4 2014. The market opportunities for each 510(k) product exceed $1 Billion annually. In September 2013, we plan to submit an IND to the FDA to begin human studies with our promising injectable nerve pain treatment. The market for InVivo’s spinal pain treatment is a $23 Billion market opportunity and needs of baby boomers will maintain steady growth. We’re perfectly positioned to create a new clinical franchise in medicine using our biomaterials and we’ll continue to create shareholder value as we scale our company for rapid growth,” said Reynolds.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed from traumatic spinal cord injuries. The company was founded in 2005 based on proprietary technology co-invented by Robert S. 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 prestigious David F. 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
Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934, and the Company intends that such statements are subject to the safe harbor created thereby. These statements include, but are not limited to, those relating to the expected approval of the FDA to conduct human clinical trials for the Company’s products, the expected commencement date of any approved human clinical trials, the expected size of the pilot study, the expectation that the scaffold product will be regulated under a HDE pathway, and the expected acceleration of commercialization of the Company’s products resulting therefrom. These forward-looking statements are based on current expectations, but are subject to a number of risks and uncertainties. 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 to conduct human clinical trials; whether the human clinical trials produce acceptable results; 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, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent filings with the SEC.
Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The Company undertakes no obligation and expressly disclaims any duty to update such statements.
- Health Care Industry
- spinal cord injury
Brian Luque, 617-863-5535
Director, Investor Relations