InVivo Therapeutics Corporation Announces Reverse Merger and $10.5 Million Private Offering

CAMBRIDGE, Mass.--(BUSINESS WIRE)--InVivo Therapeutics Corporation (“InVivo Therapeutics”), a company focused on the development of groundbreaking technologies for the treatment of spinal cord injuries (SCI), today announced the successful completion of a reverse merger (the “Merger”) with InVivo Therapeutics Holdings Corp. (“InVivo”). InVivo, now headquartered in Cambridge, Massachusetts, will continue the business of InVivo Therapeutics as a wholly-owned subsidiary under the leadership of InVivo Therapeutics’ current management team, headed by Chief Executive Officer, Frank Reynolds. In completing the Merger, InVivo issued approximately 31.6 million shares of its common stock to the holders of InVivo Therapeutics common stock. The merged company will be quoted on the OTC markets under the symbol “NVIV,” beginning Thursday, October 28, 2010.

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