CAMBRIDGE, Mass. (September 25, 2012) - InVivo Therapeutics Holdings Corp. (NVIV), a developer of groundbreaking technologies for the treatment of spinal cord injuries (SCI) and Neurotrauma, today hosted a ribbon cutting ceremony for the company’s new office, manufacturing and lab space at One Kendall Square, Building 1400 in Cambridge, Massachusetts. Consolidating all of InVivo’s operations, the 21,000 square foot facility will serve as the new headquarters for the company.
Speakers at the event included InVivo Therapeutics co-founder and CEO Frank Reynolds; Massachusetts Life Sciences Center President & CEO Susan Windham-Bannister, PhD; MassBio Director of Economic Development & Global Affairs Peter Abair; and Mike Ferriter, a founder and Board member of the Greater Boston Chapter of the National Spinal Cord Injury Association. InVivo Therapeutics received $500,000 in early-stage loan financing through the Massachusetts Life Sciences Center’s Accelerator Program in 2009 when the company had six employees. The company has since raised $35 million in public financing and has grown to over thirty employees. The Life Sciences Center is the agency charged with implementing the state’s ten-year, $1 billion Life Sciences Initiative.
“InVivo is committed to developing and bringing new therapies to help individuals suffering from spinal cord injuries and other neurological conditions to the market as quickly as possible,” said Reynolds. “We will be able to continue rapidly building our team in the new facility, as well as prepare for the upcoming clinical testing of our lead product. The move into our new headquarters is a critical milestone in our growth and we thank everyone who has helped us reach this point, including the Massachusetts Life Sciences Center, our employees, partners and shareholders.”
“With our support, InVivo Therapeutics is growing our innovation economy while fostering local talent,” said Governor Deval Patrick. “I look forward to seeing them create further jobs and opportunities in the Commonwealth.”
“InVivo Therapeutics was one of our earliest investments, and we are so proud to see the company expanding in both size and scientific impact,” said Massachusetts Life Sciences Center President & CEO Susan Windham-Bannister, PhD. “We are pleased to welcome InVivo to their new facility, and look forward to future developments as they advance their important research here in Massachusetts.”
“We take pride in the fact that Massachusetts is home to InVivo Therapeutics, a company that is on the forefront of developing innovative therapies for neurological conditions,” said MassBio President & CEO Robert K. Coughlin. “We know that they will play a lead role in the continued strength of the life sciences supercluster.”
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 2011 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.
