CAMBRIDGE, Mass.--(BUSINESS WIRE)--InVivo Therapeutics Holdings Corp. (NVIV), a drug delivery company with a focus on groundbreaking technologies for the treatment of spinal cord injuries (SCI) and neurotrauma conditions, today announced that current Board member John A. McCarthy, Jr. has been appointed as non-executive Chairman of the Board. In addition, Board member Kenneth DiPietro has been appointed as a member of the Board’s Audit Committee.
In addition, the acting CFO, Sean F. Moran, has resigned effectively immediately. The Company is actively engaged in a search for a replacement. In the meantime, the interim CEO, Michael J. Astrue, will serve as principal financial officer until a replacement is named.
Mr. McCarthy is currently the Chief Executive Officer at CryoXtract Instruments, and has been on InVivo’s Board of Directors since April 2013. Mr. DiPietro currently serves as Executive Vice President, Human Resources at Biogen Idec, and joined InVivo’s Board in December 2012.
As a result of Mr. Moran’s departure, InVivo will not present at the 15th Annual Rodman and Renshaw Healthcare Conference to be held on Tuesday, September 10, 2013 at the Millennium Broadway Hotel in New York City.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is focused on utilizing polymers as a platform technology to develop treatments for serious diseases and conditions, including improving function in individuals paralyzed as a result of traumatic spinal cord injury. The Company was founded in 2005 on the basis of 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 prestigious 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. 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 Institutional Review Board process; 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-Q’s and our current reports on Form 8-K. We do not undertake to update these forward-looking statements made by us.
