CAMBRIDGE, Mass.--(BUSINESS WIRE)-- InVivo Therapeutics Holdings Corp. (NVIV), a developer of groundbreaking technologies for the treatment of spinal cord injuries (SCI) and other neurotrauma conditions, today reported financial results for the three months ended March 31, 2013 and provided a business update. InVivo has pioneered a new treatment platform utilizing a variety of biocompatible polymer-based devices to provide structural support to a damaged spinal cord in order to spare tissue from scarring while improving functional recovery and prognosis after a traumatic spinal cord injury. Today there is no effective treatment for the spinal cord for paralysis caused by SCIs, and the market potential is estimated to be over $15 billion. "We are off to a great start for 2013 and continue to successfully accelerate our plans, said Frank Reynolds, InVivos Chief Executive Officer. Weve received FDA approval to commence a first-in- man clinical study for our biopolymer scaffolding to treat acute SCI, and we also received Humanitarian Use Device designation for the product. Wall Street has noticed, and our stock price has appreciated significantly since these key milestones were achieved. This has permitted us to call investor warrants that will provide up to $16.1 million of equity capital, but more … Continue reading
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