Cambridge, MA-based InVivo Therapeutics said today it has completed a reverse merger and is conducting a $10.5 million private placement financing in part to fund a human study of its implant to treat spinal cord injuries. The firm did the reverse merger with an entity called InVivo Therapeutics Holdings, and it will be quoted on the OTC market under the symbol “NVIV” starting October 28. Frank Reynolds, who founded the company with technology from the MIT lab of inventor Bob Langer in 2005, is continuing to serve as CEO of the company. Reynolds, who suffered a spinal cord injury himself before starting the company, shared InVivo’s story with Xconomy in December 2008.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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