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Biogen Executive Kenneth DiPietro Joins InVivo Therapeutics Board of Directors

  Biogen Executive Kenneth DiPietro Joins InVivo Therapeutics Board of
  Directors

Business Wire

CAMBRIDGE, Mass. -- December 18, 2012

InVivo Therapeutics Holdings Corp. (NVIV), a developer of groundbreaking
technologies for the treatment of spinal cord injuries (SCI) and other
neurotrauma conditions, today announced that Kenneth DiPietro, Executive Vice
President Human Resources at Biogen Idec, has joined InVivo’s Board of
Directors. DiPietro has also been appointed as Chair of the Board’s
Governance, Nominating and Compensation committee.

InVivo has pioneered a new technology 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 traumatic spinal cord injuries, and the market
potential is estimated to exceed $10 billion.

Mr. DiPietro brings 30 years of experience in the human resources field to
InVivo’s Board. As a senior executive and respected global business leader,
Mr. DiPietro is accomplished at linking human resources functional excellence
to the achievement of corporate objectives. He has gained broad cultural
transformation, organizational development and corporate re-engineering
experience with several Global 500 companies including Biogen, Microsoft, and
PepsiCo, Inc.

“We expect that 2013 will be a breakout year for InVivo and that the next six
months will mark a major inflection point in our growth," said Frank Reynolds,
InVivo’s Chief Executive Officer. "We have built out strong R&D capabilities
in neurotrauma and we’ve completed important manufacturing runs for our final
submission to the FDA in early 2013. We’re poised to move our SCI devices into
clinical trials and are aggressively developing multiple neurotrauma products
for pain, fibrosis, and dural sealing.”

Continued Reynolds, “In 2012, we raised over $23 million including $20 million
in a public offering from blue chip institutional investors. We’ve recruited a
world-class team of experts in neuroscience and neurosurgery to fill our
premier R&D center and our cGMP manufacturing facility. For 2013, we’ll have a
unique opportunity to scale InVivo’s biomaterials platform into products
beyond spinal cord injury treatments, and solid human resource planning will
be at the center of our strategy.

“I am confident that Ken’s talents and abilities will add value to InVivo and
our Board by helping the Company manage growth. He’ll help InVivo implement a
vision to enhance productivity, while promoting exceptional business
performance by framing a human resources agenda and defining strategies. I am
very pleased to be able to welcome him to the InVivo team.”

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.

Safe Harbor Statement

Certain statements contained in this press release that are not historical
facts may constitute forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities and
Exchange Act of 1934, and the Company intends that such statements are subject
to the safe harbor created thereby. These statements include, but are not
limited to, those relating to the expected approval of the FDA to conduct
human clinical trials for the Company’s products, the expected commencement
date of any approved human clinical trials, the expected size of the pilot
study, the expectation that the scaffold product will be regulated under a HDE
pathway, and the expected acceleration of commercialization of the Company’s
products resulting therefrom. These forward-looking statements 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 Company’s ability to obtain FDA approval to conduct human
clinical trials; whether the human clinical trials produce acceptable results;
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, the Company’s business, research, product development,
regulatory approval, marketing and distribution plans and strategies. These
and other factors are identified and described in more detail in our Annual
Report on Form 10-K for the year ended December 31, 2011 and subsequent
filings with the SEC.

Forward-looking statements contained in this press release speak only as of
the date of this release. Subsequent events or circumstances occurring after
such date may render these statements incomplete or out of date. The Company
undertakes no obligation and expressly disclaims any duty to update such
statements.

Contact:

InVivo Therapeutics Holdings Corp.
Lauren Mitarotondo, 617-863-5510
lmitarotondo@invivotherapeutics.com