Located in Cambridge, Massachusetts, InVivo Therapeutics was founded in 2005 on the basis of proprietary technology co-invented by Robert Langer, ScD, Professor at the Massachusetts Institute of Technology (MIT) and Dr. Joseph P. Vacanti who is affiliated with Massachusetts General Hospital in Boston. In this short period of time, InVivo has gained acclaim for their focus on utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed as a result of traumatic spinal cord injury. Today, InVivo took a major step towards prominence with the announcement of major patent expansion to include additional nervous system conditions.
InVivo announced it has expanded the “Field of Use” of their existing patent license to include parts of the peripheral nervous system, the cavernous nerve surrounding the prostate, the brain, the retina and cranial nerves.
The young company has an exclusive worldwide license to a broad suite of patents co-owned by the MIT and Harvard’s Children’s Hospital (the “CMCC License”). The CMCC License previously covered a wide range of biopolymers to treat spinal cord injury and to promote the survival and proliferation of cells in the spinal cord.
InVivo will leverage its experience in spinal cord injury to create new treatment options for peripheral nerve injuries, epidural injections, cavernous nerve repair following prostate surgery, retina repair, and spinal cord applications in the brain.
Leading the way at InVivo is Frank Reynolds whom serves as the CEO of the growing company. When asked what effect this announcement means to shareholders of InVivo and the industry, Reynolds was quoted as saying, “This is an exciting time for Invivo’s stakeholders as we are just weeks away from submitting an Investigational Device Exemption (IDE) to the U.S. Food and Drug Administration (FDA) for our first product. The patent expansion will allow InVivo to not only develop treatments for unmet medical needs but also to add potential revenue streams. We expect these products to provide good margins for our shareholders with relatively short development timelines.”
To learn more about this press release or the company as a whole, visit their corporate website at: www.invivotherapeutics.com
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