InVivo Completes Reverse Merger, Raising $10.5M
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.