InVivo opens new office and labs in Cambridge, Mass.
Wednesday, September 26, 2012
InVivo Therapeutics Holdings (NVIV), a developer of technologies for the treatment of spinal cord injuries and neurotrauma, has opened the company’s new office, manufacturing and lab space at in Cambridge, Mass. Consolidating all of InVivo’s operations, the 21,000 square foot facility will serve as the new headquarters for the company.
InVivo Therapeutics received $500,000 in early-stage loan financing through the Massachusetts Life Sciences Center’s accelerator program in 2009 when the company had six employees. The company has since raised $35 million in public financing and has grown to over thirty employees. The Life Sciences Center is the agency charged with implementing the state’s 10-year, $1 billion life sciences initiative.
“InVivo is committed to developing and bringing new therapies to help individuals suffering from spinal cord injuries and other neurological conditions to the market as quickly as possible,” said Frank Reynolds, CEO of InVivo. “We will be able to continue rapidly building our team in the new facility, as well as prepare for the upcoming clinical testing of our lead product. The move into our new headquarters is a critical milestone in our growth and we thank everyone who has helped us reach this point, including the Massachusetts Life Sciences Center, our employees, partners and shareholders.”
Susan Windham-Bannister, president and CEO, Massachusetts Life Sciences Center, said, “InVivo Therapeutics was one of our earliest investments, and we are so proud to see the company expanding in both size and scientific impact. We are pleased to welcome InVivo to their new facility, and look forward to future developments as they advance their important research here in Massachusetts.”