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InVivo Therapeutics Announces Major Patent Expansion

09-Jun-2011 | Source : | Visits : 8617

CAMBRIDGE, Mass. - InVivo Therapeutics today announced in a press release that it has expanded the “Field of Use” of its existing patent license to include parts of the peripheral nervous system, the cavernous nerve surrounding the prostate, the brain, the retina and cranial nerves.

InVivo has an exclusive, worldwide license to a broad suite of patents, co-owned by the Massachusetts Institute of Technology 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. The CMCC License includes 10 issued US patents and 3 pending US patents as well as 67 international patents and 34 pending international patents. 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, spinal cord tumors, and for applications in the brain.

"InVivo has concurrently engineered our product portfolio resulting in low development costs, a vast knowledge of biomaterials, and a true platform technology that protects and supports nervous system tissue,” said Frank Reynolds, CEO of InVivo Therapeutics.

“This is an exciting time for InVivo’s stakeholders as we are just weeks away from submitting an Investigational Device Exemption (IDE) to the US 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.”

This suite of patents is the result of decades of research by Dr. Robert S. Langer, the David H. Koch Institute Professor at the Massachusetts Institute of Technology, and his research teams at Langer Lab. Said Reynolds, “We are excited to apply these discoveries in new areas."

InVivo Therapeutics Holdings Corp. is a Cambridge, MA medical device company focused on utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed as a result of traumatic spinal cord injury. The company was founded in 2005 on the basis of proprietary technology co-invented by Robert Langer, ScD, Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, MD, who is affiliated with Massachusetts General Hospital in Boston.


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