InVivo Therapeutics (OTC:NVIV) said today it has enrolled its 4th patient in an investigational pilot trial of its neuro-spinal scaffold for treating patients with acute thoracic spinal cord injuries.
The implantation was performed at UC Davis Medical Center in Sacramento, Calif. by principal investigator Kee Kim, the company said.
“We continue to make meaningful progress in our ongoing clinical trial. With the fourth patient successfully enrolled, we look forward to enrolling the 5th and final patient in our pilot study and preparing for our pivotal probable benefit study,” CEO Mark Perrin said in a press release.
The trial is the Cambridge, Mass.-based company’s 1st of its investigational degradable polymer, set to enroll preliminary safety and effectiveness data in 5 subjects.
Following the trial, InVivo said they expect to conduct a pivotal study in pursuit of FDA approval and Humanitarian Device Exemption.
Earlier this month, InVivo said it signed a sales agreement with Cowen and Company to sell up to $50,000,000 worth of shares in the company.
Under the agreement, Cowen and Company will receive 3% of gross proceeds from sales of the stock, InVivo said. InVivo will control the amount of shares sold.