InVivo readies $10M round | Funding Roundup

December 19, 2011 by MassDevice staff

Spinal cord injury therapy maker InVivo Therapeutics registers with the SEC for a $10 million funding round.

InVivo Therapeutics logo

Spinal injury therapy maker InVivo Therapeutics Holdings Corp. (OTC:NVIV) is preparing a $10 million offering, SEC filings show.

Details haven't yet been made public regarding pricing, but the company expects to use the proceeds for research & development, working capital, capital expenditures and other general corporate purposes.

InVivo, co-founded in 2005 by industry celebrity Robert Langer, took itself public with a reverse merger last year.

Sign up to get our free newsletters delivered straight to your inbox

The company filed its first investigational device exemption in July 2011 for a biopolymer scaffolding device intended to treat acute spinal cord injuries. InVivo anticipates approval for its IDE in 2012, at which point it can begin human clinical studies.

InVivo is a pre-revenue company, with losses totalling $12.7 million since inception, according to SEC filings.

The company has managed to pare losses and deficits in the last year, although its assets have diminished as well.

Comments

Built on an AdaptiveTheme using Drupal by Michael Knapp  mknapp