InVivo engages the FDA to move forward on injectable pain-relief hydrogen, aims for $22B yearly market
InVivo Therapeutics (OTC:NVIV) is hoping to break into what may be a $22 billion annual market with its new combination injectable hydrogel for pain management in the lower back, legs, neck or arms.
Late last month, the company submitted a request to meet with the FDA’s Office of Combination Products and the Center for Devices & Radiological Health to discuss the path for the product, a hydrogel engineered for sustained release of therapeutic molecules.
The hydrogel also exhibits "syneresis," or shrinkage, which may enhance its safety profile in neurological applications of the product.
"For years, InVivo has been pressed by patients like myself to develop treatments for herniated disks and other neurological pain issues associated with the aging baby boomers in the U.S., and now we have an answer in InVivo’s hydrogel platform," CEO Frank Reynolds said in prepared remarks. "We believe that the opportunity for our new treatment could exceed $22 billion annually, and by late 2012 we plan to partner with a global leader in pain therapies to bring this product to market."
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