InVivo Therapeutics neurology news
InVivo will reduce headcount by 14 (28%) to 36 and will discontinue development of its hydrogel drug delivery program, which was in an “early stage” of preclinical development. The company said the move will save about $3 million annually and will reduce cash expenditures by 23% from 2013 levels. Last year, the company had an operating loss of $19 million. The company said it will further explore one element of the platform -- the potential of hydrogel for cell delivery -- as part of an expanded biomaterials development program for the delivery of stem cells. The company said all of its resources will now be focused on its Neuro-Spinal Scaffold and Neuro-Spinal Scaffold Plus Stem Cells program for spinal cord injury (SCI). The Neuro-Spinal Scaffold program is in pilot testing in patients with acute thoracic spinal cord injury, and the Neuro-Spinal Scaffold Plus Stem Cells program is in preclinical testing. ...