InVivo Therapeutics Holdings Corp. (OTC/BB: NVIV), a company focused on the development of groundbreaking technologies for the treatment of spinal cord injuries (SCI), today announced that it has entered into a multi-year lease for a 21,000 square-foot facility at One Kendall Square in Cambridge, MA.

The new facility will serve as the Company’s fully integrated global corporate headquarters. Bringing all of InVivo’s business units under one roof for the first time, the facility will house corporate offices, lab space, a rodent vivarium, and a cGMP cleanroom to meet the needs of InVivo’s planned human studies for three different products anticipated to begin in 2012.

The Company expects to occupy the new facility in early 2012.

According to Frank Reynolds, CEO of InVivo Therapeutics, the new headquarters will allow InVivo to continue to contain costs and improve time-to-market for the Company’s products. Said Reynolds, “In 2005, we started on a mission to engage multiple disciplines of science to treat spinal cord injuries. Now we have the facility to fully support our teams and to conduct our human studies.”

In addition to office and administrative space, the facility provides significant additional scientific resources for advancing InVivo Therapeutics’ product pipeline, including:

  • A chemistry lab for formulations and chemical synthesis of the Company’s hydrogel and polymer-based scaffold technologies;
  • A cGMP cleanroom for manufacturing and packaging of the Company’s biomaterial devices for clinical studies and early product launch;
  • A rodent vivarium to evaluate the safety and efficacy of various devices and treatment combinations in SCI and other nervous system injury models which the Company believes to be one of the largest dedicated to spinal cord injury research in the world;
  • A biology lab for developing cell therapies used in combination with the Company’s biomaterial devices;
  • A surgeon training facility to educate the medical community, prepare for product launch, and engage physicians for research and product development purposes; and,
  • The ability to expand to additional space as the Company grows.

Continued Reynolds, “As a company that emerged from MIT, are remaining close to our roots and will continue to be located just a few hundred yards from MIT’s Langer Lab. Our new headquarters represents an important step in our Company’s corporate development and improves our ability to continue to recruit the best talent available. Recently, we added four world-class neuroscientists to our team and this facility will provide them with an innovative work environment. We’ll have critical resources for accelerating our development while maintaining FDA-compliant manufacturing processes.”

About InVivo Therapeutics

InVivo Therapeutics Holdings Corp. is 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, M.D., who is affiliated with Massachusetts General Hospital. In 2011, the company earned the prestigious David S. Apple Award from the American Spinal Injury Association for its outstanding contribution to spinal cord injury medicine. The publicly traded company is headquartered in Cambridge, Mass. For more details, visit www.invivotherapeutics.com.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of the federal securities laws. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to sell additional shares of common stock and warrants to purchase common stock at additional closings, the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology in connection with spinal cord injuries; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including our Form 10-K and Form 10-Qs and our current reports on Form 8-K. We do not undertake to update these forward-looking statements made by us.