InVivo Therapeutics Announces Publication in Neurosurgery of Lifetime Hospitalization Costs for Thoracic Spinal Cord Injury P...
September 05 2017 - 8:00AM
Business Wire
- Costs substantially lower for patients with
less severe AIS Grade -
InVivo Therapeutics Holdings Corp. (NVIV) today announced
the publication of an article titled “Relationship of American
Spinal Injury Association Impairment Scale Grade to Post-injury
Hospitalization and Costs in Thoracic Spinal Cord Injury” in the
journal Neurosurgery. Neurosurgery is the official journal of the
Congress of Neurological Surgeons. The article estimates the
lifetime economic costs associated with hospitalizations in
relation to American Spinal Injury Association Impairment Scale
(AIS) grade. AIS grades are widely-used measures of spinal cord
injury (SCI) severity that range from AIS A (complete) to AIS E
(normal). The article concludes that patients with less severe
thoracic SCI, as reflected in AIS grade, spend fewer days
hospitalized over their lifetimes, leading to lower costs of
inpatient care. Therefore, therapies improving AIS grade following
thoracic SCI may provide cost savings in addition to addressing
substantial unmet need.
Specifically, the article reports a lifetime net present value
cost savings of about $72,000 for patients with thoracic AIS B SCI
as compared to patients with thoracic AIS A SCI, and of about
$132,500 for patients with thoracic AIS C SCI as compared to
patients with thoracic AIS A SCI.
Dr. Steven Kirshblum, Director of the Spinal Cord Injury Program
at the Kessler Institute for Rehabilitation and one of the authors
of the article, said “This article is a valuable contribution to
the literature regarding the economic burden of spinal cord injury.
This is one of the first articles to evaluate a key component of
long-term treatment cost by AIS grade and level of injury and
establishes that improvement in AIS grade may be associated with
cost savings.”
“We are very pleased to have our first publication regarding the
financial burden of illness of spinal cord injury and the potential
economic impact of patients converting to less severe AIS grade,”
Mark Perrin, InVivo’s CEO and Chairman, said. “This publication
focuses on the re-hospitalization costs associated with patients
with different AIS grades, but there are also many other direct
healthcare costs and indirect costs, such as lost wages, associated
with SCI. In the future, we plan to continue to evaluate the burden
of illness by AIS grade and to publish additional findings. As we
work to complete the INSPIRE study of the Neuro-Spinal Scaffold™,
we anticipate that these publications will serve as foundational
components of our commercial launch strategy.”
The publication is now available electronically through
Neurosurgery prior to print publication at:
https://doi.org/10.1093/neuros/nyx425.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is a clinical-stage
biomaterials and biotechnology company with a focus on treatment of
spinal cord injuries. The company was founded in 2005 with
proprietary technology co-invented by Robert Langer, Sc.D.,
Professor at Massachusetts Institute of Technology, and Joseph P.
Vacanti, M.D., who then was at Boston Children’s Hospital and who
now is affiliated with Massachusetts General Hospital. In 2011, the
company earned the David S. Apple Award from the American Spinal
Injury Association for its outstanding contribution to spinal cord
injury medicine. In 2015, the company’s investigational
Neuro-Spinal Scaffold™ received the 2015 Becker’s Healthcare Spine
Device Award. The publicly-traded company is headquartered in
Cambridge, MA. 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. These statements
can be identified by words such as "believe," "anticipate,"
"intend," "estimate," "will," "may," "should," "expect," “designed
to,” “potentially,” and similar expressions, and include statements
regarding the safety and effectiveness of the Neuro-Spinal
Scaffold™, the status of the clinical program, and the company’s
plans regarding future publications. Any forward-looking statements
contained herein are based on current expectations, and are subject
to a number of risks and uncertainties. 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 successfully
open additional clinical sites for enrollment and to enroll
additional patients; the timing of the Institutional Review Board
process; the expected benefits and efficacy of the company’s
products and technology in connection with the treatment of 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 other risks associated with the company’s
business, research, product development, regulatory approval,
marketing and distribution plans and strategies identified and
described in more detail in the company’s Quarterly Report of the
three months ended June 30, 2017, and its other filings with the
SEC, including the company’s Form 10-Qs and current reports on Form
8-K. The company does not undertake to update these forward-looking
statements.
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InVivo Therapeutics Holdings Corp.Heather Hamel,
617-863-5530Investor
RelationsInvestor-relations@invivotherapeutics.com
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