Richard Toselli, M.D., Named Acting Chief
Executive Officer
Ann Merrifield Named Chair
InVivo Therapeutics Holdings Corp. (NVIV) today announced
that Richard Toselli, M.D., has been appointed Acting Chief
Executive Officer of InVivo, replacing Mark D. Perrin, who has
resigned as Chief Executive Officer and Chairman of InVivo’s Board
of Directors. Dr. Toselli, a Board-certified neurosurgeon
possessing senior leadership experience in surgical medical affairs
at firms including Sanofi, DePuy, and Johnson & Johnson, will
continue to serve in his capacity as InVivo’s Chief Medical
Officer, which role he assumed upon joining the Company in July
2017. Mr. Perrin has agreed to serve as a consultant to the company
for a period of six months.
The Company also announced that Ann Merrifield was appointed as
Chair of the Board of Directors. Ms. Merrifield previously served
as the Company’s Lead Director.
“We are pleased to have Dr. Toselli accept the role as Acting
Chief Executive Officer. He brings a successful track record in
clinical and regulatory affairs advancing transformational
technologies, and following our recent discussions with the FDA, we
believe Dr. Toselli’s experience and capabilities are well-suited
to the important work ahead,” stated Ms. Merrifield.
Dr. Toselli said, “As announced earlier this quarter, the
Company continues to engage with the FDA to understand how we can
reset the Neuro-Spinal Scaffold™ clinical program, which is
currently on hold. We look forward to continued discussions with
the FDA with the goal of providing additional clarity on the
Neuro-Spinal Scaffold™ program in the near term.”
Robert S. Langer, Ph.D., InVivo Co-Founder and Scientific
Advisory Board member, and David H. Koch Institute Professor at
MIT, stated, “I am confident in Dr. Toselli’s ability to lead
InVivo forward. His background in surgical device innovation and
neurological surgery will be critical as the company progresses its
promising technology addressing the substantial needs in treating
patients with spinal cord injury.”
Dr. Langer and Ms. Merrifield added jointly, “We are thankful
for Mark Perrin’s formative contributions to the Company. Over the
past four years, InVivo has been established as a Nasdaq-traded,
clinical-stage company advancing the Neuro-Spinal Scaffold™.”
"It was extremely rewarding to initiate the first-in-man
clinical trial of the Neuro-Spinal Scaffold™ and to learn from the
results thus far from the INSPIRE trial. I wish the InVivo Board
and management team the best in their pursuit of the company's
mission to redefine the lives of spinal cord-injured patients,"
said Mr. Perrin.
Biographical Background
Prior to joining InVivo, Dr. Toselli served as Chief Medical
Officer for Cochlear Limited. In that role, he was responsible for
global clinical, regulatory, and medical affairs teams reporting to
the Chief Executive Officer. Previously, Dr. Toselli served five
years at Sanofi in various levels of increasing responsibility,
including Vice President of Global Medical Affairs – Immunology and
Inflammation, Biologics Division; Vice President of Global Medical
Affairs and Head of the Biosurgery Discovery Performance Unit; and
Vice President of Global Medical Affairs, Biosurgery. Prior to
this, he served as Chief Medical/Technology Officer for Covidien
Surgical, and earlier held various roles at DePuy Spine including
Director of Medical Affairs, Worldwide Vice President of Research
and Development, and Worldwide Vice President of Clinical Evidence
and External Relations. He held the position of Vice President of
Evidence-Based Medicine at Johnson & Johnson for the device
sector. Dr. Toselli holds a bachelor of arts from Providence
College, his medical degree from Brown University, and a master of
business administration from the UNC’s Kenan-Flagler Business
School. Dr. Toselli is a board-certified neurological surgeon.
Ms. Merrifield serves as a Director on a number of boards,
including Flexion Therapeutics, Juniper Pharmaceuticals and Veritas
Genetics. She recently served as President and Chief Executive
Officer at PathoGenetix, a genomics company developing an automated
system for rapid bacterial identification. Prior to this, Ms.
Merrifield spent 18 years at Genzyme in a number of leadership
roles, including as President of Genzyme Biosurgery and as
President of Genzyme Genetics. Previously, she was a Partner at
Bain and Company. Ms. Merrifield received a bachelor of arts in
zoology and a master of education from the University of Maine, as
well as a master of business administration from the Amos Tuck
School of Business at Dartmouth College.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is a research and
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 status of the company’s clinical program. 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
discussions and engagement with the FDA; the company’s ability to
successfully re-open 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 September 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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version on businesswire.com: http://www.businesswire.com/news/home/20171218005492/en/
InVivo Therapeutics Holdings CorpHeather Hamel,
617-863-5530Investor
RelationsInvestor-relations@invivotherapeutics.com
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