CAMBRIDGE, Mass. -- (BUSINESS WIRE) -- InVivo Therapeutics Holdings Corp. (NVIV) today announced the appointment of Mark D. Perrin as Chief Executive Officer, effective January 6, 2014. Upon his appointment, Mr. Perrin will also become a member of the Board of Directors.
Mr. Perrin most recently served as President of Dennan Consulting, a biotech consulting firm. From 2005 to 2010, he served as President and Chief Executive Officer of ConjuChem Biotechnologies. From 2002 to 2005, he was Executive Vice President and Chief Commercial Officer for Orphan Medical, until it was acquired by Jazz Pharmaceuticals. From 1995 to 2001, he was Executive Vice President, Commercial Operations for COR Therapeutics. Earlier in his career he was Vice President for Burroughs Wellcome and for Lederle Laboratories, with responsibility for U.S. commercial operations at each company.
InVivo Chairman John McCarthy said, “Mark is an excellent fit for InVivo. His extensive commercial background will be invaluable to portfolio decisions for our novel hydrogel technology and our new emphasis on partnering as a primary way to finance new programs. He also has solid experience raising money, which will be important to us as we continue to focus our critical resources on high-value opportunities that maximize long-term value for our shareholders. Importantly, Mark has the integrity, strategic vision and work ethic to take InVivo to the next level.”
Mr. McCarthy added, “I also want to acknowledge the accomplishments of our Interim Chief Executive Officer, Mike Astrue. In August of this year, Mike stepped into a difficult situation on very short notice. He moved our stalled lead clinical program forward at an impressive rate, developed a new business plan designed to reduce risk and increase shareholder value, initiated a series of important business development discussions, and added a first class-team of permanent executives, interim executives, and consultants that has greatly improved management of the company. It’s been a true pleasure working closely with Mike over the past five months, and on behalf of the full Board and employee base, we extend our thanks and appreciation for all his great work.”
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is a pioneering biomaterials company with unique technologies for drug delivery with a focus on treatment of spinal cord injuries. The Company was founded in 2005 with 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 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, 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. 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 obtain FDA approval of its revised protocol and the timing thereof; the identification of appropriate clinical sites; the Institutional Review Board process; the Company’s ability to enter into partnerships; the Company’s ability to obtain FDA approval to commercialize its products; 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 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 our filings with the SEC, including our Form 10-K and 10-Qs and our current reports on Form 8-K. We do not undertake to update these forward-looking statements made by us.