Atlanta 10/16/2013 3:00:00 AM
News / Stocks

InVivo Therapeutics Holdings (NVIV) Announces Lou Vaickus, MD as Interim Chief Medical Officer

MissionIR would like to highlight nVivo Therapeutics Corporation (OTCQB: NVIV), a Cambridge, MA based medical device company, founded to develop and commercialize groundbreaking technologies for the treatment of spinal cord injuries (SCI). Currently, there are no treatment options for SCI patients to successfully restore function following a spinal cord injury. Existing treatments consist of a collection of approaches that only focus on symptoms of SCI, such as decompression and mechanical stabilization of the spinal cord, rather than on the underlying pathology. InVivo is creating a new paradigm of care by taking a novel approach to SCI. Instead of focusing exclusively on regeneration, InVivo concentrates on neuroprotection.

In the company’s news,

InVivo Therapeutics Holdings Corp. announced that Lou Vaickus, MD, has been recruited to the position of interim Chief Medical Officer (CMO), effective starting on October 15, 2013, for a contractual period of one year.

Dr. Vaickus is currently the President of akta Pharmaceutical Development LLC. Previously he served as Vice President and head of Clinical Development, Global Medicines Development and Affairs at Vertex Pharmaceuticals. Prior to joining Vertex, Dr. Vaickus was CMO of Tolerx, Inc. from 2002 to 2011. From 1998 to 2002, he served as Senior Vice President, Medical Affairs and R&D at Sunovion, formerly known as Sepracor and as Medical Director at EMD Serono, formerly known as Ares Serono from 1993 to 1998. In these held positions, Dr. Vaickus successfully oversaw the development of products in various therapeutic arenas.

Interim CEO of InVivo, Michael Astrue stated, “We are excited to have Dr. Vaickus join us at this critical juncture in the company’s development. With his judgment and experience, he will help us bring our scaffold product into the clinic, he will help us define the best opportunities for our hydrogel technology, and he will help us enter into the types of partnerships that create value for a successful drug delivery company.”

Eric Woodard, MD is set to continue his longstanding collaboration with InVivo as both a consultant and member of the Scientific Advisory Board.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.