Navigation Links
Spencer Trask Congratulates InVivo Therapeutics on its Recent Approvals from the FDA
Date:4/5/2013

GREENWICH, Conn., April 5, 2013 /PRNewswire/ -- Spencer Trask, a venture capital firm focused on developing big ideas into world-changing companies, congratulates InVivo Therapeutics (NVIV), for its recent approvals from the U.S. Food and Drug Administration (FDA). On the heels of FDA approval for Humanitarian Use Device (HUD) designation (an important benchmark and speed-to-market catalyst), InVivo has received yet another important FDA approval – Investigational Device Exemption (IDE), allowing human trials to begin. 

With IDE approval, InVivo will now be able to run first-in-man clinical trials to confirm safety and performance of its biopolymer scaffold. There are currently no treatment options approved by the FDA, or in clinical trials, to intervene directly in the spinal cord following a spinal cord injury. "We believe InVivo's treatment for spinal cord injuries could have a profound impact. If this is approved, it will change lives," said Kevin Kimberlin , Chairman of Spencer Trask & Co. "This is what we are all about – helping entrepreneurs brave enough to work on tough problems, like ending paralysis due to spinal cord injuries."

Spencer Trask Ventures raised $13 million in early-stage funding for InVivo in December of 2010 through its network of individual investors at a share price of $1.00. 

"The funding from Spencer Trask came at a critical time in InVivo's growth – it enabled us to take the next step and expand our facility," said Frank Reynolds , CEO of InVivo Therapeutics. "That was an important milestone for InVivo, and I want to thank those early investors for helping us grow our big idea. These recent FDA approvals take us two giant steps closer to achieving a viable treatment for spinal cord injuries." 

Other Spencer Trask firsts include: Myriad Genetics, the first human genome company; Ciena, the first wave division multiplexing system to power the Internet; Osiris, the first company with an FDA-approved stem cell therapy; and Next Level Communications, the first VDSL broadband system.

About Spencer Trask & Co. and Spencer Trask Ventures
Spencer Trask is a venture capital firm that transforms bright ideas into great companies. Through a collaborative network of business leaders, domain experts and individual investors, Spencer Trask builds market-leading companies with a sustainable competitive advantage. Clients invest on a deal-by-deal basis rather than through a fund. Spencer Trask Ventures is a wholly owned subsidiary of Spencer Trask & Co.


'/>"/>
SOURCE Spencer Trask
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Lung Cancer Alliance Congratulates 75 Medical Centers For Moving Swiftly And Responsibly On Lung Cancer Screening
2. ERT Acquires invivodata to Establish the Industrys Most Experienced Provider of Clinical Outcome Assessment Solutions
3. Cell Therapeutics, Inc. (CTI) to Report First Quarter Financial Results on April 20
4. Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Chelsea Therapeutics International, Ltd. to Contact the Firm
5. Argos Therapeutics Secures $25 million Series D Financing to Commence Phase 3 ADAPT Study in Patients with Metastatic Renal Cell Carcinoma (mRCC) in Mid-2012
6. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
7. Zacks Industry Outlook Highlights: Eli Lilly, Forest Labs, ViroPharma, Novartis and United Therapeutics
8. Oxford BioTherapeutics Appoints Senior Industry Leader to Head its New Clinical Development Operations in Basel, Switzerland
9. Nektar Therapeutics Reports Financial Results for the First Quarter of 2012
10. Cara Therapeutics Licenses Novel Kappa Opioid Agonist, CR845, to Chong Kun Dang Pharmaceutical Corporation For South Korean Market
11. Frost & Sullivan: High Uptake of New Drug Therapies and Aging Population Expansion Keep the U.S. Retinal Therapeutics Market Buoyant
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/12/2017)... and Company (NYSE: LLY ) has entered into ... litigation in the U.S. District Court for the Eastern District ... (tadalafil) unit dose patent. This patent was previously set ... agreement, Cialis exclusivity is now expected to end at the ... patent for Cialis is valid and infringed by companies seeking ...
(Date:7/11/2017)... 11, 2017  The global market for liquid biopsy ... $394.1 million in 2016.  Although in early stages, the ... in particular as a result of the gradual shift ... recent introduction of a significant number of new liquid ... of tumor biomarkers to guide treatment decisions. ...
(Date:7/11/2017)... July 11, 2017 Oramed Pharmaceuticals Inc. (NASDAQ: ... pharmaceutical company focused on the development of oral drug ... Drug Administration (FDA) has agreed to schedule an End-of-Phase ... IIb trial of its oral insulin capsule ORMD-0801 in ... trial met primary and secondary endpoints by indicating a ...
Breaking Medicine Technology:
(Date:7/21/2017)... ... July 21, 2017 , ... ... students improve their chances of acceptance to a residency in a United States ... earned degrees outside the U.S. , According to data released by the ECFMG®, ...
(Date:7/21/2017)... ... July 21, 2017 , ... West Dermatology is pleased ... Vu, PA-C. Beginning July 17, 2017, Ms. Vu will join West Dermatology’s large network ... experience in dermatology, skin cancer , and more. She graduated from the University ...
(Date:7/21/2017)... ... July 21, 2017 , ... How physicians and ... the rise, say researchers presenting their work at the American Orthopaedic Society ... combination of evaluating the patterns of change in concussion symptom presentation, diagnostic tools ...
(Date:7/20/2017)... ... July 20, 2017 , ... Acute myeloid leukemia (AML) is ... rapidly without treatment. Newly diagnosed patients face intense chemotherapy regimens and a stem ... With such a challenging diagnosis that requires immediate action, patients and caregivers ...
(Date:7/20/2017)... ... ... For individuals with extended hospital stays or who are residents of nursing ... specially designed to accommodate patients with a wide range of ailments or special needs, ... has invented the patent-pending PORTABLE ARM REST, a specially designed armrest that features many ...
Breaking Medicine News(10 mins):