We believe there is tremendous potential for our technology to treat other neurological conditions beyond spinal cord injury, and we are eager to move forward in bringing these therapies one step closer to broad market availability
Atlanta, GA (PRWEB) January 17, 2012
MissionIR would like to highlight InVivo Therapeutics, a publicly traded company focused on utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed as a result of traumatic spinal cord injury. The company was founded in 2005 on the basis of 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 the company’s news today,
InVivo Therapeutics Holdings Corp. and integrated health services organization Geisinger Health System announced their research collaboration to conduct a preclinical study using InVivo’s injectable biocompatible hydrogel to treat chronic pain caused by peripheral nerve compression.
InVivo said it plans to submit data from the study to the U.S. Food and Drug Administration (FDA) in 2012, marking the company’s first technology to treat degenerative neurologic conditions outside of the spinal cord.
The company noted that approximately 3.2 million chronic pain injections are performed in the U.S. each year to treat patients with back, leg, neck and arm pain. This statistic reflects an estimated $15 billion annual market for time-released anti-inflammatory therapies.
“Chronic peripheral nerve compression can have a devastating impact on an individual’s quality of life and even impair one’s ability to function on a day-to-day basis,” Dr. Jonathan Slotkin, a renowned expert in spinal cord injury treatment and director of spinal surgery and spinal cord injury research at Geisinger Health System’s Neurosciences Institute, stated in the press release. “InVivo’s innovative technology platform has already demonstrated success in the treatment of traumatic spinal cord injury in several study models, and we look forward to examining how this latest technology performs in this new application.”
Geisinger and InVivo will conduct their research in the Tapinos Lab of Molecular Neuroscience at the Weis Center for Research and the Slotkin Lab of Spinal Cord Injury Research at the Geisinger Clinic’s Neurosciences Institute. The endpoint of the study will be to determine the efficacy of injectable hydrogels for the controlled release of drugs to alleviate chronic pain resulting from compression-induced peripheral nerve damage.
Dr. Ed Wirth, InVivo’s chief science officer and one of the world’s foremost experts in spinal cord injury treatment and regenerative medicine, noted the prestige of the Geisinger research facility and the anticipated outcome of the upcoming research.
“The Geisinger Neurosciences Institute is one of the premiere facilities in the country for the study of innovative diagnostic and treatment approaches to neurologic disorders,” Dr. Wirth stated. “We believe there is tremendous potential for our technology to treat other neurological conditions beyond spinal cord injury, and we are eager to move forward in bringing these therapies one step closer to broad market availability.”
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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.