Healthcare Industry News: Traumatic Spinal Cord Injury
News Release - May 30, 2012
Former Stryker Executive Robert Housler Jr. Joins InVivo Therapeutics as Vice President of Business DevelopmentMoves from Stryker as InVivo Makes Progress Toward Commercialization
CAMBRIDGE, Mass.--(Healthcare Sales & Marketing Network)--InVivo Therapeutics Holdings Corp. (OTCBB: NVIV), announced today that former Stryker Spine, Inc. executive Robert Housler Jr., will be joining the company as the Vice President of Business Development.
Mr. Housler will bring over 20 years of pertinent industry experience to InVivo that will be critical to the company’s next stage of growth, according to CEO Frank Reynolds. Mr. Housler spent the last five years at Stryker Spine as Director of Strategic Sales, and also led global Medical Education efforts. While at Stryker, he created a business development strategy to grow domestic sales to $440 million. During his time at Stryker he advanced through the ranks, rising to regional, national and international executive sales positions. Housler received his MBA at the State University of New York at Buffalo.
As Vice President of Business Development, Mr. Housler will lead InVivo’s effort to establish strategic relationships and partnerships including targeted licensing of InVivo’s technologies to neurotrauma industry leaders. InVivo is currently extending the Company’s pipeline beyond spinal cord injury treatments into a wide range of applications, including the estimated $22 billion annual market for chronic peripheral nerve pain. Later this year, InVivo also plans to submit hydrogel-based applications to the U.S. Food and Drug Administration (FDA) for the treatments of spinal cord injuries and other nervous system conditions. With this progress, Mr. Housler will spearhead the efforts to get the technologies out in the marketplace.
“InVivo’s scientific team and awards speak for themselves, and I’ve been impressed with the recent developments InVivo has made to prepare for commercialization,” said Mr. Housler. “As the company comes closer to achieving FDA approval to begin human trials, the HDE approval process will provide us with an expedited path to revenue, and we need to be prepared to meet market needs. In addition, applications outside of the spinal cord will require partnerships for development and I look forward to putting these agreements into place as soon as possible. I am honored to join the team to help make these technologies a success.”
InVivo Chief Executive Officer Frank Reynolds said, “Bob’s successes in leading and executing a business development strategy in the medical device industry, specifically focusing on the spine, will help us to drive rapid growth and adoption of InVivo’s products. With a clear HDE pathway, we believe that we’ll quickly advance our scaffolding device and other technologies to commercialization while generating revenue through partnerships in the near-term.”
Potential partners or researchers interested in participating in the 2012 Langer Neurotrauma Summit near Boston, Mass. in July 2012, please email email@example.com.
For more information about InVivo Therapeutics’ technologies, visit www.invivotherapeutics.com.
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is 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 2011, the company earned the prestigious 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, Mass. 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 sell additional shares of common stock and warrants to purchase common stock at additional closings, 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, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including our Form 10-K and Form 10-Qs and our current reports on Form 8-K. We do not undertake to update these forward-looking statements made by us.
Source: InVivo Therapeutics
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