CAMBRIDGE, Mass. (June 5, 2013) - InVivo Therapeutics Holdings Corp. (NVIV) , a developer of groundbreaking technologies for the treatment of spinal cord injuries (SCI) and other neurotrauma conditions, today announced that InVivo’s Chief Executive Officer and Chief Financial Officer Frank Reynolds has been named as a finalist in the fifth annual Boston Business Journal’s CFO of the Year Awards. Reynolds has been selected as a finalist in the Public Company category.
The Boston Business Journal’s annual CFO of the Year Awards luncheon celebrates CFOs who have made a difference in their companies and organizations. At the luncheon, which is scheduled for July 31, 2013, finalists will be recognized and a winner for each of the five categories will be announced. In addition to Public Company, the categories include Small Private, Medium Private, Large Private and Non-Profit. The following CFOs are nominated for Public Company CFO of the Year: Donald W. Palette of Skyworks Solutions, Inc. (SWKS); Steven Lipiner of BNY Mellon Investment Management, BNY Mellon (BK); and Christopher Menard of Brightcove Inc. (BCOV).
Said Reynolds, “My thanks to our Director of Finance, Sean Moran, and his team, Albert Pasakarnis, Brian Luque, and Tatiana Monteiro, who are tasked with executing on plan and under budget every day. Their efforts, along with great legal representation from Greenberg Traurig, have allowed us to maximize ROI around our cash investments in R&D. We’ve delivered a 10x return to investors based on cash spend, and, as the largest shareholder of InVivo, I’m certain we’ll continue our obsession with ROI-based spending while we prepare to support revenue-generating products in 2014.”
About InVivo Therapeutics
InVivo Therapeutics Holdings Corp. is utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed from traumatic spinal cord injuries. The company was founded in 2005 based on proprietary technology co-invented by Robert S. Langer, ScD. Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, MD, who is affiliated with Massachusetts General Hospital. In 2011, the company earned the prestigious David F. 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
Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934, and the Company intends that such statements are subject to the safe harbor created thereby. These statements include, but are not limited to, those relating to the potential up-listing of our common stock to a national securities exchange, and the impact of any such up-listing, such as increasing liquidity an unlocking inherent value in our stock. These forward-looking statements 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 up-list to a national securities exchange, as well as other factors are identified and described in more detail in our Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent filings with the SEC.
Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The Company undertakes no obligation and expressly disclaims any duty to update such statements.