InVivo Therapeutics Corp., a life sciences company developing technologies for the treatment of spinal cord injuries, has signed a lease to open its first manufacturing and development facility in Medford. The company will use the facility to ramp up production of its lead therapeutic candidate – a polymer scaffolding device to treat open wound spinal cord injuries.
“This new development laboratory and manufacturing facility represents a critical component of our strategy and brings us one step closer to launching our first human clinical trial. We will put the space to use immediately while working toward securing a larger, commercial-scale cGMP facility here in the Commonwealth of Massachusetts,” Frank Reynolds, CEO of InVivo Therapeutics, said in a statement.
Once the company gets clearance from the U.S. Food and Drug Administration, Cambridge-based InVivo plans to start its first human trial on the device.
InVivo brought in a $10.5 million investment as part of a reverse merger last week , and subsequently repaid a $567,930 loan from the Massachusetts Life Sciences Center.
The company was founded in 2005 using technology from Massachusetts General Hospital in Boston and from the lab of MIT professor and serial entrepreneur Robert Langer.
