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InVivo Therapeutics Announces Promotions and New Organizational Roles to Further Drive Market Development and Awareness of Spinal Cord Injury Innovation

August 6, 2015

InVivo Therapeutics Holdings Corp. (NVIV) today announced promotions for two members of its management team.

Christopher McNulty has been appointed as Senior Vice President, Business Development and Investor Relations. He will continue to lead all business development and corporate communications efforts, including investor relations and public relations. This role is a promotion from his previous role as Vice President, Business Development and Investor Relations. Before coming to InVivo in November 2013, Mr. McNulty served as Senior Director of Business Development at Repligen Corporation. Previously, he was Director of Corporate Development at Seventh Sense Biosystems, and Associate Director of Business Development and Alliance Management at Genzyme Corporation. He has an M.B.A. from Harvard Business School and B.S. and M.Eng. degrees from MIT.

Alex Aimetti, Ph.D., has been promoted to the newly created position of Senior Director, Medical Education and Scientific Support. In this new role, Dr. Aimetti will be responsible for leading and managing all professional medical education programs for InVivo. Dr. Aimetti joined InVivo in April 2012, and has served in positions of increasing responsibility including R&D Manager, Biomaterials, and most recently Associate R&D Director, Biomaterials. Before joining InVivo, Dr. Aimetti was a Postdoctoral Research Fellow in the laboratory of Robert Langer, Sc.D. at MIT. Dr. Aimetti received his Bachelor of Science degree from Worcester Polytechnic Institute and holds a doctorate in Chemical & Biological Engineering from the University of Colorado Boulder.

Mark Perrin, InVivo’s Chief Executive Officer and Chairman, said, “I am very pleased to be announcing these two key promotions today. Chris has been an integral part of the senior management team since joining us and continues to lead both business development and corporate communication initiatives. Upon assuming his investor relations responsibilities, Chris has been a key member of the team responsible for our expanded interactions with the financial community, recent capital raises, and our listing on the Nasdaq.”

“Working cross-functionally, Alex will advance scientific communications related to our pipeline by leading the design and management of medical education programs and a range of non-promotional communication programs to health care providers and payers in the spinal cord injury market,” Mr. Perrin continued. “We have achieved significant clinical progress with the Neuro-Spinal Scaffold and we look forward to communicating our advances to the medical community and other key constituencies.”

About the Neuro-Spinal Scaffold

Following an acute spinal cord injury, the biodegradable Neuro-Spinal Scaffold is surgically implanted at the epicenter of the wound and is designed to act as a physical substrate for nerve sprouting. Appositional healing to spare spinal cord tissue, decreased post-traumatic cyst formation, and decreased spinal cord tissue pressure have been demonstrated in preclinical models of spinal cord contusion injury. The Neuro-Spinal Scaffold, an investigational device, has received a Humanitarian Use Device (HUD) designation and is currently being studied in an Investigational Device Exemption (IDE) pilot study for the treatment of patients with complete (AIS A) traumatic acute spinal cord injury.

About InVivo Therapeutics

InVivo Therapeutics Holdings Corp. is a research and clinical-stage biomaterials and biotechnology company with a focus on treatment of spinal cord injuries. The company was founded in 2005 with proprietary technology co-invented by Robert Langer, Sc.D., Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, M.D., who then was at Boston Children’s Hospital and who now is affiliated with Massachusetts General Hospital. In 2011, the company earned the David S. Apple Award from the American Spinal Injury Association for its outstanding contribution to spinal cord injury medicine. In 2015, the company’s investigational Neuro-Spinal Scaffold received the 2015 Becker’s Healthcare Spine Device Award. The publicly-traded company is headquartered in Cambridge, MA. 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. These statements can be identified by words such as "believe," "anticipate," "intend," "estimate," "will," "may," "should," "expect," “designed to,” “potentially,” and similar expressions, and include statements regarding the expected benefits, efficacy and future clinical outcomes of the company’s Neuro-Spinal Scaffold. Any forward-looking statements contained herein are based on current expectations, and are subject to a number of risks and uncertainties. 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 successfully open additional clinical sites for enrollment and to enroll additional patients; the timing of the Institutional Review Board process; the company’s ability to obtain FDA approval to modify its pilot trial protocol or to conduct a future study; the company’s ability to commercialize its products; 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 the treatment of 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 other risks associated with the company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies identified and described in more detail in the company’s Annual Report on Form 10-K for the year ended December 31, 2014, and its other filings with the SEC, including the company’s Form 10-Qs and current reports on Form 8-K. The company does not undertake to update these forward-looking statements.