Richard Toselli, M.D. Appointed President and Chief Executive Officer of InVivo Therapeutics

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Dr. Toselli Also Joins Board of Directors, Retains Position as InVivo’s Chief Medical Officer

In Vivo Therapeutics reports that Dr. Toselli also has been appointed to the company’s Board of Directors and will continue to serve in his capacity as InVivo’s Chief Medical Officer, which role he assumed upon joining the company in July 2017. Dr. Toselli, a Board-certified neurosurgeon, has led an accomplished career in surgical medical affairs, with senior leadership experience at Sanofi, DePuy, and Johnson & Johnson.

Ann Merrifield, InVivo’s Chair of the Board of Directors commented, “I am delighted to announce Rich’s full-time role as CEO. “Rich has demonstrated clear vision, a strategic mind, and committed leadership in his time at InVivo. His background in surgical device innovation and neurological surgery is uniquely suited to the company’s focus in development.”

Dr. Toselli said, “I am excited about the opportunity to work closely with our seasoned leadership team and accomplished Board members and advisors as we chart the company’s path forward. Our priority is to focus on our core competencies, advance our breakthrough Neuro-Spinal Scaffold™ clinical program, and achieve this progress in an expedited, cost-efficient manner. We continue to evaluate our strategic and financing options, regarding which we believe we have gained additional flexibility by entering into the recently announced stock purchase agreement with Lincoln Park.”

Dr. Toselli continued, “As we have previously announced, we are in ongoing discussions with the FDA, including the potential of a proposed randomized controlled clinical trial to supplement the existing clinical evidence we have attained in our INSPIRE study for our Neuro-Spinal Scaffold™ investigational device. We expect to provide additional clarity on this clinical path in the second quarter of this year.”