This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Spencer Trask Congratulates InVivo Therapeutics On Its Recent Approvals From The FDA

GREENWICH, Conn., April 5, 2013 /PRNewswire/ -- Spencer Trask, a venture capital firm focused on developing big ideas into world-changing companies, congratulates InVivo Therapeutics (NVIV), for its recent approvals from the U.S. Food and Drug Administration (FDA). On the heels of FDA approval for Humanitarian Use Device (HUD) designation (an important benchmark and speed-to-market catalyst), InVivo has received yet another important FDA approval – Investigational Device Exemption (IDE), allowing human trials to begin. 

With IDE approval, InVivo will now be able to run first-in-man clinical trials to confirm safety and performance of its biopolymer scaffold. There are currently no treatment options approved by the FDA, or in clinical trials, to intervene directly in the spinal cord following a spinal cord injury. "We believe InVivo's treatment for spinal cord injuries could have a profound impact. If this is approved, it will change lives," said Kevin Kimberlin, Chairman of Spencer Trask & Co. "This is what we are all about – helping entrepreneurs brave enough to work on tough problems, like ending paralysis due to spinal cord injuries."

Spencer Trask Ventures raised $13 million in early-stage funding for InVivo in December of 2010 through its network of individual investors at a share price of $1.00

"The funding from Spencer Trask came at a critical time in InVivo's growth – it enabled us to take the next step and expand our facility," said Frank Reynolds, CEO of InVivo Therapeutics. "That was an important milestone for InVivo, and I want to thank those early investors for helping us grow our big idea. These recent FDA approvals take us two giant steps closer to achieving a viable treatment for spinal cord injuries." 

Other Spencer Trask firsts include: Myriad Genetics, the first human genome company; Ciena, the first wave division multiplexing system to power the Internet; Osiris, the first company with an FDA-approved stem cell therapy; and Next Level Communications, the first VDSL broadband system.

About Spencer Trask & Co. and Spencer Trask Ventures Spencer Trask is a venture capital firm that transforms bright ideas into great companies. Through a collaborative network of business leaders, domain experts and individual investors, Spencer Trask builds market-leading companies with a sustainable competitive advantage. Clients invest on a deal-by-deal basis rather than through a fund. Spencer Trask Ventures is a wholly owned subsidiary of Spencer Trask & Co.

SOURCE Spencer Trask

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs