InVivo adds Canada’s St. Michael’s Hospital to Inspire study

InVivo Therapeutics (NSDQ:NVIV) said today it added Toronto, Canada’s St. Michael’s Hospital as the 28th clinical site in the Inspire study of its neuro-spinal scaffold.

The Cambridge, Mass.-based company’s neuro-spinal scaffold is designed to be surgically implanted following acute spinal cord injuries to act as a physical substrate for nerve sprouting.

“My research focuses on engineering applications to neurosurgical procedures with the goal of improving safety and outcome for patients. The Inspire study holds much promise for this large unmet medical need and I look forward to participating,” study site investigator Howard Ginsberg said in prepared remarks.

“We are pleased to welcome Dr. Ginsberg and his team at the St. Michael’s Hospital to the Inspire study. The Toronto metropolitan area has the largest population in Canada, and St. Michael’s Hospital is one of 2 adult level I trauma centers to service the area,” InVivo CEO Mark Perrin said in a press release.

InVivo Therapeutics and its neuro-spinal scaffold are being pursued PixarBio (OTC:PXRB), led by former co-founder Frank Reynolds.  PixarBio last week upped its bid for the company to $100 million from an earlier offer of $77 million.

In a lengthy, nearly 2,700-word press release, PixarBio and Reynolds cited a -41.7% slide in the price of NVIV shares since January 2016 in making their case for the merger with PixarBio. Their proposal would create a new entity called Reynolds Therapeutic Corp. to pursue PixarBio’s NeuroRelease non-opioid pain treatment and InVivo’s scaffold technology for spinal cord injury repair. The deal is expected to close during the 1st quarter, they said.

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