InVivo Therapeutics Holdings Corp. (NVIV), and MassDevelopment announced today
that MassDevelopment has awarded InVivo Therapeutics a $2 million loan from
its Emerging Technology Fund to help fund the commercialization of InVivo's
groundbreaking technologies for the treatment of spinal cord injuries (SCI)
and other neurotrauma conditions. InVivo will use the proceeds from this low
cost, seven year term loan for general working capital purposes and to
purchase equipment for the expansion of manufacturing and research
capabilities at its new facility in Cambridge MA. As InVivo's business grows,
the Company expects to substantially increase employment in manufacturing,
sales, marketing, clinical, and regulatory positions over the next two years.
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