CAMBRIDGE, Mass. (February 22, 2012) – InVivo Therapeutics Holdings Corp. (OTC/BB: NVIV), announced today that former Stryker biomaterials product development specialist, Brian Hess, has joined InVivo as its Director of Product Development.

As Director of Product Development, Hess will be managing, developing and maintaining the pipeline for the entire portfolio of InVivo products. Hess will lead the translation of InVivo’s technologies from research and development through clinical trials and into production manufacturing by developing specifications, protocols and reports.

Prior to joining InVivo Therapeutics, Hess spent the past eight years at Stryker developing biomaterial technologies for the orthopedic market, and he has led multiple product development teams through the FDA process. Hess was instrumental in developing HydroSetTM, an injectable calcium phosphate based bone substitute, from concept to product launch. The product has become the market-leading bone scaffold, and Stryker awarded Hess and his team with “Best Technology” and “Best Team Synergy” for their work on this critical product.

“I’ve been impressed with the cutting-edge work from the InVivo Therapeutics team on the development of the biopolymer scaffold technologies and the impact it can have on the future of neurological treatments,” Hess said. “I am honored to join the team to help bring this product and others in the research and development phase to market.”

Hess also won several research and development awards during his tenure at Stryker. Most notably he was named “Co-Innovator of the Year” in 2010 within Stryker Orthopeadics for his work on a novel bone adhesive technology that has the potential to replace metal fixation in the body and revolutionize the orthopedic fixation market. He spent the past three years working with his team demonstrating its feasibility and safe use as his program grew to a team of more than 25 engineers and scientists.

InVivo Chief Executive Officer Frank Reynolds said, “We believe Brian’s past successes in the medical device industry will lead the commercialization of the three products we intend to have under review at FDA this year, as well as help to bring our portfolio of products for other neurological conditions successfully to the market in the coming years.”

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Aegis Capital Corp. and Summer Street Research Partners are acting as joint book-running managers for the offering.

The securities described above are being offered by InVivo pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”), which the SEC declared effective on January 19, 2012. A final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.  Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 11th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com, or from Summer Street Research Partners, Prospectus Department, 101 Arch Street, Suite 2010, Boston, MA, 02110, telephone: 617-532-6400 or email: cyrusa@ssrp.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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Aegis Capital Corp. and Summer Street Research Partners are acting as joint book-running managers for the offering.

The securities described above are being offered by InVivo pursuant to a shelf registration statement previously filed with the Securities and Exchange Commission (the “SEC”), which the SEC declared effective on January 19, 2012. A final prospectus supplement related to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 11th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com, or from Summer Street Research Partners, Prospectus Department, 101 Arch Street, Suite 2010, Boston, MA, 02110, telephone: 617-532-6400 or email: cyrusa@ssrp.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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InVivo Therapeutics has pioneered a new treatment platform that uses a biocompatible polymer-based scaffold to provide structural support to a damaged spinal cord in order to spare tissue from scarring while improving recovery and prognosis after a traumatic spinal cord injury. Reynolds will discuss the scaffold and how it is expected to work in humans, as well as results from InVivo’s largest non-human primate study.

“The recent spinal cord injuries of two local high school hockey players magnify the need for SCI treatments. Our therapeutic approach confirms a clear paradigm shift in the care of such injuries and we expect that our technology will change the standard treatment for SCI,” said Reynolds. “We’re currently under review at FDA and we look forward to receiving approval to begin human studies. Having worked in conjunction with the Boston Bruins Foundation and with hockey players injured in New England, we understand the needs that these players and their families will have, and we look forward to helping in any way that we can.”

KMSP-TV is the local FOX affiliate and KSTP-TV is the local ABC affiliate in Minneapolis.

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CEO Frank Reynolds Discusses InVivo Therapeutics Scaffold Technology.

Back and leg pain along with neck and arm pain arm amongst the top five most common reasons for physician visit worldwide. Patients with peripheral nerve compression often experience chronic pain, tingling and numbness in the extremities, and approximately 3,200,000 chronic pain injections are performed annually in the U.S. to treat these conditions. InVivo will leverage its SCI platform technology to provide time-released anti-inflammatory therapies to this estimated $15B annual market.

“Chronic peripheral nerve compression can have a devastating impact on an individual’s quality of life and even impair one’s ability to function on a day-to-day basis,” said Dr. Jonathan Slotkin, a renowned expert in spinal cord injury treatment and director of spinal surgery and spinal cord injury research at Geisinger Health System’s Neurosciences Institute. “InVivo’s innovative technology platform has already demonstrated success in the treatment of traumatic spinal cord injury in several study models, and we look forward to examining how this latest technology performs in this new application.”

The study will be conducted jointly in the Tapinos Lab of Molecular Neuroscience at the Weis Center for Research and the Slotkin Lab of Spinal Cord Injury Research at the Geisinger Clinic’s Neurosciences Institute. The endpoint of the study will be the effectiveness of using injectable hydrogels for the controlled release of drugs to alleviate chronic pain resulting from compression-induced peripheral nerve damage. The study will compare the resulting molecular and behavioral impact among rodents receiving the injectable scaffold with drug therapy, the injectable scaffold alone, injectable drug therapy alone and a control group receiving no injection.

“The Geisinger Neurosciences Institute is one of the premiere facilities in the country for the study of innovative diagnostic and treatment approaches to neurologic disorders,” said Dr. Ed Wirth, InVivo’s chief science officer and one of the world’s foremost experts in spinal cord injury treatment and regenerative medicine. “We believe there is tremendous potential for our technology to treat other neurological conditions beyond spinal cord injury, and we are eager to move forward in bringing these therapies one step closer to broad market availability.”

InVivo is currently awaiting FDA approval to commence the first human clinical study using its proprietary polymer scaffolding device to provide structural support to a damaged spinal cord to help prevent paralysis and improve recovery and prognosis for patients with acute spinal cord injury. The human study is expected to begin in 2012.

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At the time of the presentation, participants can view a live audio and high-definition video webcast of InVivo Therapeutics’ presentation. A copy of the presentation materials will also be available through the Noble Financial websites: www.noblefcm.com, or www.BOCEM2012.com. InVivo Therapeutics recommends registering at least 10 minutes prior to the start of the presentation to ensure timely access. The webcast and presentation will also archived on InVivo Therapeutics’ website for 90 days following the event.

The BOCEMb 2012 Equity Conference is sponsored by Noble Financial Capital Markets. The conference provides informational services and networking opportunities for public companies and investors. Noble Financial Capital Markets is an equity research driven, full-service, investment banking boutique focused on small-cap, emerging growth companies.

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InVivo Therapeutics has pioneered a new treatment platform that uses a biocompatible polymer-based scaffold to provide structural support to a damaged spinal cord in order to spare tissue from scarring while improving recovery and prognosis after a traumatic spinal cord injury. Reynolds will discuss the scaffold and how it is expected to work in humans, as well as results from InVivo’s largest non-human primate study.

“We expect that our technology will change the standard of care for spinal cord injury treatment. We’re currently under review at FDA and we look forward to receiving approval from FDA to begin human studies,” said Reynolds. “Our therapeutic approach confirms a clear paradigm shift in the treatment of spinal cord injuries, and we look forward to being on KTXL-TV.”

FOX40 Live is a top morning show in Sacramento airing Monday through Fridays from 4:30-10:00 AM PST.

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Reynolds is scheduled to present and participate in the Regenerative Medicine Insight Track on Tuesday, January 10th from 1:30-3:00 pm PST in the section on CNS, Ophthalmology and Spinal Injury. Frank will present an overview of InVivo’s innovative biomaterial scaffold technology. The company is currently awaiting FDA approval to move forward with its first human clinical study for acute SCI treatment using its proprietary scaffold to provide structural support to a damaged spinal cord to help prevent paralysis and improve recovery and prognosis for patients. The pilot study is expected to begin in 2012.

In addition, both Reynolds and InVivo’s Director of Finance, Sean Moran, will be available throughout the event for one-on-one meetings with investors by appointment only. To schedule a meeting, registered attendees can submit a meeting request through the conference website (http://www.ebdgroup.com/bts/partnering/index.php).
The BioTech Showcase is a forum devoted to enable private and public life science companies the opportunity to present to an audience of investors and business development executives. Now in its fourth year, this rapidly growing financial-focused biotech conference features multiple tracks of presenting companies, plenary sessions, an opportunity to schedule one-on-one partnering meeting and networking.

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The Economist was established in 1843 and is now recognized as one of the most important contributors to economic growth. The annual Economist Innovation Awards recognizes talented people presented in eight fields: bioscience, computing and telecommunications, energy and the environment, social and economic innovation, business-process innovation, consumer products, a flexible “no boundaries” category, and the corporate use of innovation.

Dr. Langer was awarded in the Bioscience category for his pioneering work on controlled-release drug deliver and tissue engineering, which has benefited tens of millions of people.

Dr. Langer is the most cited engineer in history, having written nearly 1,130 articles and holding more than 800 issued or pending patents. Dr. Langer’s research has resulted in a suite of patents for InVivo, a company dedicated to the development of groundbreaking technologies for the treatment of spinal cord injuries.

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