InVivo Therapeutics Appoints Melanie Morel-Ferris, C.P.A. as Interim CFO, Replacing Steven McAllister in Role

CAMBRIDGE, Mass.–(BUSINESS WIRE)–InVivo Therapeutics Holdings Corp. (NVIV) today announced the resignation of Steven McAllister from the position of Chief Financial Officer effective December 31, 2016. He has indicated he will be transitioning to a new opportunity at a privately-held medical device company.

In connection with his departure, the Company has appointed Melanie Morel-Ferris, C.P.A. to assume the responsibilities and title of interim Chief Financial Officer, effective January 1, 2016. In this capacity, she will serve the role of the Company’s Principal Financial Officer and Principal Accounting Officer.

Ms. Morel-Ferris has served as the Company’s Controller since May, 2016. Prior to joining InVivo, Ms. Morel-Ferris served as the Corporate Controller of Astrodyne TDI, an electrical manufacturing company from July 2014 to May 2016. Prior to that, Ms. Morel-Ferris served as the Associate Director of Corporate Accounting of ARIAD Pharmaceuticals, Inc., a drug development company, from January 2014 to July 2014, and as a Senior Accounting Manager at ARIAD from January 2011 to December 2013. Ms. Morel-Ferris, who began her career at Deloitte, received a B.A. from Assumption College and is a Certified Public Accountant.

“We thank Steve for his significant contributions to InVivo over the last several years and wish him the best in his future endeavors,” Mark Perrin, InVivo’s Chief Executive Officer and Chairman, said. “We also would like to congratulate Melanie on her promotion to interim Chief Financial Officer. The Board of Directors conducts regular succession planning exercises, and Melanie had been identified as a potential successor if and when the opportunity presented itself. She brings a wealth of financial experience to the position and will be a valuable addition to the executive team.”

About InVivo Therapeutics

InVivo Therapeutics Holdings Corp. is a research and clinical-stage biomaterials and biotechnology company with a focus on treatment of spinal cord injuries. The company was founded in 2005 with proprietary technology co-invented by Robert Langer, Sc.D., Professor at Massachusetts Institute of Technology, and Joseph P. Vacanti, M.D., who then was at Boston Children’s Hospital and who now is affiliated with Massachusetts General Hospital. In 2011, the company earned the David S. Apple Award from the American Spinal Injury Association for its outstanding contribution to spinal cord injury medicine. In 2015, the company’s investigational Neuro-Spinal Scaffold^TM received the 2015 Becker’s Healthcare Spine Device Award. The publicly-traded company is headquartered in Cambridge, MA. For more details, visit www.invivotherapeutics.com.