By: Dylan Sikes - AllPennyStocks.com News

Wednesday, July 10, 2013

It’s been four and one-half years now since the U.S. Food and Drug Administration approved the request from Geron Corporation to test embryonic stem cells on a handful of patients with severe spinal cord injuries. The stem cells business has grown leaps and bounds in a relatively short period of time since that historic moment. In addition to a host of clinical trials moving far beyond early stages, the controversy over embryonic stem cells has cooled with a budding library of research demonstrating the potency and therapeutic benefit of adult stem cells. On that point, in May, scientists for the first time were able to make an embryonic stem cell line from human skin cells by reprogramming the cells back to their embryonic state.

Ultimately, Geron (Nasdaq:GERN) hit some roadblocks in the research and shuttered its stem cell business, eventually striking a deal to sell the assets to BioTime, Inc. (AMEX:BTX) earlier this year.

Although advancements have certainly been made, spinal cord injuries, or SCI, have remained stubbornly resistant to therapies with current standards of care primarily focused on symptoms, rather than the underlying pathology. As noted in a press release on Wednesday by InVivo Therapeutics (OTCBB:NVIV), the average lifetime cost of care for quadriplegic patients can exceed $6.2 million.

Cambridge, Massachussets-based InVivo is focused on utilizing polymers as a platform technology to develop therapies for individuals paralyzed from SCI. The company employs a strategy of mitigating bleeding, inflammation and cell death to protect tissue immediately following traumatic SCI to support subsequent repair and recovery. The technology saves tissue which then can receive additional therapeutics, including cell delivery to foster healing. In animal research, InVivo claims a 100-percent success rate with more than 40 monkies with SCI “up and running,” following the InVivo treatment.

In April, the FDA granted clearance for InVivo to start human trials of their biopolymer scaffold product through a humanitarian use device exemption. This exemption can significantly shorten the clinical trial process and the number of patients that are required.

The company says it intends to treat five SCI patients in the initial trial, which is expected to start in the fall and last about 15 months.

In today’s news, InVivo reported a partnering with the New York Mets to create Major League Baseball’s first Spinal Cord Awareness Day, scheduled for Sunday, September 15 at Citi Field when the Mets play the Miami Marlins. The day will include a donation to the Greater New York Chapter of the National Spinal Cord Injury Association (NSCIA) by InVivo, public service announements during the game and SCI patients getting to watch the game from the Modell Clubhouse (which was also donated to NSCIA for the day).

“The New York Mets have gone overboard to make sure this first SCI Awareness Day at Citi Field will be amazing,” said Frank Reynolds, chief executive at InVivo. “We have donated more than a hundred tickets for people in chairs to experience the Mets from the field, and we expect the day to not only lead to a Mets win, but to a real uplifting of the human spirit as SCI patients and families get to experience the understanding of New York Mets fans.”

More than just a “feel good” story for SCI and baseball, InVivo has made more than one shareholder smile with shares climbing from lows in late 2011 at 60 cents to $3.96 as on Tuesday’s close. Shares traded as high as $4.75 in June after the company announced raising $16.1 million from warrant call and exercises. The raise wiped a $24.6 million warrant liability from InVivo’s books and left the company with $23.6 million in cash on hand and $23.7 million in stockholder’s equity, exceeding requirements for a potential uplist to a senior exchange.

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