Boston, Mass., USA - August 26, 2013, Boston, Mass., USA - InVivo Therapeutics Holdings announced that Francis M. Reynolds has resigned from his positions as chairman, CEO and CFO.
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Mr. Reynolds co-founded InVivo Therapeutics in 2005. In October 2010, Mr. Reynolds successfully took the company public trading as InVivo Therapeutics Holdings Corp. under stock symbol NVIV. He is a co-inventor on 28 of InVivo's 100+ patents and he is co-author and winner of the "2011 David F. Apple Award" given by the American Spinal Injury Association to the top published paper in the world for SCI research.
Mr. Reynolds is the former Director of Global Business Development at Siemens Corporation where he had global responsibility for business development. He has more than 30 years of executive management experience and was the founder & CEO of Expand The Knowledge. He is an Executive Board Member of the Irish American Business Chamber and has served on the board of the Special Olympics of Massachusetts, and Philadelphia Cares.
Mr. Reynolds was awarded the 2010 Irish Life Science 50 Award by the President of Ireland, Mary McAleese. He holds a Master of Business Administration from Sloan Fellows Program in Global Innovation and Leadership - Massachusetts Institute of Technology; a Master of Science in Engineering – University of Pennsylvania; and he is an alumni of the Executive Masters of Technology Management - Wharton School of Business.
Mr. Reynolds also has Master of Science degree in Management Information Systems – Temple University; a Master's of Science in Health Administration – Saint Joseph's University; and a Master's of Science in Counseling Psychology – Chestnut Hill College. He also has a Bachelor of Science in Marketing- Rider University.
Mr. Reynolds is a Sloan Fellow of MIT, a Moore Fellow of the School of Engineering: University of Pennsylvania, and an IT Fellow of Fox School of Business: Temple University. He is a frequent lecturer on innovation and entrepreneurship at MIT.
The company also announced that it has appointed Michael J. Astrue as interim CEO and Sean Moran, the company's Director of Finance, as acting CFO.
Mr. Astrue is currently the non-executive Chairman of the Board at Vivus, Inc., a Nasdaq-listed biopharmaceutical company. He comes to InVivo with more than 10 years of experience in the biopharmaceutical and biotechnology industries.
Mr. Astrue served as the interim CEO of Epix Pharmaceuticals and previously served as the President and CEO of Transkaryotic Therapies. He has also served in a number of government positions, including as Commissioner of the Social Security Administration from 2007 to 2013.
Mr. Moran joined InVivo in 2010 as Director of Finance. Prior to joining the Company, he served as CFO at Celsion Corporation, a biotechnology company, from 2008 to 2010, and as CFO of Transport Pharmaceuticals, a transdermal drug delivery company from 2006 to 2008. ■