InVivo Therapeutics Corporation, a Burlington, Massachusetts-based research and clinical-stage biomaterials and biotechnology company founded in 2005 to develop treatments for spinal cord injuries, filed for Chapter 11 protection on February 1, 2024 in the U.S. Bankruptcy Court for the District of Delaware (Case No. 24-10137) before Judge Mary F. Walrath. The company's primary asset was the Neuro-Spinal Scaffold (NSS) implant, a bioresorbable polymer scaffold exclusively licensed from Boston Children's Hospital and MIT. The filing followed the failure of the INSPIRE 2.0 pivotal clinical trial in March 2023 to meet its primary endpoint. InVivo entered bankruptcy with approximately $5.4 million in unencumbered cash and no funded debt. Globus Medical, Inc. acquired certain assets for $312,000 in cash. The Joint Plan of Liquidation was confirmed June 21, 2024 and became effective July 12, 2024, establishing a Liquidation Trust.
