InVivo Therapeutics Holdings & Roche Holding AG News: (OTC:NVIV), (OTC:RHHBY)
New York, NY -- (ReleaseWire) -- 04/09/2013 --InVivo Therapeutics Holdings Corp. (OTC:NVIV) announced that it has commenced an offer to exchange outstanding warrants issued in 2010 to purchase approximately 15.0 million common shares ("2010 warrants") for new warrants.
The 2010 warrants have exercise prices of $1.40 and $1.00 per share and expire in 2015. One of the primary reasons for the offering is to facilitate the Company’s plans to uplist its stock to a national securities exchange such as NASDAQ or NYSE MKT.
InVivo Therapeutics Holdings Corp. is focused on utilizing polymers as a platform technology to develop treatments to improve function in individuals paralyzed as a result of traumatic spinal cord injury.
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Roche Holding AG (OTC:RHHBY) announced that they have formed an alliance to develop treatments for Huntington's disease (HD) based on Isis' antisense oligonucleotide (ASO) technology.
This alliance combines Isis' antisense expertise with Roche's scientific expertise in developing neurodegenerative therapeutics. In addition, Isis and Roche will be collaborating to combine Isis' ASOs and Roche's proprietary "brain shuttle" program with the objective of increasing the brain penetration of ASOs with systemic administration.
Under the terms of the agreement, Roche will make an upfront payment of $30 million to Isis, with total payments related to license fee and pre- and post-licensing milestone payments reaching potentially $362 million, including up to $80 million in potential commercial milestone payments.
Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics.
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View this press release online at: http://rwire.com/234979