InVivo Therapeutics CFO Resigns

InVivo Therapeutics Holdings Corp.’s Chief Financial Officer (CFO) Steven McAllister is resigning, effective Dec. 31. He is leaving for a new opportunity at a privately-held medical device company.
 
In connection with his departure, company executives have appointed Melanie Morel-Ferris, C.P.A., to assume the responsibilities and CFO title, effective Jan. 1, 2017. In this capacity, she will serve the role of the company’s principal financial officer and principal accounting officer.
 
Morel-Ferris has served as the company’s controller since May 2016. Prior to joining InVivo, Morel-Ferris served as the corporate controller of Astrodyne TDI, an electrical manufacturing company from July 2014 to May 2016. Prior to that, 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.

Morel-Ferris began her career at Deloitte. She received a bachelor of arts degree 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,” InVivo CEO and Chairman Mark Perrin 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.”
 
InVivo Therapeutics Holdings Corp. is a research and clinical-stage biomaterials and biotechnology company with a focus on the 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 contribution to spinal cord injury medicine. In 2015, the company’s investigational Neuro-Spinal ScaffoldTM received the 2015 Becker’s Healthcare Spine Device Award. The publicly-traded firm is headquartered in Cambridge, Mass.