INVIVO THERAPEUTICS HOLDINGS CORP. (NASDAQ:NVIV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 9.01 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February2, 2018, the Board of Directors (the “Board”) of InVivo Therapeutics Holdings Corp. (the “Company”) appointed Richard Toselli, M.D. as President and Chief Executive Officer, effective immediately. Following the recommendation of the Board’s Governance and Nominating Committee, the Board also elected Dr.Toselli to serve on the Board as a director, effective immediately. Dr.Toselli has been designated as a class III director to serve in accordance with the Company’s By-Laws until the Company’s 2020 Annual Meeting of Stockholders and until his successor has been duly elected and qualified, or until his earlier death, resignation, retirement, removal, or disqualification.
Dr.Toselli, 60, has served as the Company’s Acting Chief Executive Officer since December2017, and will continue to serve in his capacity as the Company’s Chief Medical Officer, a role he has held since July2017. The terms of Dr.Toselli’s employment will be governed by the employment agreement Dr.Toselli entered into in connection with his appointment as Acting Chief Executive Officer on December18, 2017, a copy of which was filed as Exhibit10.27 to the Company’s Registration Statement on FormS-1 (File No 333-222738) filed with the SEC on January26, 2018 and is incorporated herein by reference.
Also in connection with his previous appointment as Acting Chief Executive Officer, Dr.Toselli entered into the Company’s standard form of indemnification agreement, a copy of which was filed as Exhibit10.19 to the Company’s Registration Statement on FormS-1 (File No.333- 171998) filed with the SEC on February1, 2011 and is incorporated herein by reference.
Dr.Toselli has no family relationship with any of the executive officers or directors of the Company. There are no arrangements or understandings between Dr.Toselli and any other person to which he was elected as an officer and director of the Company. Dr.Toselli has not engaged in any transactions with the Company or its subsidiaries that are required to be disclosed under Item 404(a)of Regulation S-K, nor have any such transactions been proposed.
Prior to joining the Company, Dr.Toselli served as the Chief Medical Officer for Cochlear Limited, a medical device company, from June2016 until March2017. Prior to that, Dr.Toselli served at Sanofi, a pharmaceutical company, from July2012 to June2016 in various levels of increasing responsibility, including Vice President of Global Medical Affairs — Immunology and Inflammation, Biologics Division; Vice President of Global Medical Affairs and Head of the Biosurgery Discovery Performance Unit; and Vice President of Global Medical Affairs, Biosurgery. Before his time at Sanofi, he served as Chief Medical/Technology Officer for Covidien Public Limited Company (now Medtronic Public Limited Company), a medical device company, and earlier held the position of Vice President of Evidence-Based Medicine for the device sector at Johnson& Johnson, a medical device, pharmaceutical and consumer packaged goods manufacturing company. Prior to that, Dr.Toselli held various roles at DePuy Synthes Spine,Inc., a medical device company, including Director of Medical Affairs, Worldwide Vice President of Research and Development, and Worldwide Vice President of Clinical Evidence and External Relations.
Item 9.01 Regulation FD Disclosure
On February5, 2018, the Company issued a press release relating to Dr.Toselli’s appointment as the Company’s President and Chief Executive Officer and election to the Board. A copy is furnished herewith.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
*This exhibit shall be deemed to be furnished, and not filed
