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PixarBio withdraws bid for InVivo Therapeutics

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PixarBio Corporation announced it has withdrawn its offer for InVivo Therapeutics for reasons related to management credibility and competence, corporate governance and intellectual property control, according to a company press release. The bid was originally announced on Jan. 3, 2017.

According to the release, PixarBio will continue to focus on its NeuroRelease pain platform and the company noted it expects to receive FDA approval for its non-opiate, non-addictive morphine replacement around the end of 2018 and early 2019.

Reference:

www.pixarbio.com