PixarBio Corporation has announced that it withdraws the offer for InVivo Therapeutics Corp for reasons related to management credibility and competence, corporate governance and IP control.

The company will stay focused on NeuroRelease Pain platform and continue to drive non-opiate non addictive morphine replacement to market with FDA approval expected between the end of 2018 and early 2019.

PixarBio has an IP portfolio covering pain, spinal cord injury, and epilepsy and it believe that it will become future market leaders with existing, and growing PixarBio patent and IP portfolio for various drug delivery systems.

PixarBio is a public company traded on the OTC markets under the stock symbol PXRB. PixarBio is a specialty pharmaceutical/biotechnology company focused on pre-clinical and clinical commercial development of novel neurological drug delivery systems for post-operative pain. PixarBio researches and develops targeted delivery systems for drugs, devices, or biologics to treat pain, epilepsy, Parkinson’s disease, and spinal cord injury. The lead product platform, NeuroRelease, has achieved sustained therapeutic release of non-opiate drugs for post-operative, acute and chronic pain in pre-clinical models.