HBIO Announces Postponement of the IPO for Harvard Apparatus Regenerative
HOLLISTON, Mass., April 9, 2013 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc.
(Nasdaq:HBIO), a global developer, manufacturer, and marketer of a broad range
of tools to advance life science research and regenerative medicine, today
announced that the planned initial public offering by its wholly-owned
regenerative medicine device subsidiary, Harvard Apparatus Regenerative
Technology, Inc., or HART, has been postponed due to market conditions.
Harvard Bioscience continues to believe that the best path to maximizing value
for its shareholders is to separate its regenerative medicine device business
from its profitable core life science research tools business.
HART will continue to pursue certain clinical development milestones,
including a trachea transplant clinical trial plan agreement with the FDA,
completion of surgeries with synthetic scaffolds manufactured by HART and
completion of trachea transplant surgeries in the U.S. Harvard Bioscience will
continue to explore alternatives related to its regenerative medicine device
business, including the optimal timing and methodology of separatingthat
Some of the statements in this press release are "forward-looking" and are
made pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. These "forward-looking" statements include
statements relating to, among other things, the postponed IPO of Harvard
Apparatus Regenerative Technology. These statements involve risks and
uncertainties, including among other things, market conditions that may cause
results to differ materially from the statements set forth in this press
release. The forward-looking statements in this press release speak only as of
the date of this press release. Harvard Bioscience expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to such
statements to reflect any change in its expectations with regard thereto or
any changes in the events, conditions or circumstances on which any such
statement is based.
A registration statement including a prospectusrelating to the common stock
of HART has been filed with the Securities and Exchange Commission but has not
yet become effective. These securities may not be sold nor may offers to buy
these securities be accepted before the time the registration statement
becomes effective. This press release shall not constitute an offer to sell or
a solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
The Harvard Bioscience, Inc. logo is available at
CONTACT: David Green
Tel: 508 893 8999
Fax: 508 429 8478
Harvard Bioscience, Inc. Logo
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