HBIO Postpones Harvard Apparatus Regenerative Technology IPO
Harvard Bioscience (NASDAQ: HBIO) 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 separating that business.
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