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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 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 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 prospectus relating 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.