Harvard Bioscience, Inc. (HBIO) said Tuesday 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 also said it will continue to explore alternatives related to its regenerative medicine device business, including the optimal timing and methodology of separating that business.
For comments and feedback: editorial@rttnews.com