Former Harvard Bioscience Subsidiary Now Independent Public Company
HOLLISTON, Mass.--(BUSINESS WIRE)--
Effective today, Harvard Apparatus Regenerative Technology, Inc.
(NASDAQ:HART), a biotechnology company developing regenerative medicine
therapies, initially for trachea cancer, has begun trading on the NASDAQ
exchange under the ticker symbol HART after being spun off by Harvard
Harvard Apparatus Regenerative Technology (HART) was created to bring
the life-saving therapies pioneered at Harvard Bioscience to patients.
HART’s regenerative technology has been used in ten successful human
airway transplants to date. HART’s first therapeutic product, the
InBreath TM Airway Transplant System, uses a synthetic
plastic scaffold in the size and shape of the patient’s natural trachea
that, prior to surgery, is seeded with the patient’s own bone marrow
cells in a specialized bioreactor. Because the system uses the patient’s
own bone marrow the body does not reject the new organ, making
anti-rejection medications following this type of transplant
unnecessary. The first two of these surgeries were “world firsts” and
were published in The Lancet, one of the most respected
peer-reviewed global medical journals.
David Green, formerly the President of Harvard Bioscience, is now
serving as President and CEO of Harvard Apparatus Regenerative
Mr. Green commented, “This is a pivotal moment for Harvard Apparatus
Regenerative Technology. As an independent public company we will be
able to focus exclusively on bringing this life-saving therapy to
patients with trachea cancer or other damage to the trachea. Now, with
the completion of the spin-off and the contribution of $15 million in
cash from Harvard Bioscience, we look forward to advancing this therapy
in clinical research towards FDA and EMEA marketing approvals in the
United States and Europe.”
About Harvard Apparatus Regenerative Technology
Harvard Apparatus Regenerative Technology is a clinical stage
regenerative medicine company developing life-saving medical products.
Our first product, the InBreath TM Airway Transplant System,
is intended to repair a trachea that has been severely damaged by either
trachea cancer or physical trauma. None of our products are yet approved
by a government regulatory authority for marketing. On November 1, 2013,
HART was spun-off from Harvard Bioscience. We have filed a trademark
application with respect to the InBreath trademark. The trademark
“Harvard Apparatus” is used under a sublicense agreement with Harvard
Bioscience, who has licensed the right to use such trademark from
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 planned
commercialization efforts and marketing approvals of HART’s products as
well as the success thereof and the availability of a market for the
HART securities,. 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 Apparatus Regenerative
Technology 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.
Harvard Apparatus Regenerative Technology
Dian Griesel Int’l.
Cheryl Schneider, 212-825-3210
Dian Griesel Int’l.
Susan Forman or Laura Radocaj
Source: Harvard Apparatus Regenerative Technology, Inc.