HOLLISTON, Mass., April 21, 2011 (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, was featured on TheStreet.com in a video interview titled "Growing Organs - Growing Sales" on April 18, 2011.
"We are not ourselves a therapeutics company," Mr. Green, tells TheStreet.com reporter Debra Borchardt. "We are not trying to sell cells. We sell devices. We sell equipment that is used by the surgeons to grow the organs outside the body for transplant." Mr. Green also noted, "We think the revenue opportunity here is hundreds of millions of dollars in [the sale of] clinical devices for regenerative medicine applications."
Harvard Bioscience's strategy in regenerative medicine is:
- To create devices not discover pharmaceuticals as this reduces risk compared to a therapeutics company
- To build these devices on our existing technologies and brands as this reduces the investment needed to get to market, and
- To develop devices with a significant disposable revenue stream as this is both clinically desirable and allows us to participate on a per-procedure basis and not just on the sale of an instrument
As discussed previously in more detail on our Q4 2010 earnings call, we are currently reviewing our strategic alternatives for funding the regenerative medicine business as believe there may be an opportunity to address a larger market within regenerative medicine by partnering with third parties who can bring funding, technology, or both.
To view complete footage of the segment, please access the following link: http://www.thestreet.com/video/11085726/harvard-biosciences-ceo-growing-organs--growing-sales.html#908802731001
During the interview Mr. Green also comments on the core business's 2011 earnings growth. Investors should review the Company's earnings release of February 25, 2011, for a more complete discussion of HBIO's 2011 revenue and non-GAAP adjusted earnings expectations, which continue to be the Company's expectations.
The link above is provided for the limited purpose of assisting investors with accessing the interview discussed above and HBIO is not responsible in any manner for any other information found at such link.
About Harvard Bioscience
Harvard Bioscience ("HBIO") is a global developer, manufacturer and marketer of a broad range of specialized products, primarily apparatus and scientific instruments, used to advance life science research and regenerative medicine. We sell our products to thousands of researchers in over 100 countries primarily through our 850 page catalog (and various other specialty catalogs), our website, through distributors, including GE Healthcare, Thermo Fisher Scientific and VWR, and via our field sales organization. HBIO has sales and manufacturing operations in the United States, the United Kingdom, Germany and Spain with additional facilities in France and Canada. For more information, please visit www.harvardbioscience.com.
The Harvard Bioscience, Inc. logo is available at
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of such words as "will," "guidance," "objectives," "optimistic," "potential," "future," "expect," "expects," plans," "estimates," "continue," "drive," "strategy," "crucial," "potential," "potentially," "growth," "long-term," "projects," "projected," "produce," "intends," "believes," "goals," "sees," "seek," "create," "develop," "possible," "new," "enabling," "emerging," "opportunity," "pursue" and similar expressions that do not relate to historical matters. Forward-looking statements in this press release may include, but are not limited to, statements or inferences about the Company's or management's beliefs or expectations, including with respect to the impact of the Company's acquisition and the future performance of the acquired business, the field of regenerative medicine, opportunities or potential opportunities in the field of regenerative medicine, the Company's business strategy, the positioning of the Company for growth, the market demand and opportunity for the Company's current products or products it is developing or intends to develop, and the Company's plans, objectives and intentions that are not historical facts.
These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause the Company's actual results to differ materially from those in the forward-looking statements include the existence and size of opportunities in the behavior research market, the Company's failure to successfully expand its product offerings, introduce new products or commercialize new technologies, including in the field of regenerative medicine, decreased demand for the Company's products, including products in the field of regenerative medicine, due to changes in our customers' needs, our ability to obtain regulatory approvals, including FDA approval, for our products, including any products in the field of regenerative medicine, the current size or anticipated size of the regenerative medicine market, the existence and size of opportunities in the regenerative medicine market, our financial position, general economic outlook or other circumstances, overall economic trends, our ability to manage our growth, competition from our competitors, technological changes resulting in our products becoming obsolete, our ability to protect our intellectual property and operate without infringing on others' intellectual property, potential costs of any lawsuits to protect or enforce our intellectual property, research funding levels from endowments at our university customers, plus factors described under the heading "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 or described in the Company's other public filings. The Company's results may also be affected by factors of which the Company is not currently aware. The Company may not update these forward-looking statements, even though its situation may change in the future, unless it has obligations under the federal securities laws to update and disclose material developments related to previously disclosed information.
CONTACT: Harvard Bioscience, Inc. David Green, President dgreen@harvardbioscience.com Chane Graziano, CEO cgraziano@harvardbioscience.com Tom McNaughton, CFO tmcnaughton@harvardbioscience.com Phone: 508 893 8999 Fax: 508 892 6135
