EXHIBIT 99.1

 

FOR IMMEDIATE RELEASE

CONTACTS:

David Green Investor Relations:
CEO Dian Griesel Int’l.
dgreen@hartregen.com  
  Cheryl Schneider
Tom McNaughton cschneider@dgicomm.com
CFO  
tmcnaughton@hartregen.com Public Relations:
  Susan Forman or Laura Radocaj
Tel: 774-233-7300 sforman@dgicomm.com
Fax: 774-233-7302 lradocaj@dgicomm.com

 

Harvard Apparatus Regenerative Technology Reports Fourth Quarter and Year Ended December 31, 2013 Operating Results

 

-Conference Call To Be Held At 11:00 AM ET Today-

 

Holliston, MA, March 7, 2014 /

- Harvard Apparatus Regenerative Technology, Inc. (Nasdaq: HART), a clinical stage biotechnology company developing regenerated organs for transplant, initially focused on the trachea, today reported unaudited financial results for the three months and year ended December 31, 2013.

 

David Green, President and CEO of Harvard Apparatus Regenerative Technology, or HART, commented, “The December quarter was a very exciting time for HART, as our company was spun-off from Harvard Bioscience on November 1st. We are certain that the spin-off has already been beneficial to our business and that of Harvard Bioscience, as well, and we expect that it will continue to benefit our shareholders.”

 

Mr. Green continued, “During the December quarter we continued to make good clinical progress when in December a fifth successful regenerated human trachea transplant surgery using both our synthetic scaffold and bioreactor was performed. In early 2014 we had our first pre-IND meeting with the FDA to help define our path toward clinical trials for our regenerated trachea. Additionally, we submitted an Orphan Biologics application to the FDA for our regenerated trachea, and we are working to gather additional information requested by the FDA in their review of our application. Further, we continue to work closely with researchers at many leading medical research institutions to help advance their research in regenerating other organs.”

 

Fourth Quarter Reported Results

 

During the fourth quarter of 2013 we recognized revenues of $22,000, comprised of the sale of research equipment to an end user working on organ regeneration. Prior to our spin-off from Harvard Bioscience on November 1, 2013, we did not record revenues on the sale of research systems. Also, we have not charged for our products used in human trachea transplant surgeries to date.

 


The following information was filed by Biostage, Inc. (BSTG) on Friday, March 7, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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