Harvard Bioscience Comments on Regenerated Trachea Recipient Hannah Genevieve Warren's Passing

Harvard Bioscience, Inc. Logo

HOLLISTON, Mass., July 8, 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, commented on the July 6 passing of two-year-old Hannah Genevieve Warren, who, born without a trachea, received the first transplant of a regenerated trachea in the United States this past April. She has died from unrelated complications.

Hannah's initial surgery involved a trachea transplant that utilized the "InBreath" tracheal scaffold and bioreactor system manufactured by Harvard Apparatus Regenerative Technology, Inc. (HART), Harvard Bioscience's wholly owned regenerative medicine technology subsidiary.

Approximately two months after the initial trachea transplant surgery, Hannah underwent surgery to correct her esophagus, which never properly healed following the initial surgery. Hannah died from complications arising from this subsequent operation.

David Green, President and CEO of Harvard Bioscience, commented: "We are greatly saddened by the news of Hannah's passing and offer our most heartfelt condolences to her family and supporters. Hannah was a brave little girl who was a pioneer in the field of regenerative medicine. As we continue to advance our programs in regenerative medicine, she will serve as an inspiration as we seek to save the lives of other patients in need of replacement organs."

Dr. Paolo Macchiarini of Karolinska University Hospital and Karolinska Institutet in Huddinge, Stockholm, who led the team performing the trachea surgery, noted that the implanted trachea was not the cause of Hannah's death, pointing out that the girl's native tissue was very fragile. He said he would continue with similar operations.

A statement released by Hannah's family said, "Born without a trachea, she gave us over 34 months of ever-lasting memories. We are humbled and blessed. She is a pioneer in stem-cell technology and her impact will reach all corners of our beautiful Earth. Her new trachea was performing well, but her lungs went from fairly good, to weak, to poor."

A statement released by the Children's Hospital of Illinois noted that "while regenerative medicine remains in the early stages for pediatric patients, insights from Hannah's surgery will benefit and serve other children and adults in the years to come."

Until this year Hannah had spent her life in a newborn intensive care unit in a Korean hospital, breathing through a tube inserted in her mouth. The April surgery had been approved by the U.S. Food and Drug Administration under rules that allow experimental procedures when the patient otherwise has little hope of survival.

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. Our products are sold 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, Sweden and Spain with additional facilities in France and Canada. For more information, please visit www.harvardbioscience.com.

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," "expects," "plans," "estimates," "continue," "drive," "strategy," "potential," "potentially," "growth," "long-term," "projects," "projected," "intends," "believes," "goals," "sees," "seek," "develop" "possible" "new," "emerging," "opportunity," "pursue" and similar expressions that do not relate to historical matters. Forward-looking statements in this press release or that may be made during our conference call may include, but are not limited to, statements or inferences about the Company's or management's beliefs or expectations, the Company's anticipated future revenues and earnings, the strength of the Company's market position and business model, the impact of acquisitions, or potential acquisitions, the outlook for the life sciences industry and 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 Company's failure to identify potential acquisition candidates, successfully negotiate favorable pricing and other terms with acquisition candidates to enable potential acquisitions to close, successfully integrate acquired businesses or technologies, complete consolidations of business functions, expand our product offerings, introduce new products or commercialize new technologies, including in the field of regenerative medicine, unanticipated costs relating to acquisitions, unanticipated costs arising in connection with the Company's consolidation of business functions and any restructuring initiatives, decreased demand for the Company's products 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, the seasonal nature of purchasing in Europe, economic, political and other risks associated with international revenues and operations, the impact of the current economic and financial crisis, additional costs of complying with recent changes in regulatory rules applicable to public companies, our ability to manage our growth, our ability to retain key personnel, competition from our competitors, technological changes resulting in our products becoming obsolete, future changes to the operations or the activities of our subsidiaries due to manufacturing consolidations, our ability to meet the financial covenants contained in our credit facility, 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, economic and political conditions generally and those affecting pharmaceutical and biotechnology industries, research funding levels from endowments at our university customers, impact of any impairment of our goodwill or intangible assets, our ability to utilize deferred tax assets after the release of our valuation allowances, our acquisition of Genomic Solutions failing to qualify as a tax-free reorganization for federal tax purposes, the amount of earn-out consideration that the Company receives in connection with the disposition of the Company's Capital Equipment Business segment and factors that may impact the receipt of this consideration, such as the revenues of the businesses disposed of, 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, 2012 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.

For investor inquiries, please call (508) 893-8066. Press releases may be found on our web site, http://www.harvardbioscience.com.

The Harvard Bioscience, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6426

CONTACT: David Green President and CEO dgreen@harvardbioscience.com Tel: 508 893 8999 Tom McNaughton CFO tmcnaughton@harvardbioscience.com

Source:Harvard Bioscience, Inc.