HBIO Announces Strategic Alliance With Nanoentek
HOLLISTON, Mass.--(BUSINESS WIRE)--March 23, 2007--Harvard Bioscience, Inc. (Nasdaq: HBIO), a global developer, manufacturer, and marketer of a broad range of tools to advance life science research, today announces a strategic alliance in co-marketing and co-development with Nanoentek (Kosdaq NM: 039860) . The terms of this agreement include exclusive distribution of Digital Bio's novel gene delivery system (product name: Microporator) in the U.S. market by BTX Harvard Apparatus, an HBIO business unit, and distribution of the BTX Harvard Apparatus Electroporation products in selected Asian countries by Digital Bio, a Nanoentek business.
Harvard Bioscience is one of the leading life science instrument companies in the U.S. established over 100 years ago in Harvard Medical School. The BTX Electroporation products, acquired from Genetronics in 2003, are market leaders in gene delivery. The collaboration of Nanoentek, the developer of a novel gene delivery system, and BTX Harvard Apparatus, the market leader in gene delivery products, goes beyond a co-marketing alliance. The two companies have agreed to explore joint development strategies for a next generation life science instrument encompassing microfluidics and nanotechnology. This joint development project and technical support will take place at the HBIO headquarters located in Holliston, Massachusetts in a specialized lab.
"We are pleased to have forged a strategic alliance with Digital-Bio. This alliance strengthens the distribution for our BTX products in selected Asian markets and provides us access to some exciting new technology gaining us entry into a $20 million market segment," said Chane Graziano, CEO of Harvard Bioscience.
Marcela Vera-Garcia, Director of the BTX Harvard Apparatus business unit, added, "the first Digital Bio product, the Microporator, which we will exclusively distribute in the U.S., uses a novel technique to introduce compounds into cells and takes electroporation to an entirely new level of performance."
Neon C. Jung, Chief Business Officer of Digital Bio, commented, "Partnering with a life science leader such as Harvard Bioscience is an important milestone in Nanoentek's growth. We are very pleased to introduce our novel gene delivery technology in the U.S. market with a leading gene delivery company."
To learn more about this exciting new technology or any of our BTX products visit us at www.BTXonline.com or call us at 1-800-272-2775.
About Harvard Bioscience
Harvard Bioscience is a global developer, manufacturer, and marketer of a broad range of specialized products, primarily scientific instruments and apparatus, used to advance life science research at pharmaceutical and biotechnology companies, universities and government laboratories worldwide. HBIO sells its products to thousands of researchers in over 100 countries, through its 1,100 page catalog (and various other specialty catalogs), its website and through its distributors, including GE Healthcare, Fisher Scientific and VWR. HBIO has sales and manufacturing operations in the United States, the United Kingdom, Germany, and Austria with additional facilities in France and Canada. For more information, please visit www.harvardbioscience.com.
For investor inquiries, please call (508) 893-8066. Press releases may be found on our web site, http://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 the words "guidance," "expects," "plans," "estimates," "projects," "intends," "believes" and similar expressions that do not relate to historical matters. Forward-looking statements in this press release include statements about the anticipated impact of the strategic alliance with Nanoentek on Harvard Bioscience's anticipated future revenues and earnings.
These statements involve known and unknown risks, uncertainties and other factors that may cause Harvard Bioscience'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 Harvard Bioscience's actual results to differ materially from those in the forward-looking statements include the Harvard Bioscience's failure to gain access to the selected Asian markets or technologies as anticipated, general economic outlook, or other circumstances, overall economic trends, economic, political and other risks associated with international revenues and operations, competition from Harvard Bioscience's competitors, technological changes and economic and political conditions generally and those affecting pharmaceutical and biotechnology industries, plus factors described under the heading "Item 1A. Risk Factors" in Harvard Bioscience's Annual Report on Form 10-K for the fiscal year ended December 31, 2006 or described in Harvard Bioscience's other public filings. Harvard Bioscience's results may also be affected by factors of which Harvard Bioscience is not currently aware. Harvard Bioscience 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.
Chane Graziano, CEO, 508-893-8066
cgraziano@harvardbioscience.com
SOURCE: Harvard Bioscience, Inc.
Disclaimer:
The information contained within this and other Harvard Bioscience Web pages should be deemed accurate and current as of the date of the most recent update, or if no update information has been provided, the date of issuance. Harvard Bioscience assumes no responsibility for any misincurrances or misstatements which occur as the result of the reading of dated material. Users are strongly encouraged to check dates of issuance and most recent update of any information contained within, or linked to, Harvard Bioscience’s web site. For Harvard Bioscience’s most current information please reference Harvard Bioscience public filings with the Securities and Exchange Commission located at http://www.sec.gov.