Holliston-based Harvard Bioscience (HBIO) said it will delay an initial public offering of its subsidiary, Harvard Apparatus Regenerative Technology (HART), because of market conditions.
HBIO, which has a profitable core business making life sciences research tools, wants to separate the HART division, which is developing a stem cell-seeded, artificial trachea for organ transplants.
HART will continue to pursue clinical development milestones and HBIO said it will explore alternative options related to separating it from the core business.
HBIO’s fourth-quarter revenue, announced in late February, dipped 2.7 percent to $28.2 million, while profits climbed 63 percent to $1.2 million.
