Holliston biotech closes public offering
Biotech firm Harvard Apparatus Regenerative Technology of Holliston has closed a previously announced public stock offering after raising about $8.6 million, the company announced this week.
Harvard (NASDAQ: HART), a spinoff of Harvard Bioscience, had offered 2.07 million registered shares of common stock at $1.75 a share and nearly 696,000 registered shares of preferred stock at $8.75 per share.
HART, which develops regenerated organs for transplants, initially focused on the trachea, said it intends to use most of the extra capital for research and development, including funding of pre-clinical and clinical trials relating to the HART-Trachea, as well as business development, sales and marketing, capital expenditures, working capital and other general corporate purposes.
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