Harvard Bioscience Announces Initial Order for Integrated Animal Behavior Monitoring System

Rhea-AI Summary

Harvard Bioscience (Nasdaq: HBIO) announced an initial order for its new high-capacity behavioral monitoring system aimed at pre-clinical applications. This order, from a large contract research organization (CRO), is set for delivery in Q4 2023. The company anticipates broader product launches in the second half of 2023, integrating its Panlab® technology with Ponemah™ pre-clinical data management software in a GLP-compliant solution.

Serge Savard, VP of Product Management, emphasized the high throughput and accuracy of the system for neuroscience assessments and drug screening. CEO Jim Green noted that this order reflects the company's commitment to advancing academic research while expanding their product line for larger customers. This development is positioned to enhance Harvard Bioscience's service offerings and market presence.

Positive

• Initial order for new high-capacity behavioral monitoring system indicates strong customer demand.
• Integration of Panlab® technology and Ponemah™ software enhances product offerings for CROs and pharma.
• Positioned for broader market launch in second half of 2023, potentially increasing revenue opportunities.

Negative

• None.

Designed to meet the pre-clinical testing needs of CROs, pharma and research laboratories

HOLLISTON, Mass., April 18, 2023 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq: HBIO) (the “Company”) today announced the initial order for the Company’s new high-capacity behavioral monitoring system for pre-clinical applications. This initial order, which was placed by one of the Company’s large contract research organization (CRO) customers, is scheduled for delivery in the fourth quarter of 2023. The Company expects that the new system, along with a full range of services and software offerings, will be launched more broadly in the second half of 2023.

The new system combines the Company’s high precision Panlab® activity monitoring technology with its industry leading Ponemah™ pre-clinical data management software to create an integrated good laboratory practice (GLP) compliant solution. The system is ideally suited to meet the high throughput, automated pre-clinical safety and pharmacology testing needs of CROs and pharma, in addition to longitudinal behavior studies carried out by leading research and academic institutes.

Serge Savard, Vice President of Product Management, said “Our new behavior monitoring system builds on the core strengths of our pre-clinical technologies to provide a groundbreaking, high throughput activity monitoring solution. It combines unparalleled real-time monitoring accuracy with the full functionality of our Ponemah™ pre-clinical data acquisition and analysis software in an integrated GLP-compliant package, providing an efficient platform for applications such as neuroscience assessment, phenotyping of genetically modified small animals, and drug screening. We are excited to see this strong customer response and to begin our broader product launch later this year.”

Jim Green, Chairman and CEO, said “Our new behavioral monitoring system and this initial order validate our ability to deliver advances in academic research while expanding our product line to include higher value content integrated offerings, including recurring services tailored to the needs of larger industrial customers such as CROs and pharma, as well as leading academic and government labs.”

For more information on the new system, or the Company’s full range of products and solutions, please contact Sales@datasci.com

About Harvard Bioscience

Harvard Bioscience, Inc. is a leading developer, manufacturer and seller of technologies, products and services that enable fundamental advances in life science applications, including research, pharmaceutical and therapy discovery, bio-production and preclinical testing for pharmaceutical and therapy development. Our customers range from renowned academic institutions and government laboratories to the world’s leading pharmaceutical, biotechnology and contract research organizations. With operations in North America, Europe, and China, we sell through a combination of direct and distribution channels to customers around the world.

For more information, please visit our website at www.harvardbioscience.com.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward looking statements may be identified by the use of words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions or statements that do not relate to historical matters. Forward-looking statements include, but are not limited to, information concerning expected future revenues, earnings, cash position, growth, operational performance, and the strength of the Company’s market position and business model. Forward-looking statements are not guarantees of future performance and involve known and unknown uncertainties, risks, assumptions, and contingencies, many of which are outside the Company's control. Risks and other factors that could cause the Company’s actual results to differ materially from those described its forward-looking statements include those described in the “Risk Factors” section of the Company’s most recently filed Annual Report on Form 10-K as well as in the Company’s other filings with the Securities and Exchange Commission. Forward-looking statements are based on the Company’s expectations and assumptions as of the date of this document. Except as required by law, the Company assumes no obligation to update forward-looking statements to reflect any change in expectations, even as new information becomes available.

Investor Inquiries:

Harvard Bioscience, Inc.
Investor Relations
(508) 893-3120
investors@harvardbioscience.com

FAQ

What is the initial order for Harvard Bioscience's new system?

Harvard Bioscience announced an initial order for its high-capacity behavioral monitoring system from a large CRO, scheduled for delivery in Q4 2023.

When will the new behavioral monitoring system be launched?

The broader launch of the new behavioral monitoring system is expected in the second half of 2023.

What technologies are integrated into the new behavioral monitoring system from Harvard Bioscience?

The system combines the Panlab® activity monitoring technology with Ponemah™ pre-clinical data management software.

How does the new system benefit pre-clinical applications?

The system is designed to meet high throughput, automated pre-clinical safety and pharmacology testing needs, benefiting CROs, pharma, and research institutions.