March 31, 2016 7:43am
Harvard Apparatus Regenerative Medicine (HART) changes its name
Regeneration of our bodies’ own cells is the subject of Biostage ™ - the new corporate name and designation for therapies in treating patients suffering from esophageal, bronchial or tracheal trauma or disease.
Biostage ™ will trade on the NASDAQ as “BSTG” effective April 1.
For years, there’s been a lot of talk about the prospects of cell biology and its impact on regenerative medicine. Billions have and continue to be spent on finding just the right formula to allow the body to heal itself from debilitating and life-threatening disease progressions.
At Biostage™ the talk is over!
The name, Harvard Apparatus Regenerative Technology (HART) was truly a mouthful of words. Its previous focus needed an upgrade to recognize the newest avenues of cell therapy and their potential in which are now in-place!
The new name sends a clear signal of the transformation of a company from a bioreactor and research tools company to a pioneering biotechnology firm developing bioengineered organ implants for serious and life threatening conditions.
Biostage ™ will change the treatment paradigm for patients suffering from these life-threatening conditions which are underserved by current therapies. BSTG’s Cellframe technology utilizes a biocompatible scaffold that is seeded with the patient’s own cells to create a Cellspan implant that replaces diseased sections of the esophagus, trachea and bronchus.
Through detailed testing, animal studies and surgeries, Biostage’s team has completely re-engineer its technology platform while establishing partnerships with some of the most prestigious institutions in the field of regenerative medicine, which include the Mayo Clinic and Connecticut Children’s Hospital.
The Boston Globe newspaper has a good article … “Biostage Inc. is new name for organ implant company HART” - http://www.bostonglobe.com/business/2016/03/30/hart-rebranding-itself-biostage-reflect-focus-bioengineered-organs/qANAaEp51ubXXcywSapB8N/story.html
According to Jim McGorry, Biostage’s CEO, BSTG’s brand value is the result of a nearly two-year corporate transformation that centered on people, research, and technologies. “We put in place a streamlined, highly-experienced management team and board of directors to effectively lead our team of cell biology experts and organ transplant surgeons in solidifying a clearly-defined set of research, regulatory, and commercialization goals. BSTG also expanded its research partnership base to cost-effectively add technology resources critical to our success. Collectively, these efforts allow BSTG to pursue a new approach to regenerating organs for patients who deserve better clinical solutions and improved outcomes,” he said.
The company anticipates providing an update on its large-animal research collaboration with Mayo Clinic mid-second quarter 2016.
HART closed at $1.65 and was UP +6.45% or +$0.10 on Wenesday, 3/30/16 - BUY
About Biostage, Inc.: www.biostage.com
