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Mass. Movers

Harvard Bioscience will spin off subsidiary

Harvard Bioscience aims to raise $20 million in an IPO.

istockphoto.com

Harvard Bioscience aims to raise $20 million in an IPO.

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Harvard Bioscience Inc. said it will spin off its regenerative medicine device business through an IPO next year. The Holliston company will seek to raise $20 million by taking public its subsidiary, Harvard Apparatus Regenerative Technology, which is developing parts for “bioartificial” organs such as replacement tracheas. CEO Chane Graziano said it has become too complicated to manage the research tool business and clinical-stage regenerative device unit together.

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