Biostage loses product liability insurance coverage for wrongful death lawsuit; insurer files declaratory judgment

Harvard Apparatus Regenerative Technology, Inc.

On Sept 15, 2021, a product liability insurer denied coverage for the 2017 wrongful death suit and will stop defending after Sept 30, 2021.
Insurer filed a declaratory judgment complaint asking the court to rule no duty to defend, indemnify, or cover Biostage or Harvard Bioscience.
Company intends to vigorously defend the insurance coverage denial and the underlying case; previous sanctions were vacated on Aug 6, 2021.
If Biostage loses on merits and insurance does not cover, it may be forced to curtail or cease operations due to financial impact.

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