HARVARD BIOSCIENCE ACQUIRES BTX DIVISION OF GENETRONICS.

Harvard Bioscience, Inc. (Nasdaq NM: HBIO), has signed a definitive agreement with Genetronics Biomedical Corporation (GEB: AMEX and TSX) to purchase the non-cash assets of its BTX Division. The sale, which is subject to the approval of the stockholders of Genetronics and other customary conditions, is expected to close by the first week of February 2003. The terms of the sale are $3.7 million in cash, subject to certain adjustments, and a royalty on net sales of BTX products above certain sales targets. The BTX Division sells electroporation and electrofusion products to research laboratory markets worldwide. As part of the acquisition, Harvard Bioscience will acquire rights to the BTX Division's new product line for high throughput applications.

About Harvard Bioscience, Inc.

Harvard Bioscience is a developer, manufacturer and marketer of a broad range of specialized products, primarily scientific instruments, used to accelerate drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories worldwide. HBIO sells its products to thousands of researchers in 100 countries through its direct sales force, its 1,000 page catalog (and various other specialty catalogs), and through its distributors, including Amersham Biosciences and PerkinElmer. HBIO has sales and manufacturing operations in the United States, the United Kingdom, Germany, Austria and Belgium with sales facilities in Japan, France and Canada.

Harvard Bioscience can be found on the World Wide Web at http://www.harvardbioscience.com

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