<SEC-DOCUMENT>0001171843-18-003185.txt : 20180430
<SEC-HEADER>0001171843-18-003185.hdr.sgml : 20180430
<ACCEPTANCE-DATETIME>20180430160659
ACCESSION NUMBER:		0001171843-18-003185
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20180430
DATE AS OF CHANGE:		20180430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HARVARD BIOSCIENCE INC
		CENTRAL INDEX KEY:			0001123494
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				043306140
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-224535
		FILM NUMBER:		18789705

	BUSINESS ADDRESS:	
		STREET 1:		84 OCTOBER HILL RD
		CITY:			HOLLISTON
		STATE:			MA
		ZIP:			01746
		BUSINESS PHONE:		5088938999

	MAIL ADDRESS:	
		STREET 1:		84 OCTOBER HILL ROAD
		CITY:			HOLLISTON
		STATE:			MA
		ZIP:			01746
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>s3_043018.htm
<DESCRIPTION>FORM S-3
<TEXT>
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>As filed with the Securities and Exchange Commission on April
30, 2018</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Registration No.&nbsp;333-_________ </B></P>

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION
</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font-size: 18pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>FORM&nbsp;S-3</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>REGISTRATION STATEMENT</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><I>UNDER</I></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><I>THE SECURITIES ACT OF 1933 </I></B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>HARVARD BIOSCIENCE, INC.</B></FONT><B>
</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Exact name of registrant as specified in its charter) </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: top; width: 51%; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 48%; text-align: center"><FONT STYLE="font-size: 10pt"><B>04-3306140</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(State or other jurisdiction of</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>(I.R.S. Employer</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>incorporation or organization)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt"><B>Identification Number)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>84 October Hill Road, Holliston, Massachusetts 01746-1371</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(508) 893-8999</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>(Address, including zip code, and telephone number, including
area code, of registrant&rsquo;s principal executive offices) </B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Jeffrey A. Duchemin<BR>
Chief Executive Officer<BR>
Harvard Bioscience, Inc.<BR>
84 October Hill Road, Holliston, Massachusetts 01746-1371<BR>
(508) 893-8999</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0.5in; margin: 0pt 0"><B>(Name, address, including zip code, and telephone
number, including area code, of agent for service) </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><I>With copies to: </I></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Chad J. Porter, Esq.<BR>
Burns &amp; Levinson LLP<BR>
125 Summer Street<BR>
Boston, MA 02110<BR>
(617) 345-3000</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin: 0pt 0">Approximate date of commencement of proposed sale to the public: <B>From time to time
after the effective date hereof.</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If the only securities being registered on this form are being offered pursuant to dividend
or interest reinvestment plans, please check the following box.&nbsp;&nbsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If any of the securities being registered on this Form&nbsp;are to be offered on a delayed
or continuous basis pursuant to Rule&nbsp;415 under the Securities Act of 1933, as amended, other than securities offered only
in connection with dividend or interest reinvestment plans, check the following box:&nbsp;&nbsp;&#9746;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this form is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b)&nbsp;under
the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective
registration statement for the same offering.&nbsp;&nbsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this form is a post-effective amendment filed pursuant to Rule&nbsp;462(c)&nbsp;under
the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective
registration statement for the same offering.&nbsp;&nbsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this Form&nbsp;is a registration statement pursuant to General Instruction I.D. or
a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule&nbsp;462(e)&nbsp;under
the Securities Act, check the following box.&nbsp;&nbsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If this Form&nbsp;is a post-effective amendment to a registration statement filed pursuant
to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule&nbsp;413(b)&nbsp;under
the Securities Act, check the following box.&nbsp;&nbsp;&#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer or a smaller reporting company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated
filer,&rdquo; &ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange
Act. (Check one):</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%"><FONT STYLE="font-size: 10pt">Large&nbsp;accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 48%">&#9744;</TD>
    <TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt">Accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 2%">&#9746;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD>&#9744;<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;(Do not check if a smaller reporting company)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
    <TD>&#9744;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Emerging growth company</FONT></TD>
    <TD>&#9744;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant has elected not
to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 7(a)(2)(B) of the Securities Act . &#9744;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CALCULATION OF REGISTRATION FEE </B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title&nbsp;of&nbsp;Each&nbsp;Class&nbsp;of </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Securities&nbsp;to&nbsp;be&nbsp;Registered</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>to&nbsp;be </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Registered&nbsp;(1)</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Maximum </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Offering&nbsp;Price </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Per&nbsp;Unit&nbsp;(2)</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Maximum </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Aggregate </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Offering&nbsp;Price&nbsp;(3)</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount&nbsp;of </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Registration&nbsp;Fee&nbsp;(4)</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 32%"><FONT STYLE="font-size: 10pt">Common Stock (5)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 17%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Preferred Stock (6)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Warrants (7)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Units (8)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">N.A.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">415</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The amount to be registered consists of up to $50,000,000 of an indeterminate amount of common stock, preferred stock, warrants and/or units. There is also being registered hereunder such currently indeterminate number of (i)&nbsp;shares of common stock or other securities of the registrant as may be issued upon conversion of, or in exchange for, preferred stock registered hereby, or (ii)&nbsp;shares of preferred stock, common stock or units as may be issued upon exercise of warrants registered hereby, as the case may be. Any securities registered hereunder may be sold separately or as units with the other securities registered hereunder.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.3in; margin: 0pt 0 0pt 0.3in">&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The proposed maximum aggregate offering price per unit will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder and is not specified as to each class of security pursuant to General Instruction II.D. of Form&nbsp;S-3 under the Securities Act.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.3in; margin: 0pt 0 0pt 0.3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Estimated solely for purposes of computing the registration fee. No separate consideration will be received for (i)&nbsp;common stock or other securities of the registrant that may be issued upon conversion of, or in exchange for, preferred stock registered hereby, or (ii)&nbsp;preferred stock, common stock or units that may be issued upon exercise of warrants registered hereby, as the case may be.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.3in; margin: 0pt 0 0pt 0.3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The registration fee has been calculated in accordance with Rule&nbsp;457(o)&nbsp;under the Securities Act.&nbsp;&nbsp;As discussed below, pursuant to Rule 415(a)(6) under the Securities Act, this Registration Statement includes a total of $50,000,000 of unsold securities that had been previously registered and for which the registration fee had been previously paid. Accordingly, the amount of the registration fee that remains payable at the time of filing is $415, because the registrant paid a total registration fee of $5,810 for such unsold securities, which fee will continue to be applied to such unsold securities.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.3in; margin: 0pt 0 0pt 0.3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Including such indeterminate amount of common stock as may be issued from time to time at indeterminate prices or upon conversion of preferred stock registered hereby, or upon exercise of warrants registered hereby, as the case may be.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.3in; margin: 0pt 0 0pt 0.3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Including such indeterminate amount of preferred stock as may be issued from time to time at indeterminate prices or upon conversion of preferred stock registered hereby, or upon exercise of warrants registered hereby, as the case may be.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.3in; margin: 0pt 0 0pt 0.3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Including such indeterminate number of warrants or other rights, including without limitation share purchase or subscription rights, as may be issued from time to time at indeterminate prices.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.3in; margin: 0pt 0 0pt 0.3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">(8)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Each unit will be issued under a unit agreement and will represent an interest in two or more securities, which may or may not be separable from one another.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Pursuant to Rule 415(a)(6) under the Securities Act, the securities registered pursuant
to this Registration Statement include unsold securities consisting of $50,000,000 of unsold common stock, preferred stock, warrants
and units of Harvard Bioscience, Inc. that had been previously registered on the Registration Statement of Harvard Bioscience,
Inc. on Form S-3 (Registration No.&nbsp;333-203552), which we refer to as the &ldquo;Prior Registration Statement&rdquo;. The registration
fees with respect to such securities, totaling $5,810, were previously paid in connection with the filing of the Prior Registration
Statement and will continue to be applied to such unsold securities. Pursuant to Rule 415(a)(6), the offerings of the unsold securities
registered under the Prior Registration Statement will be deemed terminated as of the date of effectiveness of this Registration
Statement. If the registrant sells any of such unsold securities pursuant to the Prior Registration Statement after the date of
this filing, and prior to the date of effectiveness of this registration statement, the registrant will file a pre-effective amendment
to this registration statement which will reduce the number of such unsold securities included on this registration statement and
increase the additional securities registered hereon so that the total amount of securities registered hereon will equal $50,000,000,
as reflected in footnote 1 to the table above, and will pay the additional registration fee resulting therefrom.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES AS
MAY&nbsp;BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES
THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION&nbsp;8(a)&nbsp;OF THE SECURITIES
ACT OF 1933, AS AMENDED, OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE COMMISSION ACTING PURSUANT
TO SAID SECTION&nbsp;8(a), MAY&nbsp;DETERMINE. </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #DE1A1E">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #DE1A1E">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #DE1A1E">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #DE1A1E"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #DE1A1E"></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: #DE1A1E"><B>SUBJECT TO COMPLETION, DATED APRIL 30, 2018</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; color: #DE1A1E"><B>The information in this preliminary prospectus is not complete and
may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission
is effective. This preliminary prospectus is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction
where the offer or sale is not permitted. </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>PROSPECTUS</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>$50,000,000</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: Red"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>HARVARD BIOSCIENCE, INC. </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Common Stock </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Preferred Stock </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Warrants </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Units </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may from time to time issue, in one or more series or classes, up to $50,000,000 in
aggregate principal amount of our common stock, preferred stock, warrants and/or units. We may offer these securities separately
or together in units. We will specify in the accompanying prospectus supplement the terms of the securities being offered. We may
sell these securities to or through underwriters and also to other purchasers or through agents. We will set forth the names of
any underwriters or agents, and any fees, conversions, or discount arrangements, in the accompanying prospectus supplement. We
may not sell any securities under this prospectus without delivery of the applicable prospectus supplement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">You should read this document and any prospectus supplement or amendment carefully before
you invest in our securities.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our common stock is listed on the NASDAQ Global Market under the symbol &ldquo;HBIO.&rdquo;
On April 25, 2018, the closing price for our common stock, as reported on the NASDAQ Global Market, was $5.80 per share.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Investing in our securities involves a high degree of risk. You should review
carefully the risks and uncertainties described under the heading &ldquo;Risk Factors&rdquo; contained in this prospectus
beginning on page 7 and any applicable prospectus supplement, and under similar headings in the other documents that are
incorporated by reference into this prospectus. </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION
HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE, TRUTHFUL OR COMPLETE. ANY REPRESENTATION
TO THE CONTRARY IS A CRIMINAL OFFENSE. </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>The date of this Prospectus is&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2018. </B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>TABLE OF CONTENTS </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="width: 93%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 7%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Page</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_002"><FONT STYLE="font-size: 10pt">ABOUT THIS PROSPECTUS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_002">1</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_003"><FONT STYLE="font-size: 10pt">PROSPECTUS SUMMARY</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_003">3</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_004"><FONT STYLE="font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_004">7</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_005"><FONT STYLE="font-size: 10pt">NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_005">7</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_006"><FONT STYLE="font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_006">8</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_007"><FONT STYLE="font-size: 10pt">PLAN OF DISTRIBUTION</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_007">9</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_008"><FONT STYLE="font-size: 10pt">SECURITIES WE MAY&nbsp;OFFER</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_008">11</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><A HREF="#a_009"><FONT STYLE="font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_009">20</A></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_010"><FONT STYLE="font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_010">20</A></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_011">INDEPENDENT AUDITORS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_011">20</A></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_012"><FONT STYLE="font-size: 10pt">WHERE YOU CAN FIND MORE INFORMATION</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_012">20</A></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_013"><FONT STYLE="font-size: 10pt">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><A HREF="#a_013">21</A></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_002"></A>ABOUT THIS PROSPECTUS </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">This prospectus is part of a registration statement that we filed with the Securities
and Exchange Commission, or the SEC, utilizing a shelf registration process. Under the shelf registration process, we may offer
shares of our common stock and preferred stock, warrants to purchase any of such securities, and units comprised of any such securities
with a total value of up to $50,000,000 from time to time under this prospectus at prices and on terms to be determined by market
conditions at the time of offering. This prospectus provides you with a general description of the securities we may offer. Each
time we offer a type or series of securities, we will provide a prospectus supplement that will describe the specific amounts,
prices and other important terms of the securities, including, to the extent applicable:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">designation or classification;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">aggregate offering price;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">rates and times of payment of dividends or other payments, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">redemption, conversion, exchange, settlement or sinking fund terms, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">conversion, exchange or settlement prices or rates, if any, and, if applicable, any provisions for changes to or adjustments in the conversion, exchange or settlement prices or rates and in the securities or other property receivable upon conversion, exchange or settlement;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">ranking;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">restrictive covenants, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">voting or other rights, if any; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">important federal income tax considerations.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">A prospectus supplement may include a discussion of risks or other special considerations
applicable to us or the offered securities. A prospectus supplement may also add, update or change information in this prospectus.
If there is any inconsistency between the information in this prospectus and any applicable prospectus supplement, you must rely
on the information in the prospectus supplement. Please carefully read both this prospectus and any applicable prospectus supplement
together with the additional information described under the heading &ldquo;Where You Can Find More Information.&rdquo;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The registration statement containing this prospectus, including exhibits to the registration
statement, provides additional information about us and the securities offered under this prospectus. The registration statement
can be read at the SEC&rsquo;s website (<I>www.sec.gov</I>) or at the SEC&rsquo;s Public Reference Room&nbsp;mentioned under the
heading &ldquo;Where You Can Find More Information.&rdquo;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We have not authorized any broker-dealer, salesperson or other person to give any information
or to make any representation other than those contained or incorporated by reference in this prospectus and an accompanying supplement
to this prospectus. You must not rely upon any information or representation not contained or incorporated by reference in this
prospectus or an accompanying prospectus supplement. This prospectus and an accompanying supplement to this prospectus do not constitute
an offer to sell or the solicitation of an offer to buy securities, nor do this prospectus and an accompanying supplement to this
prospectus constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction to any person to whom
it is unlawful to make such offer or solicitation. The information contained in this prospectus and an accompanying prospectus
supplement speaks only as of the date set forth on the applicable cover page&nbsp;and may not reflect subsequent changes in our
business, financial condition, results of operations and prospects even though this prospectus and any accompanying prospectus
supplement is delivered or securities are sold on a later date.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may sell the securities directly to or through underwriters, dealers or agents. We,
and our underwriters or agents, reserve the right to accept or reject all or part of any proposed purchase of securities. If we
do offer securities through underwriters, dealers or agents, we will include in any applicable prospectus supplement:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the names of those underwriters, dealers or agents;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">applicable fees, discounts, and commissions to be paid to them;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">details regarding over-allotment options, if any; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the net proceeds to us.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid"><B><A NAME="a_003"></A>PROSPECTUS SUMMARY </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><I>The following summary highlights information contained elsewhere in this prospectus.
It may not contain all of the information that is important to you. You should read the entire prospectus carefully, especially
the discussion regarding the risks of investing in our securities under the heading &ldquo;Risk Factors,&rdquo; before investing
in our securities. All references to &ldquo;Company&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;us&rdquo; refer solely
to Harvard Bioscience, Inc. and its subsidiaries and not to the persons who manage us or sit on our Board of Directors (the &ldquo;Board&rdquo;).
</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>About Harvard Bioscience</B></P>

<P STYLE="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Harvard Bioscience, Inc., a Delaware corporation, is a global developer, manufacturer
and marketer of a broad range of scientific instruments and systems used to advance life science for basic research, drug discovery,
clinical and environmental testing. Our products are sold to thousands of researchers in over 100 countries through our global
sales organization, websites, catalogs, and through distributors including Thermo Fisher Scientific Inc., VWR and other specialized
distributors. We have sales and manufacturing operations in the United States, the United Kingdom, Germany, Sweden, Spain, France,
Canada, and China.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>Our History </B></P>

<P STYLE="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Our business began in 1901 under the name Harvard Apparatus. It was founded by Dr. William
T. Porter, a Professor of Physiology at Harvard Medical School and a pioneer of physiology education. We have grown over the years
with the development and evolution of modern life science research and education. Our early inventions included ventilators based
on Dr. Porter&rsquo;s design, the mechanical syringe pump for drug infusion in the 1950s, and the microprocessor controlled syringe
pump in the 1980s.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">In March&nbsp;of 1996, a group of investors acquired a majority of the then existing
business of our predecessor, Harvard Apparatus, Inc. Following this acquisition, our focus was redirected to acquiring complimentary
companies with innovative technologies while continuing to grow the existing business through internal product development. Since
1996, we have completed more than 26 business or product line acquisitions related to our continuing operations. We have also developed
many new product lines including: new generation Harvard Apparatus syringe pumps, PHD Ultra series of syringe pumps, advanced Inspira
ventilators, GeneQuant DNA/RNA/protein calculators, UVM plate readers, BTX Gemini X2 multi-waveform electroporation system, BioDrop
micro-volume spectrophotometer and cuvette, OxyletPro metabolic monitoring system, Multi-Channel Systems&rsquo; automated four
channel PatchServer, DP-304A amplifiers, Allegro Peristaltic pump systems, Centrifan small-volume evaporators and advanced VentElite
ventilators.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Led by President and CEO Jeffrey A. Duchemin, we have conducted a multi-year restructuring
program to reduce costs, align global functions, consolidate facilities to optimize our global footprint, divest non-core businesses
and to reinvest in key areas such as sales and common IT systems. As part of these efforts, we divested our AHN Biotechnologie
GmbH subsidiary (AHN) in the fourth quarter of 2016 and, during the first quarter of 2018, we sold substantially all the assets
of our wholly-owned subsidiary, Denville Scientific, Inc. (Denville). For additional information regarding the Denville disposition,
including the related pro forma financial information, please review our Current Report on Form 8-K filed with the SEC on January
26, 2018.</P>

<P STYLE="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">We are also pursuing a strategy to grow the business through strategic, accretive acquisitions,
including four acquisitions since the fourth quarter of 2014.</P>

<P STYLE="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; background-color: white; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Most recently, in January 2018, we acquired Data Sciences International,
Inc. (DSI) for approximately $70.0 million. DSI, a St. Paul, Minnesota-based life science research company, is a recognized leader
in physiologic monitoring focused on delivering preclinical products, systems, services and solutions to its customers. Its customers
include pharmaceutical and biotechnology companies, as well as contract research organizations, academic labs and government researchers.
This acquisition diversifies our customer base into the biopharmaceutical and contract research organization markets and offers
revenue and cost synergies. For additional information regarding the DSI acquisition, including the related financial information,
please review our Current Reports on Form 8-K filed with the SEC on January 26, 2018 and on February 2, 2018, as amended by Form
8-K/A filed with the SEC on April 17, 2018.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>Our Strategy </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Our vision is to be a world leading life science company that excels in meeting the needs
of our customers by providing a wide breath of innovative products and solutions, while providing exemplary customer service. Our
business strategy is to grow our top-line and bottom-line, and build shareholder value through a commitment to:</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33px; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font-size: 10pt">commercial excellence;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -16.05pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33px; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font-size: 10pt">new product development;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33px; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font-size: 10pt">strategic acquisitions; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33px; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid"><FONT STYLE="font-size: 10pt">operational efficiencies.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>Our Products </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Our broad core product range is organized into three commercial product families: Physiology,
Cell, Molecular Instruments (PCMI), Electrophysiology (Ephys), and Data Sciences. We primarily sell our products under brand names,
including Harvard Apparatus, Data Sciences International, KD Scientific, Hoefer, Biochrom, BTX, Warner Instruments, MCS, HEKA,
Hugo Sachs Elektronik, Panlab, Coulbourn Instruments, TBSI, and CMA Microdialysis.</P>

<P STYLE="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Our products consist of instruments, consumables, and systems that are made up of several
individual products. Sales prices of these products are mostly priced in the range of $5,000 to $15,000, but range from under $100
to over $100,000. We manufacture our products at our locations in the United States, Germany, Sweden and Spain.</P>

<P STYLE="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">In addition to our proprietary manufactured products, we sell many products that are
made by other manufacturers. These distributed products accounted for approximately 36% of our revenues for the year ended December
31, 2017. Distributed products enable us to provide our customers with a single source for their research needs, and consist of
a large variety of devices, instruments and consumable items used in experiments involving fluid handling, molecular and cell biology,
tissue, organ and animal research. Many of our proprietary manufactured products are leaders in their fields; however, researchers
often need complementary products in order to conduct particular experiments.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">Additional information regarding our products and our business is contained in the documents
incorporated by reference in this prospectus. See &ldquo;Where You Can Find More Information&rdquo; on page [&#9679;] of this prospectus.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>Corporate Information </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">We were incorporated under the laws of the State of Delaware on September 8, 2000. Our
principal executive offices are located at 84 October Hill Road, Holliston, Massachusetts. Our telephone number is (508) 893-8999.
We maintain a web site at <I>http://www.harvardbioscience.com</I>. The reference to our web site is intended to be an inactive
textual reference only. The information contained on, or that can be accessed through, our web site is not a part of this information
statement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&ldquo;Harvard&rdquo; is a registered trademark of Harvard University. The marks &ldquo;Harvard
Apparatus&rdquo; and &ldquo;Harvard Bioscience&rdquo; are being used pursuant to a license agreement entered into in December 2002
between us and Harvard University.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>Common Stock </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">As discussed below under the heading &ldquo;Securities We May&nbsp;Offer,&rdquo; we may
issue shares of our common stock from time to time. Holders of our common stock are entitled to one vote for each share held of
record on all matters submitted to a vote of shareholders; provided that Holders of common stock are not entitled to vote on any
amendment to our Second Amended and Restated Certificate of Incorporation, or our &ldquo;Charter&rdquo;, that changes the powers,
preferences, rights or other terms of one or more series of undesignated preferred stock if the holders of the affected series
are entitled to vote, separately or together, with the holders of one or more other such series, on such amendment pursuant to
the Charter or Delaware General Corporation Law. Our Board currently has eight (8)&nbsp;members. Our Charter provides that the
number of directors shall be fixed from time to time by resolution adopted by the vote of the Board. Our Charter provides that
our Board shall be divided into three classes, each consisting as nearly as reasonably may be possible of one-third of the total
number of directors constituting the entire Board, with each class&rsquo;s term expiring on a staggered basis. Newly-created directorships
and vacancies on our Board may only be filled by a majority of the members of the incumbent board then in office, though less than
a quorum, and not by our stockholders. Directors may be removed from office only for cause by the affirmative vote of the holders
of at least seventy-five percent (75%) of the outstanding shares entitled to be cast on the election of directors by the then-outstanding
shares of all classes and series of capital stock, voting together as a single class. Holders of common stock have no preemptive,
redemption or conversion rights and are not subject to future calls or assessments. No sinking fund provisions apply to our common
stock. All outstanding shares are fully-paid and non-assessable. In the event of any liquidation, dissolution or winding up of
our company, after the satisfaction in full of the liquidation preferences of holders of any preferred stock, holders of common
stock are entitled to ratable distribution of the remaining assets available for distribution to stockholders. Holders of common
stock are entitled to receive proportionately any such dividends declared by our Board, out of legally available funds for dividends,
subject to any preferences that may be applicable to any shares of preferred stock that may be outstanding at that time.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>Preferred Stock </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">As discussed below under the heading &ldquo;Securities We May Offer,&rdquo; we may issue
shares of our preferred stock from time to time, in one or more series. Under our Charter, our Board has the authority to issue,
without further action by our stockholders, up to 5,000,000 shares of undesignated preferred stock in one or more series and to
fix the designations, powers, preferences and the relative, participating, optional or other special rights of the shares of each
series and any qualification, limitations and restrictions thereon, any or all of which may be greater than the rights of our common
stock.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">If we issue preferred stock, we will fix the designations, powers, preferences and the
relative, participating, optional or other special rights, and any qualification, limitations and restrictions of the shares of
each series that we sell under this prospectus and applicable prospectus supplements in the certificate of designations relating
to that series. If we issue preferred stock, we will incorporate by reference into the registration statement of which this prospectus
is a part the form of any certificate of designations that describes the terms of such series of preferred stock before the issuance
thereof. We urge you to read any prospectus supplement related to any series of preferred stock we may offer, as well as the complete
certificate of designations that contains the terms of the applicable series of preferred stock.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid"><B>Warrants </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">As discussed below under the heading &ldquo;Securities We May&nbsp;Offer,&rdquo; we may
issue warrants for the purchase of common stock, preferred stock and/or units (as described below) in one or more series, from
time to time. We may issue warrants independently or together with common stock and/or preferred stock, and the warrants may be
attached to or separate from those securities.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">If we issue warrants, they will be evidenced by warrant agreements or warrant certificates
issued under one or more warrant agreements, which are contracts between us and an agent for the holders of the warrants. We urge
you to read any prospectus supplement related to any series of warrants we may offer, as well as the complete warrant agreement
and warrant certificate that contain the terms of the warrants. If we issue warrants, forms of warrant agreements and warrant certificates
relating to such warrants will be incorporated by reference into the registration statement of which this prospectus is a part
from other filings we would make with the SEC.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; padding-right: 10pt; padding-left: 10pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt"><B>Units </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">As discussed below under the heading &ldquo;Securities We May&nbsp;Offer,&rdquo; we may
issue units comprised of shares of common stock, shares of preferred stock and warrants in any combination. We may issue units
in such amounts and in as many distinct series as we wish.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">If we issue units, they will be issued under one or more unit agreements to be entered
into between us and a bank or other financial institution, as unit agent. We urge you to read any prospectus supplement related
to any series of units we may offer, as well as the complete unit agreement and unit certificate that contain the terms of the
units. If we issue units, forms of unit agreements and unit certificates relating to such units will be incorporated by reference
into the registration statement of which this prospectus is a part from other filings we would make with the SEC.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 10pt; padding-left: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_004"></A>RISK FACTORS</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Investing in our securities involves a high degree of risk. You should carefully consider
the risks described herein and in the documents incorporated by reference in this prospectus and any prospectus supplement, as
well as other information we include or incorporate by reference into this prospectus and any applicable prospectus supplement,
before making an investment decision. Our business, financial condition or results of operations could be materially adversely
affected by the materialization of any of these risks. The trading price of our securities could decline due to the materialization
of any of these risks, and you may lose all or part of your investment. This prospectus and the documents incorporated herein by
reference also contain forward-looking statements that involve risks and uncertainties. Actual results could differ materially
from those anticipated in these forward-looking statements as a result of certain factors, including the risks described herein
and in the documents incorporated herein by reference, including (i)&nbsp;our most recent annual report on Form&nbsp;10-K which
is on file with the SEC and is incorporated herein by reference and (ii)&nbsp;other documents we file with the SEC that are deemed
incorporated by reference into this prospectus.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_005"></A><B>NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">This prospectus contains, and the documents incorporated by reference herein include,
&ldquo;forward-looking statements&rdquo; within the meaning of Section&nbsp;27A of the Securities Act of 1933, as amended (the
&ldquo;Securities Act&rdquo;) and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;).
These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties
and other factors which may cause our actual results, performance or achievements to be materially different from any future results,
performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements include, but are
not limited to, statements about management&rsquo;s confidence or expectations, our business strategy, our ability to raise capital
or borrow funds to consummate acquisitions and the availability of attractive acquisition candidates, our expectations regarding
future costs of product revenues, our anticipated compliance with the covenants contained in our credit facility, the adequacy
of our financial resources and our plans, objectives, expectations and intentions that are not historical facts.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In some cases, you can identify forward-looking statement by terms such as &ldquo;believe,&rdquo;
&ldquo;may,&rdquo; &ldquo;estimate,&rdquo; &ldquo;continue,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo; &ldquo;should,&rdquo;
&ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;target,&rdquo; &ldquo;seek,&rdquo; &ldquo;aim,&rdquo; &ldquo;believe,&rdquo; &ldquo;predicts,&rdquo;
&ldquo;think,&rdquo; &ldquo;objectives,&rdquo; &ldquo;optimistic,&rdquo; &ldquo;new,&rdquo; &ldquo;goal,&rdquo; &ldquo;strategy,&rdquo;
&ldquo;potential,&rdquo; &ldquo;is likely,&rdquo; &ldquo;will,&rdquo; &ldquo;expect,&rdquo; &ldquo;plan&rdquo; &ldquo;project,&rdquo;
&ldquo;permit&rdquo; and similar expressions intended to identify forward-looking statements. These statements reflect our current
views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given these uncertainties,
you should not place undue reliance on these forward-looking statements. We discuss many of these risks in greater detail under
the heading &ldquo;Risk Factors&rdquo; in our SEC filings, and under the caption &ldquo;Risk Factors&rdquo; in this prospectus.
Also, these forward-looking statements represent our estimates and assumptions only as of the date of the document containing the
applicable statement. You should read this prospectus, the registration statement of which this prospectus is a part, and the exhibits
and documents incorporated by reference herein and therein completely and with the understanding that our actual future results
may be materially different from those described in forward-looking statements. We qualify all of the forward-looking statements
in the foregoing documents by these cautionary statements.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">You should assume that information contained in or incorporated by reference into this
prospectus is accurate only as of the date on the front cover of this prospectus or the date of the document incorporated by reference,
as applicable. Unless required by law, we undertake no obligation to update or revise any forward-looking statements to reflect
new information or future events or developments. Thus, you should not assume that our silence over time means that actual events
are bearing out as expressed or implied in such forward-looking statements.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_006"></A>USE OF PROCEEDS </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We cannot guarantee that we will receive any proceeds in connection with this offering
because we may be unable or choose not to issue and sell any securities covered by this prospectus.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Unless otherwise provided in a supplement or amendment to this prospectus, we intend
to use any net proceeds from this offering, together with other available funds, for working capital and for other general corporate
purposes.&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Pending these uses, we intend to invest the net proceeds to us from this offering in
a variety of capital preservation investments, including short-term, investment-grade and interest-bearing instruments. The precise
amounts and timing of the application of proceeds will depend upon our funding requirements and the availability of other funds.
Except as mentioned in any prospectus supplement, specific allocations of the proceeds to such purposes will not have been made
at the date of that prospectus supplement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Based upon our historical and anticipated future growth and our financial needs, we may
engage in additional financings of a character and amount that we determine as the need arises. We may raise additional capital
through additional public or private financings, the incurrence of debt and other available sources. Please see the discussion
of the risks associated with our liquidity in the section &ldquo;Risk Factors.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_007"></A>PLAN OF DISTRIBUTION </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The securities being offered may be sold in one or more transactions at fixed prices,
at prevailing market prices at the time of sale, at prices related to the prevailing market prices, at varying prices determined
at the time of sale, or at negotiated prices. These sales may be effected at various times in one or more of the following transactions,
or in other kinds of transactions:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">through underwriters for resale to the public or investors;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">transactions on the Nasdaq Stock Market or on any national securities exchange or U.S. inter-dealer system of a registered national securities association on which our common stock may be listed or quoted at the time of sale;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">in the over-the-counter market;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">in private transactions and transactions otherwise than on these exchanges or systems or in the over-the-counter market;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">in &ldquo;at the market&rdquo; offerings, within the meaning of Rule&nbsp;415(a)(4)&nbsp;of the Securities Act of 1933, as amended, or the Securities Act, to or through a market maker or into an existing trading market, on an exchange or otherwise;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">in connection with short sales of the shares;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">by pledge to secure debt and other obligations;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">through the writing of options, whether the options are listed on an options exchange or otherwise;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">in connection with the writing of non-traded and exchange-traded call options, in hedge transactions and in settlement of other transactions in standardized or over-the-counter options;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">through a combination of any of the above transactions; or</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any other method permitted by law.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may sell our securities directly to one or more purchasers, or to or through underwriters,
dealers or agents or through a combination of those methods. The related prospectus supplement will set forth the terms of each
offering, including:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the name or names of any agents, dealers, underwriters or investors who purchase the securities;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the purchase price of the securities being offered and the proceeds we will receive from the sale;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the amount of any compensation, discounts, commissions or fees to be received by the underwriters, dealer or agents;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any over-allotment options under which underwriters may purchase additional securities from us;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any discounts or concessions allowed or reallowed or paid to dealers;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any securities exchanges on which such securities may be listed;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the terms of any indemnification provisions, including indemnification from liabilities under the federal securities laws; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.55in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the nature of any transaction by an underwriter, dealer or agent during the offering that is intended to stabilize or maintain the market price of the securities.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">With respect to any &ldquo;at the market&rdquo; offerings, unless we inform you otherwise
in the prospectus supplement, the sales agent with respect to any such at-the-market offering will make all sales using commercially
reasonable efforts consistent with its normal trading and sales practices and applicable laws, rules and regulations, on mutually
agreeable terms between the sales agent and us. We will include in the prospectus supplement the amount of any compensation to
be received by the sales agent.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In addition, any securities covered by this prospectus that qualify for sale pursuant
to Regulation&nbsp;S may be sold pursuant to Regulation&nbsp;S rather than pursuant to this prospectus.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In connection with the sale of our securities, underwriters may receive compensation
from us or from purchasers of our securities in the form of discounts, concessions or commissions. Underwriters, dealers and agents
that participate in the distribution of our securities may be deemed to be underwriters. Discounts or commissions they receive
and any profit on their resale of our securities may be considered underwriting discounts and commissions under the Securities
Act.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In compliance with the guidelines of the Financial Industry Regulatory Authority, or
FINRA, the maximum consideration or discount to be received by any FINRA member or independent broker dealer may not exceed eight
percent (8.0%) of the aggregate amount of the securities offered to this prospectus.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may agree to indemnify underwriters, dealers and agents who participate in the distribution
of our securities against various liabilities, including liabilities under the Securities Act. We may also agree to contribute
to payments that the underwriters, dealers or agents may be required to make in respect of these liabilities. We may authorize
dealers or other persons who act as our agents to solicit offers by various institutions to purchase our securities from us under
contracts that provide for payment and delivery on a future date. We may enter into these contracts with commercial and savings
banks, insurance companies, pension funds, investment companies, educational and charitable institutions and others. If we enter
into these agreements concerning any series of our securities, we will indicate that in the prospectus supplement or amendment.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In connection with an offering of our securities, underwriters may engage in transactions
that stabilize, maintain or otherwise affect the price of our securities. Specifically, underwriters may over-allot in connection
with the offering, creating a syndicate short position in our securities for their own account. In addition, underwriters may bid
for, and purchase, our securities in the open market to cover short positions or to stabilize the price of our securities. Finally,
underwriters may reclaim selling concessions allowed for distributing our securities in the offering if the underwriters repurchase
previously distributed securities in transactions to cover short positions, in stabilization transactions or otherwise. Any of
these activities may stabilize or maintain the market price of our securities above independent market levels. Underwriters are
not required to engage in any of these activities and may end any of these activities at any time. Agents and underwriters may
engage in transactions with, or perform services for, us and our affiliates in the ordinary course of business.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_008"></A><B>SECURITIES WE MAY&nbsp;OFFER </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The descriptions of the securities contained in this prospectus, together with the applicable
prospectus supplements, summarize all the material terms and provisions of the various types of securities that we may offer. We
will describe in the applicable prospectus supplement the particular terms of the securities offered by that prospectus supplement.
If we so indicate in the applicable prospectus supplement, the terms of the securities may differ from the terms we have summarized
below. We will also include in the prospectus supplement information, where applicable, about material United States federal income
tax considerations relating to the securities and the securities exchange, if any, on which the securities will be listed.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Description of Capital Stock </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The following description of our common stock and preferred stock, together with the
additional information we include in any applicable prospectus supplements, summarizes the material terms and provisions of the
common stock and preferred stock that we may offer under this prospectus. The following description of our capital stock does not
purport to be complete and is subject to, and qualified in its entirety by, our Charter and our Amended and Restated Bylaws, as
amended, or our &ldquo;Bylaws&rdquo;, which are exhibits to the registration statement of which this prospectus forms a part, and
by applicable law. The terms of our common stock and preferred stock may also be affected by Delaware law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Authorized Capital Stock </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our authorized capital stock consists of 80,000,000 shares of common stock, par value
$0.01 per share, and 5,000,000 shares of undesignated preferred stock, par value $0.01 per share.&nbsp;As of March 31, 2018, there
were 35,663,850 shares of common stock outstanding and no shares of preferred stock outstanding.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Common Stock </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Holders of our common stock are entitled to one vote for each share held of record on
all matters submitted to a vote of shareholders; provided, that, except as otherwise required by law, holders of common stock are
not entitled to vote on any amendment to the Charter that changes the powers, preferences, rights or other terms of one or more
series of undesignated preferred stock if the holders of the affected series are entitled to vote, separately or together, with
the holders of one or more other such series, on such amendment pursuant to the Charter or Delaware General Corporation Law. Our
Charter provides that our Board shall be divided into three classes, each consisting as nearly as reasonably may be possible of
one-third of the total number of directors constituting the entire Board, with each class&rsquo;s term expiring on a staggered
basis. Newly-created directorships and vacancies on our Board may only be filled by a majority of the members of the incumbent
board then in office, though less than a quorum, and not by our stockholders. Directors may be removed from office only for cause
by the affirmative vote of the holders of at least seventy-five percent (75%) of the outstanding shares entitled to be cast on
the election of directors by the then-outstanding shares of all classes and series of capital stock, voting together as a single
class. Holders of common stock have no preemptive, redemption or conversion rights and are not subject to future calls or assessments.
No sinking fund provisions apply to our common stock. All outstanding shares are fully-paid and non-assessable. In the event of
our liquidation, dissolution or winding up, after the satisfaction in full of the liquidation preferences of holders of any preferred
stock, holders of common stock are entitled to ratable distribution of the remaining assets available for distribution to stockholders.
Holders of common stock are entitled to receive proportionately any such dividends declared by our Board, out of legally available
funds for dividends, subject to any preferences that may be applicable to any shares of preferred stock that may be outstanding
at that time. The rights, preferences and privileges of holders of common stock are subject to, and may be adversely affected by,
the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;<FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Listing </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our common stock is listed on the NASDAQ Global Market under the symbol &ldquo;HBIO.&rdquo;
On April 25, 2018, the closing price for our common stock, as reported on the NASDAQ Global Market, was $5.80 per share. As of
the close of business on March 31, 2018, there were approximately 116 stockholders of record of our common stock.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Transfer Agent and Registrar </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The transfer agent and registrar for our common stock is Computershare.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Preferred Stock </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our Board is authorized to issue up to 5,000,000 shares of preferred stock in one or
more series without shareholder approval. Our Board may determine the rights, preferences, privileges and restrictions, including
voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred
stock.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The purpose of authorizing our Board to issue preferred stock in one or more series and
determine the number of shares in the series and its rights and preferences is to eliminate delays associated with a shareholder
vote on specific issuances. Examples of rights and preferences that the Board may fix are:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">dividend rights;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">dividend rates;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">conversion rights;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">voting rights;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">terms of redemption; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">liquidation preferences.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The existence of authorized but unissued shares of preferred stock may enable our Board
to render more difficult or to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest
or otherwise. For example, if in the due exercise of its fiduciary obligations, our Board were to determine that a takeover proposal
is not in the best interests of us or our stockholders, our Board could cause shares of preferred stock to be issued without stockholder
approval in one or more private offerings or other transactions that might dilute the voting or other rights of the proposed acquirer,
stockholder or stockholder group.&nbsp;The rights of holders of our common stock described above, will be subject to, and may be
adversely affected by, the rights of any preferred stock that we may designate and issue in the future. The issuance of shares
of preferred stock could decrease the amount of earnings and assets available for distribution to holders of shares of common stock.
The issuance may also adversely affect the rights and powers, including voting rights, of these holders and may have the effect
of delaying, deterring or preventing a change in control of us.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We will incorporate by reference as an exhibit to the registration statement, which includes
this prospectus, the form of any certificate of designations that describes the terms of the series of preferred stock we are offering.
This description and the applicable prospectus supplement will include:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the title and stated value;</FONT></TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the number of shares authorized;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the liquidation preference per share;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the purchase price;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the dividend rate, period and payment date, and method of calculation for dividends;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">whether dividends will be cumulative or non-cumulative and, if cumulative, the date from which dividends will accumulate;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.55in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the procedures for any auction and remarketing, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the provisions for a sinking fund, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the provisions for redemption or repurchase, if applicable, and any restrictions on our ability to exercise those redemption and repurchase rights;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any listing of the preferred stock on any securities exchange or market;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">whether the preferred stock will be convertible into our common stock, and, if applicable, the conversion price, or how it will be calculated, and the conversion period;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">voting rights, if any, of the preferred stock;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">preemptive rights, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">restrictions on transfer, sale or other assignment, if any;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">whether interests in the preferred stock will be represented by depositary shares;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">a discussion of any material United States federal income tax considerations applicable to the preferred stock;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the relative ranking and preferences of the preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any limitations on issuance of any class or series of preferred stock ranking senior to or on a parity with the series of preferred stock as to dividend rights and rights if we liquidate, dissolve or wind up our affairs; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any other specific terms, preferences, rights or limitations of, or restrictions on, the preferred stock.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">When we issue shares of preferred stock under this prospectus, the shares will fully
be paid and nonassessable and will not have, or be subject to, any preemptive or similar rights.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Third Amended and Restated 2000 Stock Option and Incentive Plan</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Under the Third Amended and Restated 2000 Stock Option and Incentive Plan (as amended,
the &ldquo;Plan&rdquo;), we can grant stock options to employees, directors and consultants. The Plan also permits us to make grants
of incentive stock options, non-qualified stock options, stock appreciation rights, deferred stock awards, restricted stock awards,
unrestricted stock awards, performance shares and dividend equivalent rights. We currently have reserved 17,508,929 shares of common
stock for the issuance of awards under the Plan, of which options to purchase 3,780,244 shares and 1,796,927 restricted stock units
were issued as of December 31, 2017.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">On April 2, 2018, the Board approved, subject to shareholder approval, an amendment to
the Plan (the &ldquo;Plan Amendment&rdquo;) to increase by 3,400,000 shares the number of authorized shares of common stock available
for issuance under the Plan from 17,508,929 shares to 20,908,929 shares. The Board is seeking stockholder approval of the Plan
Amendment, which is included on our definitive proxy statement on Schedule 14A filed with the SEC on April 6, 2018. In the event
that the Plan Amendment is not approved by stockholders, the Plan will continue in effect without the amendment described above.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Employee Stock Purchase Plan</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Under our employee stock purchase plan, participating employees can authorize us to withhold
a portion of their base pay during consecutive six-month payment periods for the purchase of shares of our common stock. At the
conclusion of the period, participating employees can purchase shares of our common stock at eight-five percent (85%) of the lower
of the fair market value of our common stock at the beginning or end of the period. Shares are issued under the plan for the six-month
periods ending June&nbsp;30 and December&nbsp;31. Under this plan, 1,050,000 shares of common stock are authorized for issuance,
of which 801,454 shares were issued as of December 31, 2017.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Provisions of our Certificate of Incorporation and Bylaws and Delaware Anti-Takeover
Law </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Certain provisions of the Delaware General Corporation Law and of our Charter and Bylaws
could have the effect of delaying, deferring or discouraging another party from acquiring control of us. These provisions, which
are summarized below, are expected to discourage certain types of coercive takeover practices and inadequate takeover bids and,
as a consequence, they might also inhibit temporary fluctuations in the market price of our common stock that often result from
actual or rumored hostile takeover attempts. These provisions are also designed in part to encourage anyone seeking to acquire
control of us to first negotiate with our Board. These provisions might also have the effect of preventing changes in our management.
It is possible that these provisions could make it more difficult to accomplish transactions that stockholders might otherwise
deem to be in their best interests. However, we believe that the advantages gained by protecting our ability to negotiate with
any unsolicited and potentially unfriendly acquirer outweigh the disadvantages of discouraging such proposals, including those
priced above the then-current market value of our common stock, because, among other reasons, the negotiation of such proposals
could improve their terms.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Provisions of our Certificate of Incorporation and Bylaws</I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our Charter, our Bylaws and Delaware law contain provisions that could discourage, delay
or prevent a third party from acquiring us, even if doing so may be beneficial to our stockholders. In addition, these provisions
could limit the price investors would be willing to pay in the future for shares of our common stock. The following are examples
of such provisions in our Charter and Bylaws:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">only our Board, pursuant to a resolution adopted by a majority of our directors, may call special meetings of our stockholders;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">stockholders may not act by written consent and stockholder action must take place at the annual or special meeting of our stockholders;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">stockholder proposals and nominations of candidates for election as directors other than nominations made by or at the direction of our Board or a committee of our Board to be brought before any meeting of our stockholders must comply with advance notice procedures;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our Board is classified into three classes, each consisting as nearly as reasonably may be possible of one-third of the total number of directors constituting the entire Board;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our Board will fix the exact number of directors to comprise our Board;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">subject to any rights that holders of any series of our undesignated preferred stock may have to elect directors and to fill vacancies on our Board, newly-created directorships and vacancies on our Board may only be filled by a majority of the members of the incumbent board then in office, even if less than a quorum is present, and not by our stockholders;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">a director may be removed from office only for cause by the affirmative vote of holders of shares representing at least seventy-five percent (75%) of the votes entitled to be cast on such matter by the then-outstanding shares of all classes and series of our capital stock, voting together as a single class;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our Charter and Bylaws do not provide for cumulative voting in the election of directors;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our Bylaws may be further amended by either (i) the affirmative vote of at least a majority of our entire Board or (ii) the affirmative vote of the holders of at least seventy-five percent (75%) of the combined voting power of the outstanding shares of all classes and series of our capital stock entitled to vote on such amendment, voting together as a single class; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">our Board is authorized to issue, without further action by our stockholders, up to 5,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by our Board.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Additionally, as required by the Delaware General Corporation Law, any amendment of our
Charter must first be approved by a majority of our Board and, as required by our Charter, thereafter be approved by a majority
of the outstanding shares entitled to vote on the amendment, and a majority of the outstanding shares of each class entitled to
vote thereon, voting together as a single class, except that the amendment of the provisions relating to stockholder action, directors,
limitation of liability, the amendment of our Bylaws and Charter and forum must be approved by not less than seventy-five percent
(75%) of the outstanding shares entitled to vote on the amendment, and not less than seventy-five percent (75%) of the outstanding
shares of each class entitled to vote thereon as a class. Our Bylaws may be amended by either (i) a vote of at least a majority
of our entire Board or (ii) a vote of the holders of at least seventy-five percent (75%) of the combined voting power of the outstanding
shares of all classes and series of our capital stock entitled to vote on such amendment, voting together as a single class.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I>Delaware Anti-Takeover Law</I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We are subject to the provisions of Section&nbsp;203 of the Delaware General Corporation
Law. In general, Section&nbsp;203 prohibits a publicly-held Delaware corporation from engaging in a &ldquo;business combination&rdquo;
with an &ldquo;interested stockholder&rdquo; for a three-year period following the time that this stockholder becomes an interested
stockholder, unless the business combination is approved in a prescribed manner. A &ldquo;business combination&rdquo; includes,
among other things, a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder.
An &ldquo;interested stockholder&rdquo; is a person who, together with affiliates and associates, owns, or did own within three
years prior to the determination of interested stockholder status, fifteen percent (15%) or more of the corporation&rsquo;s voting
stock. Under Section&nbsp;203, a business combination between a corporation and an interested stockholder is prohibited unless
it satisfies one of the following conditions:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">before the stockholder became interested, the Board approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least eight-five percent (85%) of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans, in some instances; or</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">at or after the time the stockholder became interested, the business combination was approved by the Board of the corporation and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Description of Warrants </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The following description, together with the additional information we may include in
any applicable prospectus supplements, summarizes the material terms and provisions of the warrants that we may offer under this
prospectus and the related warrant agreements and warrant certificates. While the terms summarized below will apply generally to
any warrants that we may offer, we will describe the particular terms of any series of warrants in more detail in the applicable
prospectus supplement. If we indicate in the prospectus supplement, the terms of any warrants offered under that prospectus supplement
may differ from the terms described below. Specific warrant agreements will contain additional important terms and provisions and
will be incorporated by reference as an exhibit to the registration statement, which includes this prospectus.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>General </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may issue warrants for the purchase of common stock and/or preferred stock in one
or more series. We may issue warrants independently or together with common stock and/or preferred stock, and the warrants may
be attached to or separate from these securities.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We will evidence each series of warrants by warrant certificates that we will issue under
a separate warrant agreement. We will enter into the warrant agreement with a warrant agent. We will indicate the name and address
of the warrant agent in the applicable prospectus supplement relating to a particular series of warrants.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We will describe in the applicable prospectus supplement the terms of the series of warrants,
including:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the offering price and aggregate number of warrants offered;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the currency for which the warrants may be purchased;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">if applicable, the designation and terms of the securities with which the warrants are issued and the number of warrants issued with each such security or each principal amount of such security;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">if applicable, the date on and after which the warrants and the related securities will be separately transferable;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">in the case of warrants to purchase common stock or preferred stock, the number of shares of common stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at which these shares may be purchased upon such exercise;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreement and the warrants;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the terms of any rights to redeem or call the warrants;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any provisions for changes to or adjustments in the exercise price or number of securities issuable upon exercise of the warrants;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the periods during which, and places at which, the warrants are exercisable;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the manner of exercise;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the dates on which the right to exercise the warrants will commence and expire;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the manner in which the warrant agreement and warrants may be modified;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">federal income tax consequences of holding or exercising the warrants;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.55in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the terms of the securities issuable upon exercise of the warrants; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any other specific terms, preferences, rights or limitations of or restrictions on the warrants.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Description of Units </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may issue units comprised of shares of common stock, shares of preferred stock and
warrants in any combination. We may issue units in such amounts and in as many distinct series as we wish. This section outlines
certain provisions of the units that we may issue. If we issue units, they will be issued under one or more unit agreements to
be entered into between us and a bank or other financial institution, as unit agent. The information described in this section
may not be complete in all respects and is qualified entirely by reference to the unit agreement with respect to the units of any
particular series. The specific terms of any series of units offered will be described in the applicable prospectus supplement.
If so described in a particular supplement, the specific terms of any series of units may differ from the general description of
terms presented below. We urge you to read any prospectus supplement related to any series of units we may offer, as well as the
complete unit agreement and unit certificate that contain the terms of the units. If we issue units, forms of unit agreements and
unit certificates relating to such units will be incorporated by reference as exhibits to the registration statement, which includes
this prospectus.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Each unit that we may issue will be issued so that the holder of the unit is also the
holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each
included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not
be held or transferred separately, at any time or at any time before a specified date. The applicable prospectus supplement may
describe:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any provisions of the governing unit agreement;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the price or prices at which such units will be issued;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the applicable United States federal income tax considerations relating to the units;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any other terms of the units and of the securities comprising the units.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The provisions described in this section, as well as those described under &ldquo;Description
of Capital Stock&rdquo; and &ldquo;Description of Warrants&rdquo; will apply to the securities included in each unit to the extent
relevant and as may be updated in any prospectus supplements.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Issuance in Series </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may issue units in such amounts and in as many distinct series as we wish. This section
summarizes terms of the units that apply generally to all series. Most of the financial and other specific terms of your series
will be described in the applicable prospectus supplement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Unit Agreements </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We will issue the units under one or more unit agreements to be entered into between
us and a bank or other financial institution, as unit agent. We may add, replace or terminate unit agents from time to time. We
will identify the unit agreement under which each series of units will be issued and the unit agent under that agreement in the
applicable prospectus supplement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The following provisions will generally apply to all unit agreements unless otherwise
stated in the applicable prospectus supplement:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>Modification without Consent</I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We and the applicable unit agent may amend any unit or unit agreement without the consent
of any holder:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">to cure any ambiguity; any provisions of the governing unit agreement that differ from those described below;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">to correct or supplement any defective or inconsistent provision; or</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">to make any other change that we believe is necessary or desirable and will not adversely affect the interests of the affected holders in any material respect.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We do not need any approval to make changes that affect only units to be issued after
the changes take effect. We may also make changes that do not adversely affect a particular unit in any material respect, even
if they adversely affect other units in a material respect. In those cases, we do not need to obtain the approval of the holder
of the unaffected unit; we need only obtain any required approvals from the holders of the affected units.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>Modification with Consent</I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We may not amend any particular unit or a unit agreement with respect to any particular
unit unless we obtain the consent of the holder of that unit, if the amendment would:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">impair any right of the holder to exercise or enforce any right under a security included in the unit if the terms of that security require the consent of the holder to any changes that would impair the exercise or enforcement of that right; or</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">reduce the percentage of outstanding units or any series or class the consent of whose holders is required to amend that series or class, or the applicable unit agreement with respect to that series or class, as described below.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Any other change to a particular unit agreement and the units issued under that agreement
would require the following approval:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">If the change affects only the units of a particular series issued under that agreement, the change must be approved by the holders of a majority of the outstanding units of that series; or</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">If the change affects the units of more than one series issued under that agreement, it must be approved by the holders of a majority of all outstanding units of all series affected by the change, with the units of all the affected series voting together as one class for this purpose.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">These provisions regarding changes with majority approval also apply to changes affecting
any securities issued under a unit agreement, as the governing document.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In each case, the required approval must be given by written consent.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>Mergers and Similar Transactions Permitted; No Restrictive
Covenants or Events of Default </I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The unit agreements will not restrict our ability to merge or consolidate with, or sell
our assets to, another corporation or other entity or to engage in any other transactions. If at any time we merge or consolidate
with, or sell our assets substantially as an entirety to, another corporation or other entity, the successor entity will succeed
to and assume our obligations under the unit agreements. We will then be relieved of any further obligation under these agreements.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The unit agreements will not include any restrictions on our ability to put liens on
our assets, including our interests in our subsidiaries, nor will they restrict our ability to sell our assets. The unit agreements
also will not provide for any events of default or remedies upon the occurrence of any events of default.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>Governing Law </I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The unit agreements and the units will be governed by Delaware law.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>Form, Exchange and Transfer </I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We will issue each unit in global&mdash;i.e., book-entry&mdash;form only. Units in book-entry
form will be represented by a global security registered in the name of a depositary, which will be the holder of all the units
represented by the global security. Those who own beneficial interests in a unit will do so through participants in the depositary&rsquo;s
system, and the rights of these indirect owners will be governed solely by the applicable procedures of the depositary and its
participants. We will describe book-entry securities, and other terms regarding the issuance and registration of the units in the
applicable prospectus supplement.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Each unit and all securities comprising the unit will be issued in the same form.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">If we issue any units in registered, non-global form, the following will apply to them.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The units will be issued in the denominations stated in the applicable prospectus supplement.
Holders may exchange their units for units of smaller denominations or combined into fewer units of larger denominations, as long
as the total amount is not changed.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Holders may exchange or transfer their units at the office of the unit agent. Holders may also replace lost, stolen, destroyed or mutilated units at that office. We may appoint another entity to perform these functions or perform them ourselves.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Holders will not be required to pay a service charge to transfer or exchange their units, but they may be required to pay for any tax or other governmental charge associated with the transfer or exchange. The transfer or exchange, and any replacement, will be made only if our transfer agent is satisfied with the holder&rsquo;s proof of legal ownership. The transfer agent may also require an indemnity before replacing any units.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">If we have the right to redeem, accelerate or settle any units before their maturity, and we exercise our right as to less than all those units or other securities, we may block the exchange or transfer of those units during the period beginning 15&nbsp;days before the day we mail the notice of exercise and ending on the day of that mailing, in order to freeze the list of holders to prepare the mailing. We may also refuse to register transfers of or exchange any unit selected for early settlement, except that we will continue to permit transfers and exchanges of the unsettled portion of any unit being partially settled. We may also block the transfer or exchange of any unit in this manner if the unit includes securities that are or may be selected for early settlement.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Only the depositary will be entitled to transfer or exchange a unit in global form, since
it will be the sole holder of the unit.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"><B><I></I></B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"><B><I>Payments and Notices </I></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">In making payments and giving notices with respect to our units, we will follow the procedures
as described in the applicable prospectus supplement.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_009"></A><B>LEGAL MATTERS </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Certain legal matters in connection with this offering will be passed upon for us by
Burns &amp; Levinson LLP, Boston, Massachusetts. Any underwriters will also be advised about the validity of the securities and
other legal matters by their own counsel, which will be named in the prospectus supplement.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_010"></A><B>EXPERTS </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The consolidated financial statements of Harvard Bioscience, Inc. and subsidiaries as
of December 31, 2016 and 2015, and for each of the years in the two-year period ended December 31, 2016, have been incorporated
by reference herein and in the registration statement in reliance upon the report of KPMG LLP, independent registered public accounting
firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The consolidated financial statements of Harvard Bioscience, Inc. as of December 31,
2017, and for the year ended December 31, 2017, and management's assessment of the effectiveness of internal control over financial
reporting as of December 31, 2017 have been incorporated by reference herein and in the registration statement in reliance upon
the reports of Grant Thornton LLP, independent registered public accounting firm upon the authority of said firm as experts in
accounting and auditing.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_011"></A><B>INDEPENDENT AUDITORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The consolidated financial statements of Data Sciences International, Inc. and Subsidiaries as of and for the years ended
June 30, 2017 and 2016, have been incorporated by reference herein and in the registration statement in reliance upon the
report of RSM US LLP, independent auditors.</P>




<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_012"></A>WHERE YOU CAN FIND MORE INFORMATION </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We are subject to the information requirements of the Exchange Act and, in accordance
therewith, file annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy
any document we file at the SEC&rsquo;s Public Reference Room&nbsp;at 100 F Street, Washington, D.C. 20549. You may call the SEC
at 1-800-SEC-0330 for further information on the operation of the Public Reference Room. These documents also may be accessed through
the SEC&rsquo;s electronic data gathering, analysis and retrieval system, or EDGAR, via electronic means, including the SEC&rsquo;s
home page&nbsp;on the Internet (<I>www.sec.gov</I>).</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We have the authority to designate and issue more than one class or series of stock having
various preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends, qualifications, and
terms and conditions of redemption. See &ldquo;Description of Capital Stock.&rdquo; We will furnish a full statement of the relative
rights and preferences of each class or series of our stock which has been so designated and any restrictions on the ownership
or transfer of our stock to any shareholder upon request and without charge. Written requests for such copies should be directed
to Harvard Bioscience, Inc., 84 October Hill Road, Holliston, Massachusetts 01746-1371, or by telephone request to (508) 893-8999.
Our website is located at <I>http://www.harvardbioscience.com</I>. Information contained on our website is not incorporated by
reference into this prospectus and, therefore, is not part of this prospectus or any accompanying prospectus supplement.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_013"></A><B>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The SEC allows us to incorporate by reference the information and reports we file with
it, which means that we can disclose important information to you by referring you to these documents. The information incorporated
by reference is an important part of this prospectus, and information that we file later with the SEC will automatically update
and supersede the information already incorporated by reference. We are incorporating by reference the documents listed below,
which we have already filed with the SEC, and any future filings we make with the SEC under Sections 13(a), 13(c), 14 or 15(d)
of the Exchange Act, except as to any portion of any future report or document that is not deemed filed under such provisions,
until we sell all of the securities:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Our Annual Report on Form 10-K for the year ended December&nbsp;31, 2017 filed with the SEC on March 16, 2018);</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD>
        Our Current Reports on Form 8-K filed with the SEC on January 26, 2018, February 2, 2018 (as amended by
Form 8-K/A filed April 17, 2018) and March 2, 2018 (in each case, except for information contained therein which is furnished rather than filed);        </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Our Definitive Proxy Statement on Schedule 14A filed with the SEC on April 6, 2018; and</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">The description of our common stock contained in our Amendment No. 6 to Form S-1 Registration Statement filed with the SEC on December 6, 2000.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Upon request, we will provide, without charge, to each person, including any beneficial
owner, to whom a copy of this prospectus is delivered a copy of the documents incorporated by reference into this prospectus. You
may request a copy of these filings, and any exhibits we have specifically incorporated by reference as an exhibit in this prospectus,
at no cost by writing or telephoning us at the following address:</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1in">Harvard Bioscience, Inc.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1in">84 October Hill Road</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1in">Holliston, Massachusetts 01746-1371</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 1in">Telephone: (508) 893-8999</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">This prospectus is part of a registration statement we filed with the SEC. We have incorporated
exhibits into this registration statement. You should read the exhibits carefully for provisions that may be important to you.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">You should rely only on the information incorporated by reference or provided in this
prospectus or any prospectus supplement. We have not authorized anyone to provide you with different information. We are not making
an offer of these securities in any state where the offer is not permitted. You should not assume that the information in this
prospectus or in the documents incorporated by reference is accurate as of any date other than the date on the front of this prospectus
or those documents.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>$50,000,000</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0; color: Red"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Common Stock </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Preferred Stock</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Warrants </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Units </B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>PROSPECTUS</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0.5in; margin: 0pt 0"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2018</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">We have not authorized any dealer, salesperson or other person to give any information
or represent anything not contained in this prospectus. You must not rely on any unauthorized information. If anyone provides you
with different or inconsistent information, you should not rely on it. This prospectus does not offer to sell any securities in
any jurisdiction where it is unlawful. Neither the delivery of this prospectus, nor any sale made hereunder, shall create any implication
that the information in this prospectus is correct after the date hereof.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>


<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 28 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Part&nbsp;II&mdash;INFORMATION NOT REQUIRED IN PROSPECTUS </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item&nbsp;14. Other Expenses of Issuance and Distribution </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The expenses payable by Harvard Bioscience, Inc. (the &ldquo;Registrant&rdquo; or the
&ldquo;Company&rdquo;) in connection with the issuance and distribution of the securities being registered (other than underwriting
discounts and commissions, if any) are set forth below. Each item listed is estimated, except for the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) registration fee.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">SEC registration fee</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">6,225</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 1%">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">FINRA filing fee</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Legal fees and expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Accounting fees and expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Printing fees and expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Transfer agent and trustee fees</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Miscellaneous</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">6,225</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 99%"><FONT STYLE="font-size: 10pt">Estimated expenses not presently known. </FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item&nbsp;15. Indemnification of Directors and Officers </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As permitted by Section&nbsp;102 of the Delaware General Corporation Law, we have adopted
provisions in our Second Amended and Restated Certificate of Incorporation, or our Charter, and Amended and Restated Bylaws, as
amended, or our Bylaws, that limit or eliminate the personal liability of our directors for a breach of their fiduciary duty of
care as a director. The duty of care generally requires that, when acting on behalf of the corporation, directors exercise an informed
business judgment based on all material information reasonably available to them. Consequently, a director will not be personally
liable to us or our stockholders for monetary damages or breach of fiduciary duty as a director, except for liability for:</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any breach of the director&rsquo;s duty of loyalty to us or our stockholders;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any act related to unlawful stock repurchases, redemptions or other distributions or payments of dividends; or</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.25in; margin: 0pt 0 0pt 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">any transaction from which the director derived an improper personal benefit.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">These limitations of liability do not affect the availability of equitable remedies such
as injunctive relief or rescission. Our Charter also authorizes us to indemnify our officers, directors and other agents to the
fullest extent permitted under Delaware law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">As permitted by Section&nbsp;145 of the Delaware General Corporation Law, our Charter
and Bylaws provide that we will indemnify any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding by reason of the fact that such person, or a person of whom he or she is the legal
representative, is or was our director or officer, or by reason of the fact that our director or officer is or was serving, at
our request, as a director, officer, employee or agent of another corporation or of a partnership, joint venture, trust or other
enterprise, including service with respect to employee benefit plans maintained or sponsored by us. We will indemnify such persons
against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred
in connection with such action if such person acted in good faith and in a manner reasonably believed to be in our best interests
and, with respect to any criminal proceeding, had no reason to believe such person&rsquo;s conduct was unlawful. A similar standard
is applicable in the case of derivative actions, except that indemnification only extends to expenses (including attorneys&rsquo;
fees) incurred in connection with the defense or settlement of such actions, and court approval is required before there can be
any indemnification where the person seeking indemnification has been found liable to us. Any amendment of this provision will
not reduce our indemnification obligations relating to actions taken before an amendment.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Our Charter and our Bylaws, each attached as an exhibit to our Amendment No. 2 to Form
S-1 Registration Statement (File No. 333-45996, filed with the SEC on November 9, 2000), provide for the indemnification provisions
described above and elsewhere herein. In addition, we have entered into separate indemnification agreements, a form of which is
attached as Exhibit 10.8 to our Amendment No. 1 to Form S-1 Registration Statement (File&nbsp;No.&nbsp;333-45996, filed with the
SEC on October 25, 2000), with our directors and officers which may be broader than the specific indemnification provisions contained
in the Delaware General Corporation Law.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">These indemnification agreements generally require us, among other things, to indemnify
our officers and directors against liabilities that may arise by reason of their status or service as directors or officers, subject
to certain exceptions and limitations. These indemnification agreements also require us to advance any expenses incurred by the
directors or officers as a result of any proceeding against them as to which they could be indemnified. In addition, we have obtained
policies that insure our directors and officers and those of our subsidiaries against certain liabilities they may incur in their
capacity as directors and officers. Under these policies, the insurer, on our behalf, may also pay amounts for which we have granted
indemnification to the directors or officers. These indemnification provisions and the indemnification agreements may be sufficiently
broad to permit indemnification of our officers and directors for liabilities, including reimbursement of expenses incurred, arising
under the Securities Act.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item&nbsp;16. Exhibits </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">A list of exhibits filed with this registration statement on Form&nbsp;S-3 is set forth
on the Exhibit&nbsp;Index and is incorporated herein by reference.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>Item&nbsp;17. Undertakings </B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">The undersigned registrant hereby undertakes:</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(i) To include any prospectus required by Section&nbsp;10(a)(3)&nbsp;of
the Securities Act of 1933;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(ii)&nbsp;To reflect in the prospectus any facts or events arising
after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually
or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would
not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be
reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule&nbsp;424(b)&nbsp;if, in
the aggregate, the changes in volume and price represent no more than a 20&nbsp;percent change in the maximum aggregate offering
price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement; and</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(iii)&nbsp;To include any material information with respect to
the plan of distribution not previously disclosed in the registration statement or any material change to such information in the
registration statement;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;<I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><I>provided, however</I>, that paragraphs (a)(l)(i), (a)(l)(ii)&nbsp;and (a)(l)(iii)&nbsp;of
this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d)&nbsp;of
the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form
of prospectus filed pursuant to Rule&nbsp;424(b)&nbsp;that is part of the registration statement;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">(2)&nbsp;That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">(3)&nbsp;To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the termination of the offering;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">(4)&nbsp;That, for the purpose of determining liability under the
Securities Act of 1933 to any purchaser:</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(i)&nbsp;Each prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(3)&nbsp;shall
be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration
statement; and</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(ii)&nbsp;Each prospectus required to be filed pursuant to Rule&nbsp;424(b)(2),
(b)(5), or (b)(7)&nbsp;as part of a registration statement in reliance on Rule&nbsp;430B relating to an offering made pursuant
to Rule&nbsp;415(a)(l)(i), (vii), or (x)&nbsp;for the purpose of providing the information required by Section&nbsp;10(a)&nbsp;of
the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date
such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering
described in the prospectus. As provided in Rule&nbsp;430B, for liability purposes of the issuer and any person that is at that
date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities
in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed
to be the initial <I>bona fide</I> offering thereof; <I>provided, however</I>, that no statement made in a registration statement
or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference
into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of
contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or
prospectus that was part of the registration statement or made in any such document immediately prior to such effective date;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">(5)&nbsp;That, for the purpose of determining liability of the
registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant
undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless
of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser
by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered
to offer or sell such securities to such purchaser:</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(i)&nbsp;Any preliminary prospectus or prospectus of the undersigned
registrant relating to the offering required to be filed pursuant to Rule&nbsp;424;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(ii)&nbsp;Any free writing prospectus relating to the offering
prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(iii)&nbsp;The portion of any other free writing prospectus relating
to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of
the undersigned registrant; and</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 79.55pt; margin: 0pt 0">(iv)&nbsp;Any other communication that is an offer in the offering
made by the undersigned registrant to the purchaser;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">(6)&nbsp;That, for purposes of determining any liability under
the Securities Act of 1933, each filing of the registrant&rsquo;s annual report pursuant to Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of
the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant
to Section&nbsp;15(d)&nbsp;of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement
shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof; and</P>

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-indent: 48.95pt; margin: 0pt 0">(7)&nbsp;Insofar as indemnification for liabilities arising under
the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed
by the final adjudication of such issue;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B></B></P>

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    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B><A NAME="a_001"></A>SIGNATURES</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused
this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Holliston,
Commonwealth of Massachusetts, on April 30, 2018.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>HARVARD BIOSCIENCE, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 28%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Jeffrey A. Duchemin</FONT></TD>
    <TD STYLE="width: 28%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Name: Jeffrey A. Duchemin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Title: Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">KNOW ALL BE THESE PRESENTS, that each person whose signature appears
below hereby severally constitutes and appoints Jeffrey A. Duchemin and Robert E. Gagnon, and each of them singly, as such person&rsquo;s
true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for such person and in such person&rsquo;s
name, place and stead, in any and all capacities, to sign any or all amendments (including, without limitation, post-effective
amendments) to this registration statement (or any registration statement for the same offering that is to be effective upon filing
pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto, and all documents in
connection therewith, with the Securities and Exchange Commission, granting unto each said attorney-in-fact and agent full power
and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully
to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that any said attorney-in-fact
and agent, or any substitute or substitutes of any of them, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the capacities and on the dates indicated. &nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 35%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Title</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ JEFFREY A. DUCHEMIN</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">President, Chief Executive Officer and Director (Principal Executive Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Jeffrey A. Duchemin</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid">
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">/s/ ROBERT E. GAGNON</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Robert E. Gagnon</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ KATHERINE A. EADE</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Katherine A. Eade</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ JAMES GREEN</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>James Green</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ JOHN F. KENNEDY</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>John F. Kennedy</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ EARL R. LEWIS</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Earl R. Lewis</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ THOMAS W. LOEWALD</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Thomas W. Loewald</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 45%"><FONT STYLE="font-size: 10pt">/s/ BERTRAND LOY</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 18%"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Bertrand Loy</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ GEORGE UVEGES</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 30, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>George Uveges</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="width: 100%; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="width: 100%; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: top; width: 10%; border-bottom: black 1pt solid; text-align: center">
        <P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit</B></P>
        <P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>No.</B></P></TD>
    <TD STYLE="vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 88%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">1.1*</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of underwriting agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000114420413059290/v359438_ex2-1.htm">2.1(3)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000114420413059290/v359438_ex2-1.htm"><FONT STYLE="font-size: 10pt">Separation and Distribution Agreement between Harvard Bioscience, Inc. and Biostage, Inc. (f/k/a Harvard Apparatus Regenerative Technology, Inc.) dated as of October 31, 2013</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184314004551/exh_21.htm">2.2(4)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184314004551/exh_21.htm"><FONT STYLE="font-size: 10pt">Share Purchase Agreement between Biochrom Limited, as Buyer, and Multi-Channel Systems Holding GmbH, as Seller, dated as of October 1, 2014</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184314004551/exh_22.htm">2.3(4)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184314004551/exh_22.htm"><FONT STYLE="font-size: 10pt">Stock Purchase Agreement by and among Harvard Bioscience, Inc., as Buyer, Triangle BioSystems, Inc., and the sellers party thereto dated as of October 1, 2014</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184315000157/exh_21.htm">2.4(5)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184315000157/exh_21.htm"><FONT STYLE="font-size: 10pt">Agreement for the Sale and Purchase of All Shares in HEKA GmbH by and among Multi Channel Systems MCS GmbH, as Purchaser, Dr. Peter Schulze GmbH &amp; Co. KG, as Seller, and Dr. Peter Schulze, as Guarantor, dated as of January 8, 2015</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184315000157/exh_22.htm">2.5(5)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184315000157/exh_22.htm"><FONT STYLE="font-size: 10pt">Agreement for the Sale and Purchase of All Shares in HEKA Canada between Ealing Scientific Limited, as Purchaser, and Dr. Peter Schulze, as Seller, dated as of January 8, 2015</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184318000685/exh_21.htm">2.6(6)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184318000685/exh_21.htm"><FONT STYLE="font-size: 10pt">Merger Agreement, dated as of January 22, 2018, between Harvard Bioscience, Inc., Plymouth Sub, Inc. and Data Sciences International, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184318000685/exh_22.htm">2.7(6)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184318000685/exh_22.htm"><FONT STYLE="font-size: 10pt">Purchase Agreement, dated as of January 22, 2018, between Harvard Bioscience, Inc., Denville Scientific, Inc. and Thomas Scientific, LLC</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700047957/a2029062zex-3_2.txt">3.1(1)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700047957/a2029062zex-3_2.txt"><FONT STYLE="font-size: 10pt">Second Amended and Restated Certificate of Incorporation of Harvard Bioscience, Inc. </FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700047957/a2029062zex-3_3.txt">3.2(1)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700047957/a2029062zex-3_3.txt"><FONT STYLE="font-size: 10pt">Amended and Restated Bylaws of Harvard Bioscience, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000119312507232564/dex31.htm">3.3(2)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000119312507232564/dex31.htm"><FONT STYLE="font-size: 10pt">Amendment No. 1 to Amended and Restated Bylaws of Harvard Bioscience, Inc. (as adopted October 30, 2007)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000119312508024128/dex31.htm">3.4(7)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000119312508024128/dex31.htm"><FONT STYLE="font-size: 10pt">Certificate of Designations, Preferences and Rights of a Series of Preferred Stock of Harvard Bioscience, Inc. classifying and designating the Series A Junior Participating Cumulative Preferred Stock</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184318001653/exh_41.htm">3.5(8)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000117184318001653/exh_41.htm"><FONT STYLE="font-size: 10pt">Certificate of Elimination of Series A Junior Participating Cumulative Preferred Stock, dated as of February 27, 2018</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700047957/a2029062zex-4_1.txt">4.1(1)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700047957/a2029062zex-4_1.txt"><FONT STYLE="font-size: 10pt">Specimen certificate for shares of Common Stock, $0.01 par value, of Harvard Bioscience,&nbsp;Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">4.2*</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Certificate of Designations</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">4.3*</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Warrant and Warrant Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">4.4*</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Unit Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700045901/a2028300zex-4_2.txt">4.5(9)</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="http://www.sec.gov/Archives/edgar/data/1123494/000091205700045901/a2028300zex-4_2.txt"><FONT STYLE="font-size: 10pt">Amended and Restated Securityholders&rsquo; Agreement dated as of March&nbsp;2, 1999 by and among Harvard Apparatus,&nbsp;Inc., Pioneer Partnership II, Pioneer Capital Corp., First New England Capital, L.P. and Citizens Capital,&nbsp;Inc. and Chane Graziano and David Green</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_51.htm">5.1</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="exh_51.htm"><FONT STYLE="font-size: 10pt">Opinion of Burns &amp; Levinson LLP</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_51.htm">23.1</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="exh_51.htm"><FONT STYLE="font-size: 10pt">Consent of Burns &amp; Levinson LLP (included in Exhibit 5.1) </FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; width: 10%"><A HREF="exh_232.htm"><FONT STYLE="font-size: 10pt">23.2</FONT></A></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%"><A HREF="exh_232.htm"><FONT STYLE="font-size: 10pt">Consent of Grant Thornton LLP</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_233.htm"><FONT STYLE="font-size: 10pt">23.3</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="exh_233.htm">Consent of KPMG LLP</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="exh_234.htm"><FONT STYLE="font-size: 10pt">23.4</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="exh_234.htm"><FONT STYLE="font-size: 10pt">Consent of RSM US LLP</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="#a_001"><FONT STYLE="font-size: 10pt">24.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="#a_001"><FONT STYLE="font-size: 10pt">Power of Attorney (included in signature page)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 29px"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">To be filed, if necessary, by amendment or as an exhibit to a document to be incorporated or deemed to be incorporated by reference in this registration statement, including a Current Report on Form 8-K.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Amendment No. 2 to Form S-1 Registration Statement (File&nbsp;No.&nbsp;333-45996, filed with the SEC on November 9, 2000) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Current Report on Form 8-K (filed on November&nbsp;1, 2007) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Current Report on Form 8-K (filed November 6, 2013) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Current Report on Form 8-K (filed October 1, 2014) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Current Report on Form 8-K (filed January 9, 2015) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(6)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Current Report on Form 8-K (filed January 26, 2018) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(7)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Registration Statement on Form 8-A (filed February&nbsp;8, 2008) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(8)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Registration Statement on Form 8-A/A (filed March 2, 2018) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(9)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Registration Statement on Form&nbsp;S-1/A (File&nbsp;No.&nbsp;333-45996, filed with the SEC on October 25, 2000) and incorporated by reference thereto.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(10)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Previously filed as an exhibit to the registrant&rsquo;s Registration Statement on Form 8-A (filed February&nbsp;8, 2008) and incorporated by reference thereto.</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</P>


<P STYLE="font-size: 10pt; margin-top: 0pt; text-align: center; margin-bottom: 0pt">II-8</P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exh_51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: right; text-indent: -0.5in"><B>Exhibit
5.1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 30, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Harvard Bioscience, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">84 October Hill Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Holliston, Massachusetts 01746</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 4%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt"><U>Registration Statement on Form&nbsp;S-3</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have acted as counsel to Harvard Bioscience, Inc., a Delaware
corporation (the &ldquo;<U>Company</U>&rdquo;), in connection with its filing with the Securities and Exchange Commission (the
&ldquo;<U>Commission</U>&rdquo;) of a registration statement on Form S-3 (the &ldquo;<U>Registration Statement</U>&rdquo;) under
the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), with respect to the registration of up to $50,000,000
of any combination of (i)&nbsp;common stock, par value $0.01 per share (the &ldquo;<U>Common Stock</U>&rdquo;), of the Company,
(ii)&nbsp;preferred stock, par value $0.01 per share, of the Company (the &ldquo;<U>Preferred Stock</U>&rdquo;), (iii)&nbsp;warrants
to purchase Common Stock, Preferred Stock or Units (as defined below ) (&ldquo;<U>Warrants</U>&rdquo;) or (iv)&nbsp;units comprised
of Common Stock, Preferred Stock and Warrants in any combination (&ldquo;<U>Units</U>&rdquo;).&nbsp;The Common Stock, Preferred
Stock, Warrants and Units are sometimes referred to collectively herein as the &ldquo;<U>Securities</U>.&rdquo;&nbsp;Securities
may be issued in an unspecified number.&nbsp;The Registration Statement provides that the Securities may be offered separately
or together, in separate series, in amounts, at prices and on terms to be set forth in one or more prospectus supplements (each
a &ldquo;<U>Prospectus Supplement</U>&rdquo;) to the prospectus contained in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have examined such documents, instruments, certificates and
records, and made such examination of law as we have deemed appropriate to give the opinions set forth below.&nbsp;We have relied,
without independent verification, on certificates of public officials and, as to matters of fact material to the opinions set forth
below, on certificates of officers of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In such examination, we have assumed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">a)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the authenticity of original documents and the genuineness of all signatures;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">b)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the conformity to the originals of all documents submitted to us as copies;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">c)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">the truth, accuracy and completeness of the information, representations and warranties contained in the records, documents, instruments and certificates we have reviewed;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">d)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">that the Registration Statement, and any amendments thereto (including post-effective amendments), will have become effective under the Securities Act and will comply with all applicable laws;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">e)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">that the Registration Statement, and any amendments thereto (including post-effective amendments) will be effective and will comply with all applicable laws at the time the Securities are offered or issued as contemplated by the Registration Statement;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">f)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">that a Prospectus Supplement will have been filed with the Commission describing the Securities offered thereby and will comply with all applicable laws at the time the Securities are offered or issued as contemplated by the Registration Statement;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">g)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">that all Securities will be issued and sold in compliance with applicable federal and state securities laws and in the manner stated in the Registration Statement and the applicable prospectus supplement;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">h)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">that the offer, issuance, sale and delivery of the Securities will not violate any applicable law or result in a violation of any provision of any instrument or agreement then binding upon the Company or any restriction imposed by any court or governmental body having jurisdiction over the Company;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">i)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">that a definitive underwriting, purchase or similar agreement with respect to any Securities offered will have been duly authorized and validly executed and delivered by the Company and the other parties thereto; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">j)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">at the time the Securities are offered or issued as contemplated by the Registration Statement, all corporate or other action required to be taken by the Company to duly authorize each proposed issuance of Securities and any related documentation shall have been duly completed and shall remain in full force and effect.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For purposes of the opinions set forth below, without limiting
any other exceptions or qualifications set forth herein, we have assumed that after the issuance of any Securities offered pursuant
to the Registration Statement, the total number of issued shares of Common Stock or Preferred Stock, as applicable, together with
the total number of shares of such stock issuable upon the exercise, exchange, conversion or settlement, as the case may be, of
any exercisable, exchangeable or convertible security (including without limitation any Unit), as the case may be, then outstanding,
will not exceed the total number of authorized shares of Common Stock or Preferred Stock, as applicable, under the Company&rsquo;s
amended and restated certificate of incorporation, as then in effect (the &ldquo;<U>Charter</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For purposes of the opinions set forth below, we refer to the
following as the &ldquo;Future Authorization and Issuance&rdquo; of Securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">with respect to any of the Securities, (a)&nbsp;the authorization by the Company of the amount, terms and issuance of such Securities (the &ldquo;<U>Authorization</U>&rdquo;) and (b)&nbsp;the issuance of such Securities in accordance with the Authorization therefor upon the receipt by the Company of the consideration (which, in the case of shares of Common Stock or Preferred Stock, is not less than the par value of such shares) to be paid therefor in accordance with the Authorization;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">with respect to Preferred Stock, (a)&nbsp;the establishment of the terms of such Preferred Stock by the Company in conformity with the Charter and applicable law and (b)&nbsp;the execution, acknowledgement and filing with the Delaware Secretary of State, and the effectiveness of, a certificate of designations to the Charter setting forth the terms of such Preferred Stock in accordance with the Charter and applicable law;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">with respect to Warrants or Units, (a)&nbsp;the authorization, execution and delivery by the Company and the other parties thereto of any agreement under which such Securities are to be issued and (b)&nbsp;the establishment of the terms of such Securities, and the execution and delivery of such Securities, in conformity with any applicable agreement under which such Securities are to be issued and applicable law.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based upon the foregoing, and subject to the additional qualifications
set forth below, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Upon the Future Authorization and Issuance of shares of Common Stock, such shares of Common Stock will be validly issued, fully paid and nonassessable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Upon the Future Authorization and Issuance of shares of Preferred Stock, such shares of Preferred Stock will be validly issued, fully paid and nonassessable.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">4.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Upon the Future Authorization and Issuance of Warrants, such Warrants will be valid and binding obligations of the Company, enforceable against the Company in accordance with their terms.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Upon the Future Authorization and Issuance of Units, such Units will be valid and binding obligations of the Company, enforceable against the Company in accordance with their terms.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The opinions expressed above are subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and other similar laws of general application affecting the rights and remedies
of creditors and to general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;We express no opinion herein as to the effect or applicability
of the laws of any jurisdiction other than the federal laws of the United States of America and the General Corporation Law of
the State of Delaware (including all applicable provisions of the Delaware constitution and reported judicial decisions interpreting
the General Corporation Law of the State of Delaware or the Delaware constitution). This opinion is limited to the laws referred
to above as in effect on the date hereof. We undertake no obligation to advise you as a result of developments occurring after
the date hereof or as a result of facts or circumstances brought to our attention after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the filing of this opinion as an exhibit
to the above-referenced Registration Statement and to the use of our name under the caption &ldquo;Legal Matters&rdquo; in the
Registration Statement and the prospectus that forms a part thereof. In giving such consent, we do not hereby admit that we come
within the category of persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules and regulations
of the Commission promulgated thereunder or Item&nbsp;509 of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 330.45pt; text-indent: -12.25pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">/s/ BURNS &amp; LEVINSON LLP </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 330.45pt; text-indent: -12.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Harvard Bioscience, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 30, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<HR NOSHADE SIZE="4" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>exh_232.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 123pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">We have issued our reports dated March 16, 2018 with respect to
the consolidated financial statements and internal control over financial reporting of Harvard Bioscience, Inc. included in the
Annual Report on Form 10-K for the year ended December 31, 2017, which are incorporated by reference in this Registration Statement.
We consent to the incorporation by reference of the aforementioned reports in this Registration Statement, and to the use of our
name as it appears under the caption &ldquo;Experts.&rdquo;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">/s/ GRANT THORNTON LLP</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Boston, Massachusetts</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">April 30, 2018</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.3
<SEQUENCE>4
<FILENAME>exh_233.htm
<DESCRIPTION>EXHIBIT 23.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;23.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Consent of Independent Registered Public
Accounting Firm</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Board of Directors<BR>
Harvard Bioscience, Inc.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the use of our report dated March&nbsp;16, 2017,
with respect to the consolidated balance sheets of Harvard Bioscience, Inc. and subsidiaries as of December&nbsp;31, 2016 and 2015,
and the related consolidated statements of operations, comprehensive (loss) income, stockholders&rsquo; equity and cash flows for
each of the years in the two-year period ended December&nbsp;31, 2016, incorporated herein by reference and to the reference to
our firm under the heading &ldquo;Experts&rdquo; in the prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ KPMG LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Cambridge, Massachusetts<BR>
April 30, 2018&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.4
<SEQUENCE>5
<FILENAME>exh_234.htm
<DESCRIPTION>EXHIBIT 23.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;23.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Auditor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the incorporation by reference in this Registration
Statement on Form S-3 of Harvard Bioscience, Inc. of our report dated October 4, 2017, except for the matters discussed in Notes
11 and 12 as to which the date is April 17, 2018, relating to the consolidated financial statements of Data Sciences International,
Inc. and Subsidiaries, appearing in the Current Report on Form 8-K/A filed by Harvard Bioscience, Inc. on April 17, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ RSM US LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Minneapolis, MN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 30, 2018</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>logo.jpg
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
