<p>HOPKINTON, Mass., Feb. 28, 2014 /PRNewswire/ -- Olympus Corporation announced today that it plans to discontinue operations for its U.S. biotechnology division, Olympus Biotech.</p><p>The company expects the entire closure process to take some time to complete and it will start with the Hopkinton, MA facility. Commercial operations and product availability will end May 30, 2014 in the United States and Canada .</p><p>"This was a very difficult decision and was made only after numerous alternatives for business continuation were identified and exhausted over the past year, "said David Renker, Chief Operating Officer for Olympus Biotech. He added, "This decision was a financial one and is not related to the performance of our OP-1 family of products. We are proud of OP-1's legacy in the market and its significant contributions to regenerative medicine and the quality of life in patients worldwide. In addition, we are grateful to our employees for the incredible support they have shown our biotech business throughout its history and thank them for their dedication to the business and our mission."</p><p>Successfully navigating the highly regulated biotech industry and commercializing innovative biologics products requires significant investment. Despite the Company's best efforts and intentions, Olympus Corporation was not able to gain the traction necessary to build a broader regenerative medicine portfolio in the United States. More than 200 employees will be impacted by the closure.</p><p><a href="http://www.marketwatch.com/story/paulson-co-will-vote-against-the-metropcs-merger-as-currently-structured-2013-02-28?reflink=MW_news_stmp">Keep reading...</a></p>