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SOURCE Pressure BioSciences, Inc.
Company Believes It Met Every Key Objective for Its Product Launch, Reiterates Expectation to Secure One or More Strategic Marketing/Sales Partners by Year's End, and Reaffirms Guidance for Sales of Its New PCT Microplate Strip System to Begin in the 2H 2014
SOUTH EASTON, Mass., June 23, 2014 /PRNewswire/ -- On June 12, 2014, Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company") announced the planned launch of their much anticipated, high throughput pressure cycling technology ("PCT")-based system at the 62nd conference of the American Society for Mass Spectrometry ("ASMS"). The ASMS Conference was held June 15-19, 2014 in Baltimore, MD.
The Company today announced the successful completion of the Barozyme HT48 product launch. Based on interactions with customers, researchers, investors, competitors, and vendors, the Company has reiterated its expectation to secure one or more strategic marketing/sales partners prior to year-end. The Company also believes that sales of the new PCT system will begin in the second half of 2014.
The bench-top Barozyme HT48 is a first-in-class, high throughput, PCT-based instrument, with an initial application for the enhanced preparation of proteins for mass spectrometry analysis. The PCT system is capable of processing up to 48 samples simultaneously using the Company's new and proprietary BaroFlex 8-well processing strips. The BaroFlex strips were designed and manufactured to the industry-standard microplate format, which the Company believes will allow the new Barozyme HT48 system to integrate well with the standardized liquid handling robotic and analytical systems installed in tens of thousands of biological research laboratories worldwide.
Dr. Winston Patrick Kuo, Chief Operating Officer of IES Diagnostics (an early stage biotechnology company with a special focus in systemic lupus erythematosus) and former Assistant Professor and Director of Harvard Catalyst – Laboratory for Innovative Translational Technologies ("LITT"), Harvard Medical School, said: "While directing Harvard LITT, I evaluated many cutting-edge instruments for protein, lipid, and nucleic acid analysis. It became quickly apparent that the quality of the final result was critically dependent on the quality of the preparation of sample being analyzed. To that end, PCT-based systems were always among our top sample preparation methods of choice because of their many key advantages. With the new Barozyme HT48's ability to integrate with the automated, high throughput liquid handling robotic systems used by many analytical instruments today, I believe PCT has hit an inflection point and will soon become a method of choice in significantly more laboratories worldwide."
Dr. Robert Bondaryk, Chief Executive Officer of KeraFAST, Inc. (a supplier of new, rare, and unique materials, reagents, and tools to an interconnected community of researchers worldwide), said: "Having held senior positions in life sciences laboratories for over 25 years, including Fisher Scientific and Cogenics, I developed a very strong appreciation for the critical importance of sample preparation. It is exciting to see the key advantages of PCT available in the universally accepted microplate strip format. In my opinion, the Barozyme HT48 is a breakthrough solution for the automation of sample preparation."
Mr. Richard T. Schumacher, President and CEO, said: "It is reassuring to have industry experts like Dr. Kuo and Dr. Bondaryk strongly support the Barozyme HT48. It is also reassuring to have over a dozen current customers already ask to evaluate the new PCT system, and nearly a dozen non-customers request to do the same. We expect to install the Barozyme HT48 in the laboratories of several potential strategic marketing/sales partners in the coming months. We believe that there may never have been a better time to be a stakeholder in PBI."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. ("PBI") (OTCQB: PBIO) develops, markets, and sells proprietary laboratory instrumentation and associated consumables to the estimated $6 billion life sciences sample preparation market. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions. To date, we have installed over 250 PCT systems in approximately 160 sites worldwide. There are over 100 publications citing the advantages of the PCT platform over competitive methods, many from key opinion leaders. Our primary application development and sales efforts are in the biomarker discovery and forensics areas. Customers also use our products in other areas, such as drug discovery & design, bio-therapeutics characterization, soil & plant biology, vaccine development, histology, and counter-bioterror applications.
Forward Looking Statements
Statements contained in this press release regarding PBI's intentions, hopes, beliefs, expectations, or predictions of the future are "forward-looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon the Company's current expectations, forecasts, and assumptions that are subject to risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those indicated by these forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, and other reports filed by the Company from time to time with the SEC. The Company undertakes no obligation to update any of the information included in this release, except as otherwise required by law.
For more information about PBI and this press release, please click on the following website link: http://www.pressurebiosciences.com
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Richard T. Schumacher, President and CEO (508) 230-1828 (T)
Nathan P. Lawrence, Vice President, Marketing and Sales
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