SOUTH EASTON, Mass., Feb. 7, 2011 (GLOBE NEWSWIRE) -- Pressure BioSciences, Inc. (Nasdaq:PBIO) ("PBI" and the "Company") today announced that it has unveiled four key instruments in its 2011-2013 product pipeline at the annual meeting of the Association for Mass Spectrometry Applications to the Clinical Lab (MSACL). Attended by physicians, scientists, and other healthcare professionals, MSACL is an active and influential supporter of the development of new mass spectrometry applications for clinical medicine, including tests for the diagnosis, treatment, and prognosis of clinical disorders. Every major mass spectrometry manufacturer in the U.S. is expected to attend this year's meeting.
The four key instruments unveiled at MSACL represent an important addition to the Company's existing pressure cycling technology (PCT) platform. The Company believes that these new products will make a significant impact in the way that research scientists prepare their samples for analysis, particularly scientists working in the estimated $2 billion mass spectrometry market (based upon the findings of the Emmes Group, April 2008). To that end, the Company believes that proof-of-concept has been demonstrated. Data has also been generated and patents have been filed on these very exciting new products, which include:
- Barocycler HUB440. A manual or computer controlled, compact, portable, and versatile high pressure generator for multiple bioscience applications. Estimated release: Q3 2011.
- Barocycler FFPE Protein Extraction Service. A service offering the enhanced extraction of proteins from formalin-fixed, paraffin-embedded (FFPE) samples using a modified Barocycler instrument that combines the advantages of pressure cycling, high temperature, and certain reagents. Estimated release: 2012.
- XstreamPCT™ HPLC Digestion Module. For automated, in-line, on-demand PCT-enhanced protein digestion; the first module in PBI's PCT-based HPLC platform. Estimated release: 2013.
- Barocycler HT Multiwell (48-384). For high throughput, PCT-enhanced biomolecule extraction/accelerated enzymatic digestion; process 48 - 384 samples. Estimated release: 2013.
In addition, ten presentations related to the Company's current PCT-based Barocycler product line are scheduled to be presented at the meeting. These presentations are expected to highlight the advantages of PBI's current products when used in research related to mitochondria (Dr. V. Gross, PBI), cancer (Dr. P. Pevsner, U of MS, and Dr. L. Schneider, Target Discovery), and Klotho (Dr. T. Rezai, Thermo Fisher), a potential biomarker for a number of significant human disorders, including chronic renal disease, osteoporosis, and Alzheimer's disease.
Mr. Richard T. Schumacher, President and CEO of PBI, said: "We plan on becoming a major supplier of sample preparation instruments and consumables to the large and growing mass spectrometry market. We believe that the four new instruments just unveiled will offer key advantages to current products in this area. Consequently, we will focus significant resources to help ensure the remaining development and subsequent release of these products will proceed as efficiently and rapidly as possible."
Mr. Schumacher concluded: "We also plan to grow our in-house sales and marketing capabilities and staff, and to find strategic partners to help us rapidly take advantage of this opportunity. This was a compelling reason to unveil the key instruments in our 2011-2013 product pipeline this week at MSACL – to enable us to openly disclose and discuss these instruments with major vendors in the mass spectrometry field, as they are unaware of the significant progress that we have made in this area."
About Pressure BioSciences
Pressure BioSciences, Inc. (PBI) is a NASDAQ Capital Markets listed company focused on the development and sale of instrumentation and consumables based on a novel, enabling technology platform called Pressure Cycling Technology (PCT). PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels (up to 35,000 psi and greater) to control bio-molecular interactions. PBI currently holds 24 issued patents covering multiple applications of PCT in the life sciences field, including genomic and proteomic sample preparation, pathogen inactivation, the control of chemical reactions, immunodiagnostics, and protein purification. PBI currently focuses its efforts on the development and sale of PCT-enhanced enzymatic digestion products designed specifically for the mass spectrometry marketplace, as well as sample preparation products for biomarker discovery, soil and plant biology, forensics, histology, and counter-bioterror applications.
Forward Looking Statements
Statements contained in this press release regarding the Company'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. Such forward-looking statements include statements regarding the use, capabilities, and benefits of the Company's PCT-based products and services for the preparation of samples for the mass spectrometry market and other applications; that the ten presentations at the MSACL 2011 meeting will highlight the advantages of PCT; that the four key instruments in the PBI product pipeline for 2011-2013 represent an important addition to the Company's PCT platform, and that they will make a significant impact on the way scientists prepare samples for analysis; that the Company will be successful in completing development of the four new instruments and that such development and commercial release will be within the Company's projected schedule; that the four new instruments, when released, will be commercially successful; that mass spectrometry is a $2 billion market; that proof-of-concept has been demonstrated for the four key instruments; that the Company will be able to grow its in-house sales and marketing capabilities and will find strategic partners; and that the indication of interest shown thus far implies that the Company has an exciting future ahead of it. 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: possible difficulties or delays in the implementation of the Company's strategies that may adversely affect the Company's continued commercialization of PCT and its PCT dependent products, including the further development and commercial release of the four key instruments in the Company's 2011-2013 product pipeline; unexpected scientific and technical challenges may delay or prevent the completion of development of the four new instruments; changes in customers' needs and technological innovations; the Company's sales force may not be successful in selling the Company's PCT product line and the Company may be unable to secure strategic partners because scientists may not achieve the same results using PCT as reported by the Company and may not perceive the advantages of PCT over other sample preparation methods, including the mass spectrometry area; and the Company will require additional working capital to fund its operations beyond the first quarter of 2011, and there can be no assurance that the Company will be successful in obtaining such financing on acceptable terms, if at all. Additional risks and uncertainties that could cause actual results to differ materially from those indicated by these forward-looking statements are discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, and other reports filed by the Company periodically 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 please visit http://www.pressurebiosciences.com or the PBI-IR Newsroom:
http://pressurebio.irnewsroom.com/social-media-releases/item/50-pressure-biosciences-inc-unveils-four-key-instruments-in-its-2011-2013-pct-product-pipeline