The Company Expects to Build and Ship Nine Instrument Systems for Evaluation between Mid-October and Late November. The Company Believes One or More Systems will be Purchased by the Evaluating Laboratories, Impacting Q4 2014 Revenue
SOUTH EASTON, Mass., - (http://www.financialnewsmedia.com News Alert) - Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company") today announced it has received and approved all parts required to build nine high throughput Barozyme HT48 instruments and has begun to manufacture the new PCT-based instrument system. The Company believes the first instrument will be ready for shipment by mid-October and that additional Barozyme instruments will be built and released at a rate of about one per week thereafter.
Dr. Nathan P. Lawrence, Vice President of Marketing and Sales, said: "the Barozyme HT48 was specifically designed for rapid, high quality enzymatic digestion of proteins, a universally important procedure conducted in thousands of laboratories worldwide. The ability of the Barozyme HT48 to process up to 48 samples simultaneously in a "microplate" format is a major improvement in the ergonomics of sample handling and a key step towards automation of PCT-based biological sample preparation. The new BaroFlex format of disposable sample containers in strips of eight processing wells not only lowers the total cost per sample processed by PCT but improves the sample handling and user experience. Lastly, the Barozyme HT48's flexible computer control was designed with GLP compliance in mind to meet specific demands of biopharmaceutical quality control and clinical proteomics."
Mr. Richard T. Schumacher, President and CEO, said: "With a growing list of potential customers and strategic partners interested in evaluating the Barozyme HT48, our number one priority over the past three months has been to focus on the manufacture of the initial build of instrument systems, with a target of having commercial-grade instruments and consumables available for evaluation by this fall. I am pleased to report that we are on schedule to meet that target."
Mr. Schumacher continued: "We gave guidance earlier this year to not expect the sale of Barozyme HT48 instruments in 2014. However, based on discussions with existing customers (such as one who asked to evaluate the Barozyme HT48 ASAP because the number of samples they routinely process by PCT "was exploding") we are changing that guidance. We now believe that the evaluation period required by some existing customers will be shorter than first thought, and that one or more existing customers will ask to purchase the instrument shortly after their evaluation concludes. Based on this and other indications, we continue to believe that the Barozyme HT48 system is a 'game-changer' for 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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Investor Contacts: Richard T. Schumacher, President and CEO Nathan P. Lawrence, Vice President, Marketing and Sales (508) 230-1828 (T)
SOURCE Pressure BioSciences, Inc.
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