Pressure BioSciences, Inc. Provides Corporate Update
SOUTH EASTON, Mass., Feb. 12, 2010 (GLOBE NEWSWIRE) -- Pressure BioSciences, Inc. (Nasdaq:PBIO) ("PBI" and the "Company") today provided an update on various corporate activities, including (1) the national recognition of Pacific Northwest National Laboratory (PNNL) for its collaboration with PBI on the development of a rapid and reproducible method to prepare proteins for analysis, (2) the presentation of data that show a notable improvement in the yields of DNA from challenging forensic samples using the Company's patented pressure cycling technology ("PCT"), and (3) the presentation of data highlighting significant advantages of PCT over competitive methods in research studies involving human proteins.
1) Recognition of the PNNL -- PBI Collaboration. The rapid and accurate analysis of proteins allows for a better understanding of living systems, and for the intricate workings of these systems in health and disease. Continued improvement in this understanding is essential to the development of better diagnostics, disease prevention strategies, vaccines, and life-altering drugs. During 2009, PNNL and PBI scientists collaborated on the development of a PCT-based laboratory process to significantly reduce the time (from hours to minutes) to prepare proteins for scientific analysis, with the goal to offer a faster path to discovery. The Federal Laboratory Consortium recognized PNNL with a 2010 Excellence in Technology Transfer award for this collaborative work with PBI.
2) Presentation of Forensic Data. Pam Marshall, M.S. of the University of North Texas (UNT) recently delivered a presentation at the Winter Meeting of the Association of Forensic DNA Analysts and Administrators in Austin, Texas. Ms. Marshall's work is a continuation of the study that was presented by Dr. Suzanne Gonzalez of the UNT Center for Human Identification in October 2009, at the annual International Symposium on Human Identification. The UNT data indicate that (a) PCT can be a viable alternative method for the extraction of DNA from forensic samples, (b) PCT can be used with current, commercially available extraction reagents, (c) PCT may result in increased amounts of DNA for analysis from difficult forensic samples, and (d) the potential benefits of using PCT include increased DNA yield, reduced processing time, cost reduction, and the elimination of hazardous reagents.
3) Presentation of Protein Data. Gary Smejkal, Affiliate Assistant Professor at the University of New Hampshire, delivered an oral presentation and two scientific posters at the recent Annual Meeting of the American Electrophoresis Society (AES) highlighting advantages of PCT. Data generated by Mr. Smejkal and colleagues indicated that the amount of protein extracted from the nitrogen-fixing actinobacteria Frankia with PCT was significantly greater than that with the standard French press technique. After extraction, the proteins were analyzed by two-dimensional gel electrophoresis (2DGE).
Mr. Smejkal said: "Sample preparation is critical to the success of 2DGE. As much as 90% of failures in 2DGE are related to poor sample preparation. PBI's PCT technology and their IEF reagent gave us consistent, reproducible results. Additionally, PCT extracted proteins from Frankia vesicles, which the French press and other currently available methods are unable to do. Consequently, PCT will allow scientists to characterize the protein constituency of these important Frankia organelles, which has been impossible to do until now."
Dr. Nate Lawrence, Vice President of Marketing for Pressure BioSciences, commented: "We believe that PNNL has one of the best mass spectrometry programs in the world, and that our collaboration with them will help us to develop new and improved pressure-based instruments, consumables, and processes for the mass spectrometry field, an area of primary focus for PBI in 2010. We also believe this collaboration should help drive sales of PCT Systems in the mass spectrometry field, help drive sales of PCT consumables, and help complete on-going discussions with potential mass spectrometry strategic partners."
Dr. Lawrence continued: "Our collaborators at UNT continue to generate and present what we believe to be strong, confirmatory data on the significant advantages of PCT in forensic sample analysis, a second area of focus for PBI in 2010. We have seen a significant increase in interest in PCT from the forensics field since the UNT collaboration began in mid-2009, and have recently installed several PCT Systems in important forensics laboratories. We believe that as the advantages of incorporating PCT into the forensics lab workflow become better understood and more widely known, that the sales of PCT Systems in the forensics area will increase measurably. We also believe that these data and our UNT collaboration will help complete on-going discussions with potential forensics strategic partners."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (PBI) is a publicly traded company focused on the development of a novel, enabling technology 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 13 U.S. and 6 foreign patents covering multiple applications of PCT in the life sciences field, including genomic and proteomic sample preparation, pathogen inactivation, the control of chemical (primarily enzymatic) reactions, immunodiagnostics, and protein purification. PBI currently focuses its efforts in 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 Pressure Cycling Technology Sample Preparation System (PCT SPS) for the extraction of DNA and proteins from challenging forensic samples, and from the model organism Frankia; that PCT offers advantages in the extraction of DNA and proteins over conventional extraction procedures, including benefits in quality, speed, cost, and safety; the potential for PCT to be a valuable tool for DNA typing; that the data generated by PNNL, UNT and UNH is both significant and compelling; that the analysis of proteins will lead to better diagnostics, therapies, strategies, and drugs; that the Company's collaborations will lead to new and improved pressure-based instruments, consumables and processes; and that the Company's collaborations and the dissemination of PCT data will result in increased sales of PCT products and advance the Company's discussions with potential strategic partners. 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; changes in customer's needs and technological innovations; other forensic, mass spec, and proteomic scientists may not achieve the same results with PCT reported by the scientists at UNT, PNNL, and UNH; and due to unforeseen costs or delays, the Company may require additional working capital to fund its operations before the beginning of 2011 the Company's sales force may not be successful in selling the Company's PCT product line because scientists may not perceive the advantages of PCT over other sample preparation methods, including in the investigative forensics and mass spectrometry areas; and due to unforeseen costs or delays, the Company may require additional working capital to fund its operations before the beginning of 2011. 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, 2008, 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.
Visit us at our website http://www.pressurebiosciences.com
CONTACT: Pressure BioSciences, Inc.
Investor Contacts:
Richard T. Schumacher, President & CEO
R. Wayne Fritzsche, Chairman
(508) 230-1828
Released February 12, 2010