Pressure BioSciences, Inc. Well Positioned to Play Important Role in US's $1.8 Billion "Cancer Moonshot" Initiative
Bill Signed Into Law Earlier this Week Offers the Potential to Completely Transform Cancer Research
SOUTH EASTON, MA -- (Marketwired) -- 12/16/16 -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" and the "Company"), a leader in the development and sale of broadly enabling pressure cycling technology ("PCT")-based sample preparation solutions to the large and growing worldwide life sciences industry, today discussed the potential impact on the Company of the $6.3 billion "21st Century Cures Act" that was signed into law earlier this week. The bill contains $1.8 billion earmarked specifically for cancer research (the "Cancer Moonshot" initiative). The Company's PCT sample preparation system is already being featured as an essential technology and used by leading researchers participating in the Cancer Moonshot and other important research programs.
This program aims to accelerate cancer research and support other avenues that will improve the ability to understand, prevent, detect, treat, and even cure cancer. Its goal is to try and achieve in the next five years what would normally take ten years to complete. This will be achieved in part by increasing the number of cancer researchers and studies, increasing the sharing of samples and data among these researchers, and by offering cancer researchers access to 21st century, cutting-edge laboratory tools (instruments, consumables, etc.) that will enhance and improve their research studies.
Dr. Nate Lawrence, Vice President of Marketing and Sales at PBI, said: "We believe strongly that discovery starts with sample preparation. Consequently, it is critical that cancer researchers have access to cutting-edge instruments, consumables, and other products that will give them the best chance of success, by giving them the best-in-class method or methods to prepare their samples prior to testing."
Dr. Lawrence continued: "Several months ago, we announced the development and commercial release of our next-generation Barocycler instrument. This instrument was designed specifically with the scientific research community in mind. We announced at the time that the first three commercially available PCT systems were purchased by the Children's Medical Research Institute ("CMRI") in Sydney Australia, to be used in the study of as many as 70,000 tumor samples over seven years. CMRI is an official collaborating site to the Cancer Moonshot."
Dr. Lawrence concluded: "We believe that, in many cases, the use of our PCT Sample Preparation System in protein analysis results in higher quality research data when compared to sample preparation with current technologies. This should result in a greater opportunity for discovery, which is one of the most important goals of the Cancer Moonshot initiative."
Mr. Richard T. Schumacher, President and CEO of PBI, said: "We believe the Cancer Moonshot initiative has the potential to completely transform cancer research. We believe our PCT platform will play a critical role in this regard. In an effort to take advantage of this opportunity, we have already taken action to expand our manufacturing and supply capacity, to expand our sales and marketing capabilities, to increase our collaborative programs with key opinion leaders worldwide, and to enhance our PCT platform applications and support. This is a terrific opportunity for PBI and we are completely focused on taking full advantage of it."
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 260 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 forensic 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, 2015, 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 & CEO
(508) 230-1828 (T)
Jeffrey N. Peterson
Chairman
(650) 812-8121 (T)
Source: Pressure BioSciences, Inc.
Released December 16, 2016