Bradford A. Young, Ph.D., MBA Joins Pressure BioSciences as Chief Commercial Officer
With Academic and Industry Experience Spanning 25 Years, Dr. Young Will Combine Exceptional Industry, Business, and Marketing Skills with Strong Technical and Leadership Experience to Help Drive Product Adoption and Accelerate Revenue Growth
SOUTH EASTON, MA / ACCESSWIRE / November 7, 2018 / Pressure BioSciences, Inc. (OTCQB: PBIO) (''PBI'' or the ''Company''), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide life sciences industry, today announced that Dr. Bradford A. Young has joined the Company as Sr. Vice President and Chief Commercial Officer (''CCO'') effective Monday, November 5, 2018. In this key new leadership position, Dr. Young is responsible for assessing multiple major new and divergent market opportunities, and for optimizing the commercialization priorities and strategy for the Company. Beyond strategic planning, Dr. Young will drive the execution of critical partnering and commercialization programs to build customer adoption and accelerate revenue growth.
Dr. Young said: ''I am excited to join Pressure BioSciences at a time when I can help to develop and then lead commercial strategies to expand the utility and market penetration of our patented, pressure-based technology platforms, through customer-focused efforts to drive adoption and sales expansion. It is highly motivating to join a company driven by such cutting-edge scientific innovations, already spanning multiple major application areas, and supported by a diverse array of products and services to multiple customer segments. I look forward to leading the company's commercialization and strategic partnership efforts in its highly-respected core area of pressure cycling technology (''PCT'') products, as well as its recently acquired PreEMT platform for improving the development of protein therapeutics. I am particularly excited to become part of PBI's team that is developing the Company's powerful new Ultra Shear Technology (''UST'') platform. I believe that UST can open up a vast range of market opportunities for nano-scale emulsions, including in the nutraceuticals (e.g., CBD oil), cosmetics, pharmaceuticals, and food industries. I consider myself very fortunate to be joining PBI at a pivotal point in its history, when I can contribute with their team to building what I believe can become a major new life sciences tools and services company.''
Prior to joining the Company, Dr. Young provided executive level consulting and leadership roles to biomedical technology, diagnostic and pharmaceutical companies for strategic planning, product development and commercialization. Dr. Young's background includes entrepreneurial experience as the Founder and CEO of AddisonField Corporation, a biotechnology company developing and commercializing consumer health products, and as Vice President of Business Development for Nodality, a pharmaceutical services company providing disease and drug profiling services in oncology and autoimmune diseases. Prior to Nodality, Dr. Young served as Director of Market and Business Development for Quest Diagnostics, a leading clinical reference laboratory, and as Head of Market Development for Celera, a pioneer in personalized medicine. Dr. Young serves on the Board of Directors of Liquid Biotech, Inc., a circulating tumor cell diagnostic company and on the Selection Committee for SPADA, the Stanford Predictives and Diagnostics Accelerator program. Dr. Young earned his Ph.D. from the University of Maryland, School of Medicine and his M.B.A. from the University of California, Berkeley, Haas School of Business.
Mr. Jeffrey N. Peterson, Chairman of the Board, commented: ''We are truly delighted to welcome Dr. Young into the leadership team for Pressure BioSciences. I have followed his contributions as a respected strategic thinker and leader in multiple settings across the life sciences industry for more than a decade. Brad combines the acumen, skills, experience, vision and character to deliver critical strengthening and rapid growth to PBI's trajectory. We view his addition to the senior leadership of PBI as a transformational opportunity, well positioned at an important inflection point in the Company's history.''
Mr. Richard T. Schumacher, President and CEO of PBI, added: ''I have had the pleasure of knowing Brad for many years, both personally and professionally. He is a natural leader, a tireless worker, a strategic thinker, and a team player. His technical skills are superb, and his business and commercialization skills have been honed and proven. He is a highly technical, industry and market expert with the abilities to optimize our revenue acceleration, by developing and implementing a commercialization strategy built on deep understanding of diverse life science customers and their needs. I very much look forward to working with such a driven, results-minded, highly-motivated new leader in our team.''
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences industry. 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 (e.g., cell lysis, biomolecule extraction). Our primary focus is in the development of high pressure-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, food science, soil & plant biology, forensics, and counter-bioterror applications. Additionally, PBIO is actively expanding the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired PreEMT technology from BaroFold, Inc. to allow entry into the biologics manufacturing and contract research services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology (''UST'') platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g., oils and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies.
Forward Looking Statements
This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," estimates," "predicts," "projects," "potential" or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. These and other factors may cause our actual results to differ materially from any forward-looking statement. 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, 2017, 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.
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FOR IMMEDIATE RELEASE
Richard T. Schumacher, President and CEO (508) 230-1828 (T)
Jeffrey N. Peterson, Chairman of the Board (650) 812-8121 (T)
SOURCE: Pressure BioSciences, Inc.
Released November 7, 2018