Pressure BioSciences, Inc. and KeraFAST LLC Sign Worldwide E-Commerce Distribution Deal
SOUTH EASTON, Mass., May 3, 2011 (GLOBE NEWSWIRE) -- Pressure BioSciences, Inc. (Nasdaq:PBIO) ("PBI" and the "Company") and KeraFAST LLC ("KeraFAST") today announced that they have entered into a non-exclusive, worldwide distribution agreement (the "Agreement") covering several of the Company's new sample preparation products. These products include the recently released The SHREDDER SG3 Extraction System; the novel MicroTube, MicroCap, and PCT Shredder sample processing tubes; and proprietary kits for the preparation of samples for DNA, RNA, protein, and lipid analysis.
KeraFAST is a leading vendor of life sciences tools in the rapidly growing area of research products distribution through e-commerce channels. Dr. Robert Bondaryk, Chief Operating Officer of KeraFAST, said: "Biological research laboratories must routinely prepare their samples prior to analysis. Such preparation can be complex, error-prone, time-consuming, and fraught with difficulties. Consequently, there is a large and growing need in the tens of thousands of research laboratories worldwide for high quality, affordable and easy-to-use sample preparation tools."
Dr. Bondaryk continued: "We are impressed with the quality, breadth, and uniqueness of PBI's sample preparation products, the caliber of their customer base, and their prospects for continued growth. With our broad, rapidly growing, global e-commerce distribution channels, we believe we can help PBI increase their sample preparation market share significantly in a quick and cost-effect manner."
Dr. Nate Lawrence, Vice President of Marketing for PBI, commented: "KeraFAST offers a wide assortment of innovative tools, reagents, and other solutions to life sciences researchers. We are delighted that their product offerings will now include several of our key sample preparation products. KeraFAST has developed a successful marketing approach using the power and tremendous reach of e-commerce, which we believe combines well with our traditional marketing approach. Together, our combined marketing activities should bring greater visibility to PBI and to our sample preparation products, which we believe will result in increased revenue for PBI."
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 worldwide research market; the distribution of research products through e-commerce is a rapidly growing channel; that the preparation of samples can be complex, error-prone, time-consuming, and fraught with difficulties; that there is a large and growing need in tens of thousands of labs for high quality, affordable, and easy to use sample preparation tools; that KeraFAST can help PBI increase its sample preparation market share significantly, in a quick and cost-effective manner; that KeraFAST has a successful e-commerce marketing approach; and that the combined marketing approaches of KeraFAST and PBI should bring greater visibility and increase revenue to PBI. 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, and the Company's distribution plan with KeraFAST, that may adversely affect the Company's continued commercialization of PCT and its PCT dependent products; changes in customers' needs and technological innovations; the Company's sales force combined with KeraFAST's e-commerce distribution channel may not be successful in selling the Company's PCT product line 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; and the Company will require additional working capital to fund its operations beyond June 30, 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, 2010, 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 our websites at
http://www.pressurebiosciences.com
CONTACT: Investor Contacts:
Richard T. Schumacher, President and CEO
(508) 230-1828 (T)
R. Wayne Fritzsche, Chairman
Source: Pressure BioSciences, Inc.
Released May 3, 2011