FOR
IMMEDIATE RELEASE
Investor
Contacts:
|
|
Richard
T. Schumacher, President & CEO
|
Pressure
BioSciences, Inc.,nc.
|
Edward
H. Myles, Vice President of Finance & CFO
|
(508)
580-1818 (T) (T)
|
Pressure
BioSciences, Inc. Announces Stock Repurchase Program
Company
Purchases 106,600 Shares from Former Distributor
West
Bridgewater, MA, September 25, 2006 - Pressure BioSciences, Inc. (NASDAQ: PBIO)
today announced that its Board of Directors has authorized the Company to
repurchase up to $500,000 of its outstanding common stock on the open market
or
in privately negotiated transactions. The timing and amount of share
repurchases, if any, will depend on a number of factors, including market and
business conditions. The repurchases may be commenced or suspended at any time
without prior notice and without further announcement. The Company also
announced that pursuant to this authorization it purchased 106,600 shares of
its
common stock at $2.88 per share from Kyowa Medex Company Ltd., the Japanese
distributor of the Company’s legacy business Boston Biomedica, Inc.
About
Pressure BioSciences, Inc.
Pressure
BioSciences, Inc. (PBI) is a publicly traded, early-stage 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 US and 5 foreign patents covering multiple applications
of
PCT in the life sciences field, including such areas as genomic and proteomic
sample preparation, pathogen inactivation, the control of enzymes,
immunodiagnostics, and protein purification.
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 Company’s
intention to repurchase shares of its common stock from time to time under
its
stock repurchase program. 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,
changes in stock market conditions or in the Company’s business as a result of
which the Company may change or terminate its stock repurchases, and the other
risks and uncertainties discussed under the heading "Risk Factors" in the
Company’s Quarterly Report on Form 10-QSB for the quarter ended June 30, 2006,
in the Company’s Annual Report on Form 10-KSB, as amended, 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