EXHIBIT
5.01
LEGAL
OPINION OF PEPPER HAMILTON LLP
November
14, 2008
Pressure
BioSciences, Inc.
14
Norfolk Avenue
South
Easton, MA 02375
RE: Pressure
BioSciences, Inc. Registration Statement on Form S-8
Ladies
and Gentlemen:
We
are
general counsel to Pressure BioSciences, Inc., a Massachusetts corporation
(the
“Company”). We have been asked to deliver this opinion in connection with the
preparation and filing with the Securities and Exchange Commission under the
Securities Act of 1933, as amended, of a Registration Statement on Form S-8
(the
“Registration Statement”) relating to 500,000 shares of the Company’s Common
Stock, $.01 par value (the “Shares”), and 500,000 preferred share purchase
rights (the “Rights”).
The
Shares are issuable pursuant to awards granted under the Company’s 2005 Equity
Incentive Plan, as amended (the “2005 Plan”). The 500,000 Rights being
registered pursuant to the Registration Statement represent one Right that
may
be issued in connection with each of the Shares issuable under the 2005
Plan.
In
connection with this opinion, we have examined the following documents
(collectively, the “Documents”):
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1.
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a
copy of the Restated Articles of Incorporation, as amended, of the
Company
as in effect on the date hereof;
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2.
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a
copy of the Amended and Restated Bylaws of the Company, as amended
and in
effect on the date hereof;
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3.
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a
Secretary’s Certificate certifying certain proceedings of stockholders and
directors of the Company;
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5.
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the
Rights Agreement dated February 27, 2003 between the Company and
Computershare Trust Company, Inc. (“Computershare”), as amended by
Amendment No. 1 to the Rights Agreement dated April 16, 2004 between
the
Company and Computershare (the “Rights Agreement”);
and
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6. |
the
Registration Statement.
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For
purposes of this opinion, we have assumed without any investigation: (1) the
legal capacity of each natural person; (2) the genuineness of each signature;
(3) the completeness of each document submitted to us as an original and the
conformity with the original of each document submitted to us as a copy; and
(4)
the completeness, accuracy and proper indexing of all governmental
records.
We
have
not, except as specifically noted herein, made any independent review or
investigation of orders, judgments, rules or other regulations or decrees by
which the Company or any of its property may be bound. Nor have we made any
independent investigation as to the existence of actions, suits, investigations
or proceedings, if any, pending or threatened against the
Company.
Our
opinions contained herein are limited to the laws of the Commonwealth of
Massachusetts, including
the statutory provisions, and reported judicial decisions interpreting these
laws, and the federal law of the United States of America.
Our
opinions hereafter expressed are based solely upon: (1) our review of the
Documents; (2) discussions with those of our attorneys who have devoted
substantive attention to the matters contained herein; and (3) such review
of
published sources of law as we have deemed necessary.
Based
upon and subject to the foregoing, we are of the opinion that (i) the Shares
have been duly authorized and, when issued in accordance with the terms and
conditions of the 2005 Plan, will be validly issued, fully paid and
nonassessable and (ii) the Rights have been duly authorized and, when issued
in
accordance with the terms and conditions of the Rights Agreement and with the
terms and conditions of the 2005 Plan, will be validly issued, fully paid and
nonassessable.
We
hereby
consent to the filing of this opinion as Exhibit 5.01 to the Registration
Statement and to the reference to our firm wherever it appears in the
Registration Statement.
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Very
truly yours,
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/s/ Pepper
Hamilton LLP
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