WEST BRIDGEWATER, Mass.--(BUSINESS WIRE)--Feb. 8, 2006--Pressure BioSciences, Inc. (NASDAQ: PBIO) today announced that it has entered into a research and development agreement with the University of New Hampshire (Durham, NH) focused on the Company's patented and novel Pressure Cycling Technology (PCT). The cost of the contract is $157,850, the contract period runs from February 1 to December 31, 2006, and the Principal Investigator is Dr. Thomas Moody, affiliate assistant professor at UNH.
Dr. Moody and his associates will direct their efforts in the following five areas: (1) improvements in the design and functionality of the Company's patent-pending, single-use PULSE Tubes, (2) reduction in the weight and size of the Company's current bench top Barocycler NEP3229 instrument, (3) assistance in the development of a compact, lightweight, and portable Barocycler "field" unit, (4) further investigation of the mechanisms of action of the PCT process, and (5) the generation, presentation, and publication of data relating to the extraction of nucleic acids, proteins, and small molecules by PCT from a wide variety of difficult specimens currently being studied by a number of scientists on the UNH campus.
Dr. William Trumble, Dean of UNH's College of Life Sciences and Agriculture, commented: "Over the past several years, our scientists and those at PBI have successfully collaborated in several exciting projects in which PCT has played a valuable role in helping investigators generate new and important data in their areas of interest, including the fields of microbiology and cancer. Although successful to date, much remains to be accomplished with this very powerful and exciting technology. We are pleased that PBI has offered to formalize this relationship, and we look forward to making measured progress in pursuit of the five specific aims of the contract."
Richard T. Schumacher, Founder, President, and CEO of Pressure BioSciences, said: "We recognize the efforts and success of our colleagues at UNH, and applaud the enthusiasm by which they have embraced this new PCT technology. Their work, which we expect will be presented at scientific meetings and published in peer-reviewed journals during 2006 and beyond, will help other researchers in the life sciences field begin to understand the wide-ranging capabilities and power of PCT."
Mr. Schumacher also noted that in a separate development UNH had purchased the Barocycler NEP3229 bench top sample preparation system that had been leased by the university in November 2005.
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (PBI), formerly known as Boston Biomedica, Inc., is a publicly traded, early-stage company focused on the development of a novel 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 4 foreign patents covering multiple applications of PCT in the life sciences field, including in such areas as genomic and proteomic sample preparation, pathogen inactivation, 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, including statements relating to the anticipated benefits and results from the research and development services provided by UNH. 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: UNH's ability to successfully complete the aims of the contract; uncertainties inherent in the development of new products, including the Company's new Bench Top PCT instrument, including technical risks, cost overruns, and manufacturing and other delays; the risk that newly introduced products may contain undetected errors or defects or otherwise not perform as anticipated; the risk that Company's products will not achieve market acceptance; the risk that the Company will not be able to increase demand or sales for its products; and the other risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2004 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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CONTACT: Investors:
Pressure BioSciences, Inc.
Richard T. Schumacher or R. Wayne Fritzsche, 508-580-1818
SOURCE: Pressure BioSciences, Inc.