WEST BRIDGEWATER, Mass.--(BUSINESS WIRE)--March 21, 2006--Pressure BioSciences, Inc. (NASDAQ:PBIO) today announced that it has sold a Bench Top (NEP3229) PCT Sample Preparation System ("PCT SPS") to the Federal Bureau of Investigation (FBI). It is the Company's belief that the use of the PCT SPS may enable FBI scientists to more safely, rapidly, and accurately process a wide range of sample types as they prepare them for further investigation and analysis.
Richard T. Schumacher, Founder, President, and CEO of Pressure BioSciences, commented: "Our scientists have spent a considerable amount of time over the past year investigating the use of PCT in the forensic sciences, particularly in the area of DNA extraction from bone fragments, blood, hair, and skin. These studies have indicated that the PCT SPS can offer a number of benefits over current methods, including increased safety, speed, and simplicity. Our research group has also shown that the PCT SPS can offer similar advantages in the area of anti-bioterrorism. We are pleased that the FBI has purchased a PCT SPS, and look forward to supporting them in all areas in which they decide to use the PCT Sample Preparation System."
About Pressure BioSciences, Inc.
Following the sale of substantially all the assets and selected liabilities of its BBI Diagnostics and BBI Biotech Divisions to SeraCare Life Sciences, Inc. on September 14, 2004, Boston Biomedica, Inc. changed its name to Pressure BioSciences, Inc (PBI). PBI 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 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, including statements relating to the expected use of the Bench Top PCT SPS by, and the anticipated benefits of the Bench Top PCT SPS to, the FBI or to other groups in the forensics, anti-bioterrorism, and other fields. 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: fluctuations in the Company's financial and operating results, which could adversely affect the Company's cash flow; 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 the 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; the risk that the Company will face adverse changes in the Company's liquidity and capital resources; the risk that the Company will be unable to attract and retain qualified personnel; declines in the market price of the Company's common stock; declines in the market price of Panacos Pharmaceuticals common stock; the risk that the Company's shares of Panacos Pharmaceuticals common stock held in escrow may not be released to the Company in September 2006; the risk that loans from the Company may not be repaid; changes in the capital markets; competition; general and industry-specific economic conditions; 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:
Pressure BioSciences, Inc.
Investors:
Richard T. Schumacher, 508-580-1818
R. Wayne Fritzsche, 508-580-1818