WEST BRIDGEWATER, Mass.--(BUSINESS WIRE)--July 27, 2006--Pressure BioSciences, Inc. (NASDAQ: PBIO) today announced the signing of a three year lease agreement for the Barocycler NEP3229 Pressure Cycling Technology (PCT) Sample Preparation System (PCT SPS) with DermTech International (DermTech). DermTech, a privately-held biotechnology company located outside of San Diego California, specializes in the development and validation of molecular tests using specimens derived from the skin. It is expected that DermTech scientists will use Pressure BioSciences' patented PCT technology for the preparation of samples obtained with DermTech's proprietary Epidermal Genetic Information Retrieval (EGIR) technology. Studies using EGIR focus on tracking the treatment efficacy for both dermatologic and systemic conditions, as well as the diagnosis and prognosis of a variety of disease states.
Richard T. Schumacher, Founder, President, and CEO of PBI said: "We are excited that DermTech has decided to use the PCT SPS as the primary, front-end extraction method for recovering ribonucleic acid (RNA) from skin cells harvested via their proprietary EGIR platform. Pressure Cycling Technology is a powerful, enabling technology with potential uses in both basic and clinical research. This relationship is an excellent example of how PCT can be integrated into many downstream genomic and proteomic methods for both discovery and diagnostics purposes."
George B. Schwartz, President and CEO of DermTech International added: "We are actively pursuing the development of non-invasive methods for the diagnosis of early-stage melanoma and prostate cancer. To this end, we began evaluating PCT more than two years ago as a potential front-end method for extracting RNA from our proprietary skin tapes. We have found the PCT Sample Preparation System to be more reproducible than other sample preparation methods currently available. We believe that our EGIR technology has the potential to offer major advantages over current tests for the diagnosis of prostate cancer and early-stage melanoma, and look forward to a continued relationship with Pressure BioSciences as we work diligently to commercialize our technology platform."
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 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, the control of enzymes, immunodiagnostics, and protein purification.
About DermTech International
DermTech International is an emerging biotechnology company specializing in the development and validation of molecular tests using specimens derived from the skin. DermTech has developed a proprietary, non-invasive technique for sampling the surface layers of skin in order to generate individual genetic profiles for commercial applications in the clinical research and medical diagnostics fields.
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 PCT Sample Preparation System by DermTech International, and the expected uses of the PCT Sample Preparation System generally. 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: uncertainties inherent in the development of the PCT SPS, including technical risks, cost overruns, and manufacturing and other delays; the risk that the market will not recognize the advantages of the PCT SPS over other currently available extraction methods; the risk that DermTech International may not continue to use the PCT SPS as its primary, front-end extraction method, or that DermTech International may not continue any further relationship with the Company; 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 March 31, 2006, and 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.
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CONTACT: Pressure BioSciences, Inc.
Investors:
Richard T. Schumacher, 508-580-1818
President & CEO
or
Edward H. Myles, 508-580-1818
Vice President of Finance & CFO
SOURCE: Pressure BioSciences, Inc.