WEST BRIDGEWATER, Mass.--(BUSINESS WIRE)--Oct. 4, 2006--Pressure BioSciences, Inc. (NASDAQ: PBIO) today announced that it has been awarded a Phase I Small Business Innovation Research (SBIR) Grant from the National Institutes of Health (NIH). The Grant will help to fund experiments to demonstrate the feasibility of using the Company's patented Pressure Cycling Technology (PCT) in the development of a novel method for the extraction of clinically important protein biomarkers, sub-cellular molecular complexes, and organelles from cells and tissues. The SBIR Grant is for a total of $149,470 over six months.
Improvements in extraction methods are needed to better analyze the human proteome, which comprises all the proteins within the human body. A greater understanding of the proteome is expected to lead to significant improvements in disease prevention, diagnosis, and treatment. The Company believes that its PCT Sample Preparation System (PCT SPS) will provide significant improvements in the versatility, accuracy, and reproducibility of proteomic sample preparation when compared to presently available methods. The Company also expects that, compared to currently available methods, its PCT SPS will better enable the enrichment of low-abundance biomolecules that may be essential for developing a greater understanding of disease states in humans.
Richard T. Schumacher, President and CEO of Pressure BioSciences, Inc. said, "Data generated in our laboratories, and in the laboratories of collaborators, indicate that PCT can be a powerful new tool for discovery in the extraction of proteins and molecular complexes. The unique mechanisms of PCT, concomitant with the features of our PCT Sample Preparation System (PCT SPS), have generated evidence of increased protein yield and the potential for extracting intact sub-cellular components in a safer and more reproducible manner than other extraction methods in use today. This SBIR Grant will supplement the funds that we have already budgeted for this important project, thus allowing us to increase our efforts in this exciting endeavor."
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 feasibility of the Company's PCT technology in the development of a novel method for the extraction of clinically important proteins and molecular complexes from cells and tissues, the need for improvements in protein extraction methods, and the effect of a greater understanding of the proteome on disease prevention, diagnosis, and treatment. 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, unforeseen technological difficulties that the Company may encounter in the development of the PCT technology and the PCT SPS, the possibility that the Company's experiments may not demonstrate the continued effective use of PCT in the extraction of proteins and molecular complexes from cells and tissues, the possibility that the Company's PCT technology and PCT SPS may not be accepted by the commercial market as a needed improvement over current extraction methods, 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.
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CONTACT: Pressure BioSciences, Inc.
Richard T. Schumacher, President & CEO
Edward H. Myles, Vice President of Finance & CFO
508-580-1818
SOURCE: Pressure BioSciences, Inc.