WEST BRIDGEWATER, Mass.--(BUSINESS WIRE)--Dec. 19, 2006--Pressure BioSciences, Inc. (NASDAQ: PBIO) today announced that it has installed a PCT Sample Preparation System (PCT SPS) at the Root Disease and Biological Control Research Unit, Agricultural Research Service (ARS), United States Department of Agriculture (USDA), Pullman, Washington, following the signing of a three year lease agreement for the PCT SPS. Under the terms of the lease agreement, the USDA-ARS will pay PBI a monthly fee, is expected to purchase a minimum number of processing containers (PULSE Tubes) each month, and has the right to purchase the instrument at any time during the three year lease term.
The USDA-ARS is expected to use the PCT SPS for a number of research applications, primarily in the detection and quantification of pathogenic microbes in plant roots and in soil. If successful, these studies could result in the development of improved management of soilborne pathogens for dry-land crops, such as wheat and canola, and in the development of crop plants with enhanced pathogen tolerance.
Richard T. Schumacher, Founder, President, and CEO of Pressure BioSciences, commented: "Over the past year, we have installed PCT Sample Preparation Systems at a number of important government agencies, including the FBI, the FDA, and the NIH. We are pleased to add the USDA to this prestigious list of PCT SPS users, and look forward to working with our colleagues at the USDA-ARS as they apply Pressure Cycling Technology to new and exciting areas of agricultural science."
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. These statements include the USDA-ARS' expected use of the PCT SPS and the possible results of the USDA-ARS studies using the PCT SPS. 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 and the USDA's experiments may not demonstrate an effective use of PCT in the extraction of nucleic acids from beneficial and pathogenic plant microbes, the possibility that the USDA may not continue a relationship with the Company after the lease agreement has terminated, the possibility that the Company's PCT technology may not be accepted by the commercial market as a method for use in agricultural studies, 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 September 30, 2006, in the Company's Annual Report on Form 10-KSB, as amended, for the year ended December 31, 2005, 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, 508-580-1818
President & CEO
or
Edward H. Myles, 508-580-1818
Vice President of Finance & CFO
SOURCE: Pressure BioSciences, Inc.