West Bridgewater, MA, June 28, 2007 – Pressure BioSciences, Inc. (NASDAQ: PBIO) (“PBI”) today announced that it has placed an order for 40 Barocycler NEP2320 units with Source Scientific, LLC, the manufacturer of the Company’s PCT equipment and disposables product line. The NEP2320 is the new, patent-pending, lightweight, compressed air-driven pressure cycling instrument that the Company unveiled last month at the BIO2007 International Convention in Boston, MA.
The Barocycler NEP2320 is a smaller, more compact version of the Company’s existing Barocycler instrument, the NEP3229. It has a similar “look and feel” to the NEP3229, but offers a system weight of approximately 75 verses 350 pounds, and processes one sample at a time verses three for the NEP3229. Originally designed to be a demonstration unit for the larger and higher throughput NEP3229, the Company announced the decision to release the NEP2320 as a new product offering after market research suggested that there may be a niche in genomics and proteomics research laboratories for a Barocycler instrument with a lower sample throughput and a lower price, but with many of the technical capabilities of the higher throughput Barocycler NEP3229.
Dr. Nate Lawrence, Vice President of Marketing and Sales for PBI, said: “The past six weeks have helped confirm our market research that there may be a demand for the smaller, lighter, more compact NEP2320. We have seen interest from a number of places, including laboratories with multiple sites, laboratories with limited space, laboratories with low sample throughput volumes that don’t require the larger NEP3229, and laboratories with budgetary constraints. These market data have us more convinced than ever that there is a true and growing need for the NEP2320 in a variety of life sciences laboratories.”
Richard T. Schumacher, Founder, President, and CEO of PBI said: “We expect the first of the 40 instruments under this new purchase order to be delivered near the end of September or early October, 2007. Approximately 20 units are expected to be delivered prior to December 31, 2007, with the remaining units being delivered during the first quarter of 2008. A minimum of 10 of the units will be configured for European electrical requirements, as we continue to prepare for the 2008 European launch of our PCT product line, as previously announced.”
Schumacher continued: “This new purchase order is in addition to our initial and previously announced purchase order for nine NEP2320 demonstration instruments. The delivery of the first two of these initial nine NEP2320 instruments has recently allowed our sales staff to demonstrate the NEP2320 at potential customer sites, a significant milestone. We continue to actively build a solid, well-seasoned, well-trained sales force. We believe that the 40 NEP3229 instruments ordered in March, plus the nine initially ordered NEP2320 demonstration instruments and the 40 additional NEP2320 instruments under this new purchase order will give us the inventory we need to follow-up aggressively during 2007 and into 2008 on the large number of leads that have been generated over the past half year.”
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 U.S. 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.
About Southern California Investment Association:
SCIA National Small Cap Syndicate is a comprehensive national organization developed to facilitate stock support and capital formation for small and emerging-growth companies. The alliance consists of almost 200 influential member firms plus associates including NASD broker/dealers, bankers, investment advisors, analysts, market makers, venture capitalists, fund managers, media and accredited investors. The syndicate provides equity and debt financing, institutional and retail stock support, market making, and mergers and more. See http://www.sciaonline.org.
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 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, the 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
Visit us at our website http://www.pressurebiosciences.com
CONTACT:
Pressure BioSciences, Inc.
Investor Contacts:
Richard T. Schumacher, President & CEO
Edward H. Myles, Sr. Vice President of Finance & CFO
(508) 580-1818