SOUTH EASTON, Mass., March 11 /PRNewswire-FirstCall/ -- Pressure BioSciences, Inc. (Nasdaq: PBIO; "PBI") today announced that Matthew B. Potter has joined PBI's senior executive management team as Vice President of Sales. Mr. Potter brings with him nearly twenty years of experience in sales and sales management at a number of leading life sciences companies. Mr. Potter will oversee PBI's seven US-based, regional sales directors and will be responsible for driving the Company's commercialization of its novel and patented pressure cycling technology (PCT) product line.
Mr. Richard T. Schumacher, PBI's Founder, President, and CEO stated: "This is an important and exciting time for our Company, as our efforts in 2008 are clearly focused on both the development of market awareness for PCT and on the expansion of our small but growing customer base. To this end, we believe that Matt's background and management style is a not only a great fit with our team, but should also help to accelerate our PCT commercialization plan. We consider ourselves very fortunate to have someone of Matt's caliber join our management team."
Mr. Schumacher continued: "In addition to bringing significant sales and sales leadership experience to PBI, the hiring of Matt allows Dr. Nathan Lawrence, who previously led both sales and marketing, to focus all of his efforts on marketing, collaboration support, distribution outside of the United States, and liaison activities between collaborators and our scientific and engineering teams. This new focus for Dr. Lawrence will allow us to align our sales and marketing efforts in a manner that supports our Company's transition to a fully commercial operation in 2008."
About Matthew B. Potter
Over his career, Mr. Potter has been a Sales Manager at Pharmacia Biotech; National Sales Director at Visible Genetics; Director, Sales and Marketing at MicroCal, LLC; National Sales Manager, Key Accounts -- Pharma at Qiagen, Inc; and Vice President of Sales and Marketing at Abcam, Inc. Before his transition into sales, Mr. Potter was a researcher at the Worcester Foundation for Experimental Biology. Mr. Potter holds a BA in Biology from Clark University and an MBA from Assumption College, both located in Worcester, MA.
Mr. Potter commented: "In over 19 years of selling products into the research marketplace for the analysis of nucleic acids, proteins, and small molecules, one issue -- how to achieve high quality extraction of bio- molecules prior to analysis -- nearly always rose to the top. This was always a key issue, and to that end, I believe strongly that the PCT Sample Preparation System answers many of the sample preparation problems that researchers encounter, and offers unique advantages to customers looking to extract DNA, RNA, proteins, and small molecules from a wide variety of biological samples. PBI has a dedicated and talented group of people throughout the organization, and I look forward to working with them -- and in particular our newly hired field sales organization -- to drive this technology into the marketplace."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (PBI) is a publicly traded company focused on the development of a novel, enabling, platform 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 chemical reactions (particularly 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 use of the PCT SPS by the Brooklyn Hospital Center and the NYU School of Medicine, the results of their studies having been presented at the Annual Scientific Meeting of the American College of Gastroenterology. 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 Sample Preparation System; the possibility that other laboratories may be unable to duplicate the results generated by Dr. Momeni and her colleagues; the possibility that the data generated may not be beneficial in the development of new therapeutics and diagnostics for colon cancer; that due to competitive products, services, and technological advances, PCT may not be the preferred method of sample preparation by other scientists and laboratories; 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, 2006, 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