SOUTH EASTON, Mass., Sept. 11 /PRNewswire-FirstCall/ -- Pressure BioSciences, Inc. (Nasdaq: PBIO "PBI" or "the Company") today announced that it has entered into a Cooperative Research and Development Agreement (CRADA) with the United States Army Medical Research Institute of Infectious Diseases (USAMRIID). Researchers at USAMRIID have recently shown that the use of the Company's patented pressure cycling technology ("PCT") with patent-pending chemical reagents ("ProteoSolve-SB") has resulted in the simultaneous decontamination and extraction of macromolecules (DNA, RNA, proteins, lipids) as well as small molecules from samples containing infectious pathogens. The purpose of this CRADA is to adapt PCT into protocols for the development of medical countermeasures against dangerous pathogens that endanger the warfighter. The CRADA will allow scientists from PBI and USAMRIID to combine resources, experiences, and expertise to help achieve this important goal.
Dr. Chunquin Li, Applications Scientist for Pressure BioSciences, said: "The decontamination and extraction of biomolecules from samples containing dangerous infectious pathogens for subsequent analysis is essential to the development of improved therapies, vaccines, and diagnostics needed to protect soldiers, emergency responders, and others against possible exposure to biological threat agents."
Dr. Nathan Lawrence, Vice President of Marketing at PBI commented: "Research on dangerous pathogens takes place within specially engineered BioSafety Level (BSL) -3 or -4 suites. A rapid procedure to completely decontaminate macromolecules enables the transfer of samples out of containment suites where further studies are more easily conducted. While traditional methods for decontamination have been proven safe, they often render biological samples unsuitable for modern, state-of-the-art biomolecular analysis. Researchers at USAMRIID have demonstrated that PCT coupled with ProteoSolve-SB can kill infectious agents, without significant adverse effects on the subsequent testing and analysis of macromolecules. This was an important advancement, since some macromolecular assays cannot be readily performed in BSL containment. These findings warranted further testing."
Mr. Richard T. Schumacher, Founder, President, and CEO of Pressure BioSciences, said: "We believe that data generated under the CRADA could significantly accelerate and enhance current research studies involving infectious or dangerous agents. Such improvements could be of great importance to USAMRIID investigators, as well as to all scientists, whether military or in the public or private sector, who are working to develop more effective tools to counter bioterrorism. In addition, the knowledge gained from research performed under this CRADA may be of great importance to the many laboratories around the world working on the development of improved medical protections - including diagnostics, therapeutics, and vaccines - against infectious diseases not related to biological threat agents."
CRADA Costs
PBI will support the CRADA by offering USAMRIID the use of a Barocycler NEP3229 for a mutually agreed upon period of evaluation; by supplying consumable processing containers (PULSE Tubes) and kits to USAMRIID; and by the efforts of up to eight hours per week of technical support from PBI scientists. All of these items will be offered at no charge. Conversely, USAMRIID will support the CRADA through the technical support of its scientific staff available for both containment and non-containment work.
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.
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CONTACT:
Pressure BioSciences, Inc.
Investor Contacts:
Richard T. Schumacher, President & CEO
Edward H. Myles, Sr. Vice President of Finance & CFO
(508) 580-1818