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Pressure BioSciences, Inc. Reports Strong First Quarter 2013 Financial Results

admin — Tue, 21 May 2013 10:58:37 +0000

Total Revenue Up 21%; Operating Loss Down 24%; Consumable Sales Up 64%;
Investor Conference Call Slated for Thursday, May 23 at 11:00 AM EDT

SOUTH EASTON, MA, May 21, 2013 — Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced financial results for the three-month period ended March 31, 2013 and provided a business update.

Total revenue for the first quarter of 2013 was $370,737 compared to $305,661 for the same period in 2012, a 21% increase. Revenue from the sale of pressure cycling technology (“PCT”) products and services was $221,569 for the first quarter of 2013 compared to $164,772 for the same period in 2012, a 34% increase. Grant revenue in the first quarter of 2013 was $149,168 compared to $140,889 for the same period in the prior year. Sales of PCT-based consumables generated revenue of approximately $27,200 for the three months ended March 31, 2013 compared to approximately $16,600 for the same period in 2012, an increase of 64%.

Operating loss for the first quarter of 2013 decreased to $725,024, from $964,582 for the same period in 2012, a reduction of 24%. Contributing to this decrease in operating loss were quarter over quarter decreases in total expenses from research and development ($25,153, or 9%), marketing and selling ($44,192, or 19%), and general and administrative ($131,487, or 19%).

Loss per common share — basic and diluted — was $0.11 for the first quarter of 2013 compared to $0.14 for the same period in 2012.

Conrad F. Mir, Chief Financial Officer of PBI, said: “In addition to strong quarter over quarter (Q1 2013 vs. Q1 2012) revenue increases, both total revenue and PCT products revenue showed substantive quarterly sequential increases (Q1 2013 vs. Q4 2012) as well, posting gains of 72% and 81%, respectively. We achieved these results while decreasing expenses in research and development, selling and marketing, and general and administrative. Our financial performance for the first quarter of 2013 bolstered PBI’s significant progress in reaching our stated goal of developing a sound financial roadmap moving forward.”

Richard T. Schumacher, President and CEO of PBI, commented: “Since the beginning of the year, we have reported a number of operational achievements. Among these is continued progress in the development of a PCT-based method to increase the quality and throughput of rape kit testing. Such an improvement could potentially result in a significant reduction in the backlog of untested rape kits in the US, currently estimated at more than 200,000. We believe that timely testing of rape kits could result in the apprehension and conviction of perpetrators of sexual assaults who are currently free because of this testing backlog.”

Mr. Schumacher continued: “We remain very excited about our prospects for 2013. We believe that PCT product sales will continue to increase, that we will continue to manage our operating expenses, and that the short and long-term financing strategies we have spent the past few months developing will be successfully implemented. In addition, we also believe that we will successfully release several new, important products to the market in 2013. Finally, we believe that the combination of all of these achievements will result in a stronger company, resulting in a positive effect on the value of PBI for all of our shareholders.”

About Pressure BioSciences, Inc.

Pressure BioSciences, Inc. (“PBI”) (OTCQB: PBIO) is focused on the development, marketing, and sale of proprietary laboratory instrumentation and associated consumables based on Pressure Cycling Technology (“PCT”). PCT is a patented, enabling technology platform with multiple applications in the estimated $6 billion life sciences sample preparation market. PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions. PBI currently focuses its efforts on the development and sale of PCT-enhanced sample preparation systems (instruments and consumables) for mass spectrometry, biomarker discovery, bio-therapeutics characterization, vaccine development, soil and plant biology, forensics, histology, and counter-bioterror applications.

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. Forward looking statements include the estimated size of the life sciences sample preparation market; the potential applications of the Company’s PCT; the Company’s plans and ability to secure sufficient financing to support working capital needs; statements related to the strong financial and operating results of the 2013 first quarter, and the Company’s expectations that the increase in revenues and reduction in costs will continue in 2013 and beyond; that we will be successful in releasing new products to the market in 2013 and beyond, including a method to increase the quality and throughput of rape kit testing, and that such a method could result in the apprehension and conviction of perpetrators of sexual assault crimes; that we have made significant progress in our goal to develop and implement a sound financial roadmap for PBI, and that we will successfully implement both short and long-term financial plans, and that these successes will result in a stronger Company and a positive effect on the value of PBI for all shareholders. 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 Company’s financial results for the quarter ended March 31, 2013 may not necessarily be indicative of future results as future revenues may not meet expectations due to the possible failure of the Company’s products to achieve commercial acceptance, changes in customer’s needs and technological innovations, expenses may be higher than anticipated due to unforeseen costs or cost increases, and the Company may not secure sufficient capital to implement its plans; possible difficulties or delays in the implementation of the Company’s strategies that may adversely affect the Company’s continued commercialization of PCT; the Company may not be successful in selling its PCT product line because scientists may not perceive the advantages of PCT over other sample preparation methods; that other researchers may not be able to replicate the data the Company previously reported or see the advantages of using the Company’s PCT platform in previously reported studies; and if actual operating costs are higher than anticipated, or revenues from product sales are less than anticipated, the Company may need additional capital beyond May 2013. Further, given the uncertainty in the capital markets and the current status of the Company’s product development and commercialization activities, there can be no assurance that the Company will secure the additional capital necessary to fund its operations beyond May 2013 on acceptable terms, if at all. 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 Annual Report on Form 10-K for the year ended December 31, 2012, 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.

For more information about PBI and this press release, please click on the following website link: http://www.pressurebiosciences.com

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Condensed Consolidated Statements of Operations
(Unaudited)                                                                 

                                                 For the Three Months Ended
                                                          March 31,
                                                 --------------------------
                                                     2013          2012
                                                 ------------  ------------ 

Revenue:
  PCT products, services, other                  $    221,569  $    164,772
  Grant revenue                                       149,168       140,889
                                                 ------------  ------------
    Total revenue                                     370,737       305,661
                                                 ------------  ------------ 

Costs and expenses:
  Cost of PCT products and services                   104,544        78,194
  Research and development                            246,458       271,611
  Selling and marketing                               193,900       238,092
  General and administrative                          550,859       682,346
                                                 ------------  ------------
    Total operating costs and expenses              1,095,761     1,270,243
                                                 ------------  ------------ 

    Operating loss                                   (725,024)     (964,582)

Other (expense) income:
  Interest (expense) income, net                       (8,900)      (56,313)
  Change in fair value of warrant derivative
   liability                                          (45,445)      (42,012)
                                                 ------------  ------------
    Total other (expense) income                      (54,345)      (98,325)

                                                 ------------  ------------
Net loss                                             (779,369)   (1,062,907)
                                                 ------------  ------------
Accrued dividends on convertible preferred stock      (32,173)      (24,414)
Deemed dividend on Series J convertible
 preferred stock                                     (582,548)            -
                                                 ============  ============
Net loss applicable to common shareholders       $ (1,394,090) $ (1,087,321)
                                                 ============  ============ 

Net loss per share attributable to common
 stockholders - basic and diluted                $      (0.11) $      (0.14)

Weighted average common stock shares outstanding
 used in the basic and diluted net loss per
 share calculation                                 12,149,267     7,712,539 

Condensed Consolidated Balance Sheets
                                                   March 31,   December 31,
                     ASSETS                          2013          2012
                                                 ------------  ------------
                                                  (Unaudited)    (Audited)
CURRENT ASSETS
Cash and cash equivalents                        $    167,910  $      1,461
Accounts receivable                                   278,020       216,265
Inventories, net of $50,000 reserve at March 31,
 2013 and December 31, 2012                           890,853       923,362
Prepaid income taxes                                    7,381         7,381
Prepaid expenses and other current assets             103,706        83,435
                                                 ------------  ------------
  Total current assets                              1,447,870     1,231,904
                                                 ------------  ------------
PROPERTY AND EQUIPMENT, NET                            22,444        30,282
                                                 ------------  ------------
Deposits                                                    -         6,472
Intangible assets, net                                 72,972        85,130
                                                 ------------  ------------
TOTAL ASSETS                                     $  1,543,286  $  1,353,788
                                                 ============  ============
      LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable                                 $  1,059,336  $  1,199,846
Accrued employee compensation                         153,978       119,338
Accrued professional fees and other                   376,901       267,936
Deferred revenue                                       29,809        46,466
Promissory note                                        75,000        75,000
Dividend liability                                          -        60,000
Related party debt                                     42,357        98,675
Convertible debt                                            -       863,004
Warrant derivative liability                          206,257       160,812
                                                 ------------  ------------
  Total current liabilities                         1,943,638     2,891,077
                                                 ------------  ------------
LONG TERM LIABILITIES
Deferred revenue                                        1,633         2,487
                                                 ------------  ------------
TOTAL LIABILITIES                                   1,945,271     2,893,564
                                                 ------------  ------------
STOCKHOLDERS' DEFICIT
Series D convertible preferred stock, $.01 par
 value; 850 shares authorized; 300 shares issued
 and outstanding on March 31, 2013 and on Dec.
 31, 2012                                                   3             3
Series G convertible preferred stock, $.01 par
 value; 240,000 shares authorized; 145,320
 shares issued and outstanding on March 31, 2013
 and on Dec. 31, 2012                                   1,453         1,453
Series J convertible preferred stock, $.01 par
 value; 6,250 shares authorized; 4,650 shares
 and 0 shares issued and outstanding on March
 31, 2013 and on Dec. 31, 2012, respectively               47             -
Series H convertible preferred stock, $.01 par
 value; 10,000 shares authorized; 0 shares
 issued and outstanding on March 31, 2013 and on
 Dec. 31, 2012                                              -             -
Common stock, $.01 par value; 50,000,000 shares
 authorized; 12,149,267 shares issued and
 outstanding on March 31, 2013 and on Dec. 31,
 2012                                                 121,493       121,493
Warrants to acquire preferred stock and common
 stock                                              3,823,922     3,015,996
Additional paid-in capital                         17,664,727    15,940,818
Accumulated deficit                               (22,013,628)  (20,619,539)
                                                 ------------  ------------
  Total stockholders' deficit                        (401,985)   (1,539,776)
                                                 ------------  ------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT      $  1,543,286  $  1,353,788
                                                 ============  ============

Investor Contacts:
Richard T. Schumacher
President & CEO
Pressure BioSciences, Inc.
(508) 230-1828 (T)

Conrad F. Mir
Chief Financial Officer
Pressure BioSciences, Inc.
(508) 230-1828 (T)

Timothy J. Connor
Managing Director
Benchmark Advisory
(858) 568-7059 (T)

SOURCE: Pressure BioSciences, Inc.

Breakthrough Method for Lipid Analysis in Fecal Material Developed; New Understanding of Diseases/Disorders Related to Gut Function Possible

admin — Thu, 16 May 2013 09:00:14 +0000

Pressure BioSciences’ PCT Platform Enhances Study Results

SOUTH EASTON, Mass., May 16, 2013 – Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced the publication in the journal Analytical Chemistry of a study by a team of scientists led by Dr. Bruce Kristal, Associate Professor of Surgery at Harvard Medical School and the Department of Neurosurgery at Brigham and Women’s Hospital, entitled: Method Development for Fecal Lipidomics Profiling. The long-term goal of the study was to gain a greater understanding of the gastrointestinal (“GI”) system, i.e., the gut, and its role in health and disease in certain high-risk patient populations (such as premature infants) by analyzing the full lipid profile in fecal material. Lipids are a group of naturally occurring molecules, including fats and cholesterol, which have been associated with a number of diseases and disorders, such as heart disease, cancer, and obesity.

The importance of understanding and evaluating the GI system is evident with recent scientific advances in diseases such as colon cancer, inflammatory bowel disease, and chronic diarrhea, and in disorders such as autism, allergy, and obesity. It is believed that new and improved laboratory tools that enable a better understanding of gut function could have a significant impact on diagnosing, treating, curing, and preventing such diseases and disorders. Furthermore, the ability to better evaluate GI function, especially through simple and non-invasive means, could have a significant impact on decreasing the cost and increasing the quality of healthcare worldwide.

In their publication, Dr. Kristal and colleagues reported that the combination of PBI’s patented pressure cycling technology (“PCT”) platform and certain chemicals improved the extraction of lipids from fecal material. They concluded that their new method “opens the door to the use of fecal lipid pro?ling for both scientific and clinical applications” and that it “provides a reproducible, generally applicable, broad-based, and non-invasive technique for establishing gut function in patients regardless of age or disease.”

Further, the authors stated that the study “represents a new paradigm for determining the impact of initial intestinal colonization and for assessing nutritional, infectious, and inflammatory status” in premature infants. They proposed that the method might be useful in other strategies for monitoring the GI system and might help improve care for vulnerable patients with conditions such as inflammatory bowel disease, ulcerative colitis, and gastrointestinal cancers.

Dr. Nate Lawrence, VP of Marketing and Sales for PBI, said, “We believe this novel method can help determine and assess intestinal function, response to nutrition, inflammation, and even the occurrence and/or progression of disease. We further believe that it could have both diagnostic and prognostic implications on vulnerable and difficult-to-study populations, such as premature infants and the elderly. We are thrilled that our PCT platform is an important part of this exciting, potentially paradigm-changing method, one which we believe could play a significant role in future research and clinical applications.”

The authors stated that to their knowledge this publication was the first report of full intact lipid extraction from fecal material followed by LC-MS analysis. The analysis of intact lipids is important as it results in better biological information compared to non-intact lipids. LC-MS is a popular method widely-used by research scientists worldwide in the study of proteins and lipids.

About Pressure BioSciences, Inc.

Pressure BioSciences, Inc. (“PBI”) (OTCQB: PBIO) is focused on the development, marketing, and sale of proprietary laboratory instrumentation and associated consumables based on our proprietary technology – pressure cycling technology. PCT is a patented, enabling technology platform with multiple applications in the estimated $6 billion life sciences sample preparation market. PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions. PBI currently focuses its efforts on the development and sale of PCT-enhanced sample preparation systems (instruments and consumables) for mass spectrometry, biomarker discovery, bio-therapeutics characterization, vaccine development, soil and plant biology, forensics, histology, and counter-bioterrorism applications.

Forward-Looking Statements

Statements contained in this press release regarding PBI’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 statements include, without limitation, statements regarding the breakthrough method for the extraction and analysis of lipids from fecal material; the importance of understanding and evaluating the GI system; that new and improved laboratory tools could have a significant impact on diagnosing, treating, curing, and preventing diseases and disorders; that the ability to better evaluate GI function, especially through simple and non-invasive means, could have a significant impact on decreasing the cost and increasing the quality of healthcare worldwide; that the new method opens the door to the use of fecal lipid pro?ling for both scientific and clinical applications and provides a reproducible, generally applicable, broad-based, and non-invasive technique for establishing gut function in patients regardless of age or disease; that the study represents a new paradigm for determining the impact of initial intestinal colonization and for assessing nutritional, infectious, and inflammatory status in premature infants; that the method might be useful in other strategies for monitoring the GI system and might help improve care for vulnerable patients with conditions such as inflammatory bowel disease, ulcerative colitis, and gastrointestinal cancers; that the novel method can help determine and assess intestinal function, response to nutrition, inflammation, and even the occurrence and/or progression of disease; that the new method could have both diagnostic and prognostic implications on populations such as premature infants and the elderly; that the method could play a significant role in future research and clinical applications; that this publication was the first report of full intact lipid extraction from fecal material followed by LC-MS analysis; that the analysis of intact lipids is better than the analysis of non –intact lipids; and the size of the life sciences sample preparation market. 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: possible difficulties or delays in the implementation of the Company’s strategies that may adversely affect the Company’s continued commercialization of its PCT-based product line; changes in customer’s needs and technological innovations; the Company’s and its strategic partners/distributors sales forces may not be successful in selling the Company’s PCT product line because scientists may not perceive the advantages of PCT over other sample preparation methods; that other researchers may not be able to replicate the data reported or see the advantages of using the Company’s PCT platform in the studies mentioned; and if actual operating costs are higher than anticipated, or revenues from product sales are less than anticipated, the Company may need additional capital beyond June 2013. Further, given the uncertainty in the capital markets and the current status of the Company’s product development and commercialization activities, there can be no assurance that the Company will secure the additional capital necessary to fund its operations beyond June 2013 on acceptable terms, if at all. 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 Annual Report on Form 10-K for the year ended December 31, 2012, 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.

For more information about PBI and this press release, please click on the following website link:

http://www.pressurebiosciences.com

Further Advancements Made in the Development of an Improved Method For Rape Kit Testing Using Pressure BioSciences’ Patented Pressure Cycling Technology (PCT)

admin — Thu, 04 Apr 2013 09:00:20 +0000

Company Plans to Expand Collaborative Efforts with Key Forensics Groups in an Effort to Accelerate Timetable to Launch Their PCT-based Rape Kit Processing System

SOUTH EASTON, Mass., April 4, 2013 — Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced that scientists from Florida International University (“FIU”) reported further advancements in their goal to develop an improved method for rape kit testing based on PBI’s patented pressure cycling technology (PCT) platform. The data were presented at the recent annual scientific meeting of the American Academy of Forensic Sciences (“AAFS”).

Ms. Deepthi Nori, a graduate student in the laboratory of Dr. Bruce McCord (Associate Director of FIU’s International Forensic Research Institute and principal investigator of the study), presented encouraging results from their studies of the application of PCT to improve rape kit testing. Their method is based on the unique ability of PCT to break open and release DNA from one type of cell contained in the rape kit swab (e.g., sperm cell from the perpetrator) while leaving a second type of cell in the swab intact (e.g., epithelial cell from the victim). The resulting unique DNA profile of the sperm can then be compared to the millions of DNA profiles contained in various DNA databases around the world in an attempt to determine the identity of the perpetrator.

In a separate presentation, Dr. Pero Dimsoski, a post-doctoral researcher in the Department of Chemistry and Biochemistry at FIU, reported on a novel cell capture method that, when used in combination with PCT, could potentially allow a greater number of the sperm cells in the rape kit sample to be available for testing, and fewer epithelial cells from the victim, resulting in an even better DNA profile of the perpetrator. It is believed that a better profile of the perpetrator’s DNA should lead to more rapid identifications, which should lead to an increase in arrests and successful prosecutions of perpetrators.

“We are very pleased with the continued progress being made by Dr. Bruce McCord and his team in the development of an improved method for rape kit testing based on our patented PCT platform,” said Dr. Nate Lawrence, Vice President of Marketing and Sales. “The backlog of untested rape kits is a national travesty. It is imperative that improved methods be developed as soon as possible to help ensure that testing of rape kit samples be completed promptly. To that end, we remain committed to our support of Dr. McCord and his team.”

Dr. Lawrence continued: “We have begun discussions with additional forensic scientists with rape kit testing expertise, in order to expand the number of collaborations we have in this area. We expect these new collaborations to augment and extend the work of Dr. McCord and his team, which can potentially result in accelerating the development and launch of our PCT-based Rape Kit Processing System.”

About Untested Rape Kits

There is an estimated backlog of up to 400,000 untested rape kits throughout the United States. Numerous articles have been published describing the thousands of untested rape kits that have been found on dusty shelves in police storage warehouses and forensic labs nationwide. The added tragedy to these findings is that, in some cases, more rapid and otherwise improved test methods might have led to arrests of perpetrators sooner and, subsequently, might have prevented additional rapes and other violent crimes from occurring. For example, when the city of Detroit tested the first 600 of their backlog of 11,000 untested rape kits, they reported that the analysis of a rape kit sample collected in 2002 and not tested until 2009 revealed DNA that belonged to a criminal who was in prison for the murder of three women. Unfortunately, the murders were committed during the seven years that the kit remained untested, sitting in a warehouse.

About Pressure BioSciences, Inc.

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 statements include, without limitation, statements regarding the test results reported by Ms. Nori, Dr. Dimsoski, and Dr. McCord on an improved method for rape kit testing using PCT; the unique ability of PCT to break one type of cell while leaving a second type of cell intact; the ability of a novel cell capture method, when used in combination with PCT, to increase the number of sperm cells in rape kit samples available for testing, resulting in a better DNA profile; that a better DNA profile might lead to more rapid identifications, increased arrests, and more successful prosecutions; the backlog of untested rape kits and that the backlog is a national travesty; that improved methods of rape kit testing might lead to reduced testing time; that new collaborations will augment and extend the work of Dr. McCord and his team, which could potentially accelerate the development and launch of the PCT-based Rape Kit Processing System; that improved rape kit testing methods might lead to the arrests of perpetrators sooner, which would prevent their involvement in rape and other violent crimes; and the size of the life sciences sample preparation market. 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: possible difficulties or delays in the implementation of the Company’s strategies that may adversely affect the Company’s continued commercialization of its PCT-based product line; changes in customer’s needs and technological innovations; the Company’s and its strategic partners/distributors sales forces may not be successful in selling the Company’s PCT product line because scientists may not perceive the advantages of PCT over other sample preparation methods; that other researchers may not be able to replicate the data reported or see the advantages of using the Company’s PCT platform in the studies mentioned; and if actual operating costs are higher than anticipated, or revenues from product sales are less than anticipated, the Company may need additional capital beyond May 2013. Further, given the uncertainty in the capital markets and the current status of the Company’s product development and commercialization activities, there can be no assurance that the Company will secure the additional capital necessary to fund its operations beyond May 2013 on acceptable terms, if at all. Additional risks and uncertainties that could cause actual results to differ materially from those indicated by these forward-looking statements are discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, 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.

For more information about PBI and this press release, please click on the following link: http://www.pressurebiosciences.com

New Applications of Pressure BioSciences’ PCT Platform Prominently Featured at Scientific Conference on Technologies for Protein Research

admin — Tue, 19 Mar 2013 20:51:25 +0000

Use and Advantages of PCT-based Sample Preparation Methods Highlighted in Studies of Cancer, Stem Cell, and Heart Disease Samples

SOUTH EASTON, Mass., March 19, 2013 – Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced that scientists from three separate research groups presented data at the recent US HUPO 9^th Annual Conference indicating that sample preparation methods based on the Company’s patented pressure cycling technology (“PCT”) platform resulted in improved quality and/or efficiency of test results. The US HUPO conference was held March 10-13, 2013 in Baltimore, MD. The studies were conducted by scientists from ETH Zurich and the University of Zurich; from the Food and Drug Administration (“FDA”) and the National Institutes of Health (“NIH”); and from the Johns Hopkins University, Louisiana State University, and Wake Forest University Schools of Medicine.

Professor Ruedi Aebersold, Professor of Molecular Systems Biology at ETH Zurich and the University of Zurich, stated that a key barrier to the development of personalized medicine cancer diagnostics and therapeutics has been the difficulty in identifying specific biomarkers. Data presented by Professor Aebersold indicated that by combining a novel biomarker strategy with a cutting-edge protein analysis method, the targeting of cellular and plasma proteins could be enhanced. This, in turn, could result in an increased chance to discover novel biomarkers. Professor Aebersold called this method “PCT-SWATH”, since the use of PCT to prepare samples prior to analysis was essential to the process, offering high throughput with minimal sample loss. A case study on prostate cancer was used to illustrate the concept.

Dr. Natalia Pripuzova, from Dr. Michail Alterman’s lab at the Center for Biologics Evaluation and Research of the FDA, presented data on the comparison of embryonic and IPSC stem cell lines. Cell lysis (i.e., breakage), an important part of the study’s workflow, was routinely performed by Dr. Pripuzova and her colleagues using PCT in PBI’s Barocycler instrument and consumables.

Dr. Zongming Fu, a member of Professor Jennifer Van Eyk’s proteomics lab at the Johns Hopkins University School of Medicine, presented data on improved protein extraction and identification from archival formalin-fixed paraffin-embedded (“FFPE”) human aorta samples using high heat combined with PCT. Dr. Fu and his colleagues found that high heat combined with PCT increased protein extraction yield over heat alone, resulting in a greater number of protein identifications. They concluded that this method now makes it feasible to test archives of FFPE arterial and aorta samples, including rare and difficult tissues, for biomarker discovery.

Dr. Nate Lawrence, Vice President of Sales and Marketing for PBI, commented: “We are very pleased that such highly respected protein scientists recognize the advantages of PCT in their work. First, the use of PCT to prepare stem cells for analysis opens up a new field for us, one in which we believe a focused marketing effort will result in increased PCT instrument sales in the short term. Second, we believe the data on enhanced protein recovery from FFPE samples support the continued development of our PCT-based FFPE extraction system, which we expect to release later this year, and that we expect to have a positive impact on sales in 2013 and beyond.”

Dr. Lawrence continued: “Mass spectrometry-based protein analytical methods have begun to move into the personalized medicine field. These diagnostic and prognostic tools offer the potential to save many lives and greatly improve therapeutic outcomes. The PCT-SWATH method introduced by Dr. Aebersold appears to offer a superior workflow for preparing very small samples for analysis, such as routinely collected needle biopsy specimens. We believe the market for such a method is very large, fragmented, and underserved. We plan to focus greater effort in this area over the coming months, as we believe it has the potential to add significantly to sales of PCT instruments and consumables in 2013 and beyond.”

About Pressure BioSciences, Inc.

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 statements include, without limitation, statements regarding the test results reported by the three separate research groups at the US HUPO annual conference using the PCT platform; that a key barrier to the development of personalized medicine cancer diagnostics and therapeutics has been the difficulty in identifying specific biomarkers; that by combining a novel biomarker strategy with a cutting-edge protein analysis method, the targeting of cellular and plasma proteins could be enhanced, and could result in an increased chance to discover novel biomarkers, and the advantages of PCT as an essential part of this process, offering high throughput with minimal sample loss; that high heat combined with PCT increased protein extraction yield over heat alone, resulting in a greater number of protein identifications from FFPE samples, and that this method now makes it feasible to test archives of FFPE arterial and aorta samples, including rare and difficult tissues, for biomarker discovery; that the use of PCT to prepare stem cells for analysis will open up a new field for PBI, and that a focused marketing effort will increase sales in the short term; that the data on enhanced protein recovery from FFPE samples support the continued development of the Company’s PCT-based FFPE extraction system, which is expected to be released before the end of 2013, and which is also expected to have a positive impact on 2013 sales; that mass spectrometry-based protein analytical methods have begun to move into the personalized medicine field, and that they offer the potential to save many lives and greatly improve therapeutic outcomes; that the PCT-SWATH method appears to offer a superior workflow for preparing very small samples for analysis, such as routinely collected needle biopsy specimens, and that the market for such a method is very large and fragmented, and underserved, and that it that it has the potential to add significantly to the Company’s sales of PCT instruments and consumables in 2013 and beyond; and the size of the life sciences sample preparation market. 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: possible difficulties or delays in the implementation of the Company’s strategies that may adversely affect the Company’s continued commercialization of its PCT-based product line; changes in customer’s needs and technological innovations; the Company’s and its strategic partners/distributors sales forces may not be successful in selling the Company’s PCT product line because scientists may not perceive the advantages of PCT over other sample preparation methods; that other researchers may not be able to replicate the data reported or see the advantages of using the Company’s PCT platform in the studies mentioned; and if actual operating costs are higher than anticipated, or revenues from product sales are less than anticipated, the Company may need additional capital beyond April 2013. Further, given the uncertainty in the capital markets and the current status of the Company’s product development and commercialization activities, there can be no assurance that the Company will secure the additional capital necessary to fund its operations beyond April 2013 on acceptable terms, if at all. Additional risks and uncertainties that could cause actual results to differ materially from those indicated by these forward-looking statements are discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, 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.

For more information about PBI and this press release, please click on the following link: http://www.pressurebiosciences.com

Pressure BioSciences, Inc. to Present at the SeeThruEquity Spring Investor Microcap Forum

admin — Mon, 11 Mar 2013 22:00:22 +0000

SOUTH EASTON, Mass., March 11, 2013 — Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced that Mr. Richard T. Schumacher, President and CEO, will present a corporate overview at SeeThruEquity’s Spring Investor Microcap Forum on Tuesday, March 12^th at 3:20 pm EDT. The Investor Forum is being held at the Penn Club, 30 West 44^th Street, New York, NY. Registration for the Investor Forum is available at www.seethruequity.com.

Mr. Schumacher’s presentation will be webcast and may be viewed on the day of the presentation and up to 90 days thereafter on the Company’s website (www.pressurebiosciences.com).

About SeeThruEquity LLC:

SeeThruEquity, LLC is an investment research and corporate access firm that produces high quality research reports on small- and micro-cap companies with less than $1 billion in market capitalization. These companies are typically underserved by the traditional Wall Street analyst establishment. SeeThruEquity is unfettered by any ties to investment banking or trading, and distributes its high impact research as an approved firm for consensus estimates on Thomson Reuters, CapitalIQ, FactSet, Zacks and StockTwits, as well as to its own audience of investors from its corporate website.

SeeThruEquity’s philosophy is focused on delivering an unbiased, institutional quality research product for uncovered or under covered companies to all levels of investors in the investment community and at absolutely no charge to the reader of the research or the company being covered. The firm seeks to build relationships between corporate issuers and institutional and sophisticated investors via compelling investor conferences and forums as well as non-deal road shows.

About Pressure BioSciences, Inc.

Forward Looking Statements

For more information about PBI and this press release, please click on the following website link: http://www.pressurebiosciences.com

Dr. Mickey Urdea Joins Pressure BioSciences’ Board of Directors

admin — Mon, 11 Feb 2013 09:30:34 +0000

Founder of Tethys Bioscience and Halteres Associates, Previous Diagnostics R&D and Business Head at Chiron and Bayer, and Member of Multiple Scientific Advisory Boards Brings Extensive Expertise and Experience to PBI

SOUTH EASTON, Mass., Feb. 12, 2013 – Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced that Dr. Mickey Urdea has been appointed to its Board of Directors, effective Friday, February 8, 2013. Dr. Urdea will fill the vacancy created by the resignation of Mr. Wayne Fritzsche, a longtime Board member who resigned on Thursday, February 7, 2013 to pursue a full-time, management position with PBI. Dr. Urdea will be a Class III Board member – his term of office will expire at the 2014 annual meeting of shareholders. In addition to his Board of Director’s responsibilities, Dr. Urdea will develop and lead the Company’s Scientific Advisory Board.

Mr. Jeffrey N. Peterson, Chairman of the PBI Board of Directors, said: “Mickey’s technical experience, gained from bench scientist to widely-recognized R&D leader spanning multiple successful cutting-edge technologies, will contribute strongly to the selection and development of key markets for our patented pressure cycling technology (“PCT”) platform. His entrepreneurial success in founding and leading nationally-acclaimed companies in biomarker discovery, personalized medicine, and healthcare strategic consulting will be immensely useful as we continue our aggressive PCT commercialization strategy. We are honored and privileged to welcome Mickey to the PBI Board.”

Dr. Mickey Urdea commented: “Since being introduced to PCT just three months ago, I have become fascinated with the current applications and extensive future potential uses of this cutting-edge technology platform. Over the years, I have helped develop and then support the marketing of many new technologies, several of which made significant impacts in the research and diagnostic marketplaces. To that end, I believe PCT has the potential to gain widespread adoption and become a vital sample preparation tool to research and clinical laboratories worldwide. I am very pleased to join the PBI Board, and look forward to helping Ric, his impressive team, and my new colleagues on the Board of Directors make as many scientists and investors as possible aware of the power of PCT.”

Mr. Richard T. Schumacher, President and CEO of PBI, said: “On behalf of all PBI stakeholders, I extend my deep appreciation and best wishes to Wayne Fritzsche for his nearly eight years of tireless and dedicated service to our company, most of which were spent as chairman. His leadership has helped bring PBI to the point where, we believe, we are well positioned to successfully commercialize our powerful PCT Platform, as well as our other pressure-based products. It is fitting that as Wayne moves off the Board, he moves into a full-time, management position in PBI where he can significantly affect our future, commercial success.”

About Dr. Urdea

Dr. Urdea has devoted his 30-year career to human diagnostics in a variety of capacities. He has been involved in the discovery of new biomarkers, the development of new technologies for biomarker discovery, validation and commercialization, diagnostic test development, manufacturing and marketing, and the management of companies involved in these activities. Dr. Urdea founded and is a Managing Partner for Halteres Associates, a biotechnology consulting firm. He also founded and served as Chief Executive Officer of Tethys Bioscience, a proteomics-based diagnostics company involved in preventative personalized medicine. Tethys’ first product was the protein-based PreDx Diabetes Risk Score Test, which was introduced in 2008. Additionally, Dr. Urdea is a founder and the Chairman of Catalysis Foundation for Health, an organization addressing gaps in global healthcare caused by inefficiencies in disease diagnosis and monitoring. He serves as an expert consultant to the life sciences industry and is on the scientific advisory boards and boards of directors of a number of biotechnology, diagnostics, venture capital and philanthropic organizations.

Prior to his current business activities, Dr. Urdea founded the Nucleic Acid Diagnostics group at Chiron Corporation, and with colleagues, invented branched DNA molecules for amplification of signal in nucleic acid complexes. Application of this technology resulted in the first commercial products for quantification of human hepatitis B, hepatitis C, and human immunodeficiency viruses (HBV, HCV, and HIV, respectively). He then became business head of the Molecular Diagnostics group and Chief Scientific Officer at Bayer Diagnostics. He was also a member of the Bill and Melinda Gates Foundation Diagnostic Forum.

Dr. Urdea is an author on nearly 200 peer-reviewed scientific publications, nearly 300 abstracts and international scientific presentations, and more than 100 issued and pending patents. He received his BS in Biology and Chemistry from Northern Arizona University in Flagstaff and his Ph.D in Biochemistry from Washington State University in Pullman.

About Pressure BioSciences, Inc.

Pressure BioSciences, Inc. (OTCQB: PBIO) is focused on the development, marketing, and sale of proprietary laboratory instrumentation and associated consumables based on Pressure Cycling Technology. PCT is a patented, enabling technology platform with multiple applications in the estimated $6 billion life sciences sample preparation market. PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions. PBI currently focuses its efforts on the development and sale of PCT-enhanced sample preparation systems (instruments and consumables) for mass spectrometry, biomarker discovery, bio-therapeutics characterization, vaccine development, soil and plant biology, forensics, histology, and counter-bioterror applications.

Forward Looking Statements

For more information about PBI and this press release, please click on the following link:
http://www.pressurebiosciences.com

Pressure BioSciences, Inc. Appoints Conrad F. Mir as Chief Financial Officer

admin — Thu, 06 Dec 2012 15:46:28 +0000

Helped Raise Nearly $40 Million in Growth Capital Over the Past Five Years

SOUTH EASTON, Mass., Dec. 5, 2012 – Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced that Mr. Conrad F. Mir has joined the Company as its chief financial officer (“CFO”), effective immediately.

Mr. Mir has over twenty years experience in investment banking, financial structuring, and corporate reengineering. He has served in various executive management roles and on the Board of Directors of several companies in the biotechnology industry. Most recently, Mr. Mir was chairman and CEO of Genetic Immunity, Inc. (GI), a plasmid, DNA company in the HIV space. Prior to GI, Mr. Mir served as executive director of Advaxis, Inc., a vaccine company. During his tenure at GI and Advaxis, Mr. Mir was responsible for raising nearly $40 million in growth capital and broadening corporate reach to new investors and current shareholders.

“I look forward to being a part of the management team at Pressure BioSciences,” said Mr. Mir. “It is my intent to help develop and implement a sustainable fiscal road map that can increase shareholder value by supporting continued growth, particularly in the marketing and sales area. I am grateful for the opportunity to help define the Company’s future.”

Mr. Richard T. Schumacher, President and CEO of PBI, commented: “During 2012, we implemented an aggressive commercialization program for PCT that included, among other things, an increase in international sales and distribution coverage from three to over twenty countries. In addition, last month Cole Parmer, a Thermo Fisher Company, the world leader in serving science, announced they will distribute our PBI Shredder SG3 System.”

Mr. Schumacher continued: “We recently announced record PCT product sales and believe our new commercialization program was integral to this achievement. Going forward, we need to ensure that we properly finance this initiative. This is currently our biggest concern; it is also one of Conrad’s best strengths. He has proven over the past few years that he has the ability to raise significant funds for small, developing companies in a smart and timely way. Soon I believe that all stakeholders in PBI will come to understand just how fortunate we are to have Conrad join us as our new CFO.”

Prior to GI and Advaxis, Mr. Mir worked for several investment banks including Sanford C. Bernstein, First Liberty Investment Group, and Nomura Securities International. He holds a BA/BS in Economics and English with special concentrations in Mathematics and Physics from New York University. He is a classically trained pianist and teacher, and a student of martial arts. He is married with two children, the alumni council chairman of Tau Kappa Epsilon fraternity – Tau Alpha chapter (NYU), and a member of NIRI.

About Pressure BioSciences, Inc.

Forward Looking Statements

PBI filed a registration statement (including a prospectus) with the SEC for an offering to which this communication may relate. Before you invest, you should read the prospectus in that registration statement for the offering and other documents PBI has filed with the SEC for more complete information about PBI and the offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, PBI can arrange to send you the prospectus, when available, upon request.

For more information about PBI and this press release, please click on the following link: http://www.pressurebiosciences.com

Pressure BioSciences Announces Conversion of All Remaining Series E Convertible Preferred Stock by Ironridge BioPharma

admin — Wed, 28 Nov 2012 20:03:17 +0000

SOUTH EASTON, Mass., Nov. 28, 2012 /PRNewswire via COMTEX/ — Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced that Ironridge BioPharma Co. (“Ironridge”) has converted their remaining 200 shares of the Company’s Series E Convertible Preferred Stock (the “Series E Preferred Stock”) into shares of the Company’s common stock. Following this conversion, all 500 shares of Series E Preferred Stock purchased by Ironridge in the April 2012 $500,000 registered direct transaction with the Company have been converted.

The total number of shares of common stock issued to Ironridge for their Series E Preferred Stock investment was 1,113,033, of which 688,378 were reflected in the 11,189,612 shares issued and outstanding on September 30, 2012, as set forth in the Company’s third quarter financial statements accompanying our Quarterly Report on Form 10-Q for the quarter ended September 30, 2012. In connection with the Series E Preferred Stock transaction, the Company paid the make-whole dividend with a combination of cash and common stock.

Mr. Richard T. Schumacher, President and CEO of PBI, commented: “We greatly appreciate the investment made by Ironridge this past April. The funds received were used in part to support the new marketing and sales program that we introduced earlier this year. We believe this program played an important role in helping us achieve record PCT Products revenue in the third quarter of 2012, and will also play an important role in our anticipated future revenue growth. We also appreciate Ironridge’s open dialogue and support, as their cooperation helped ensure a smooth and mutually beneficial transaction.”

About Pressure BioSciences, Inc.

About Ironridge BioPharma Co.

Ironridge BioPharma Co., a division of Ironridge Global IV, Ltd., specializes in equity investments in the life sciences sector, including companies involved in biotechnology, pharmaceuticals, medical devices and enabling technologies. Ironridge is a long-only institutional investor that entered into more than twenty equity financing transactions last year, ranging from a quarter million to ten million dollars each. Ironridge seeks to be a long-term financial partner, assisting public companies in financing operations and expansion by supplying innovative funding solutions and flexible capital. The firm seeks to unlock the full potential of cash-constrained businesses, propelling higher growth and more profitable enterprises. For more information on Ironridge, please visit www.IronridgeGlobal.com.

Forward-Looking Statements

For more information about PBI and this press release, please click on the following links: http://www.pressurebiosciences.com

Pressure BioSciences Partners with Constant Systems to Significantly Expand Product Offerings and International Distribution

admin — Mon, 26 Nov 2012 15:38:15 +0000

Strategic Partnership between Two Worldwide Leaders of Complementary Ultra-high Pressure Product Lines for the Life Sciences Market Provides for Cooperative Marketing, Selling, and Distribution in North America and Twelve Countries in Europe

South Easton, MA, November 26, 2012 – Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the
“Company”) and Constant Systems Ltd (“CS”) today announced they have entered into a two-way,
strategic marketing, selling, and distribution agreement (the “Agreement”). Under the terms of the
Agreement, PBI has been awarded non-exclusive rights to market, sell, and distribute CS’s unique, highpressure cell disruption equipment and consumables in the United States, Canada, and Mexico.

Concomitantly, CS has been awarded the rights to market, sell, and distribute PBI’s patented pressure
cycling technology (“PCT”) based instruments and consumables in England, Scotland, Wales, Ireland,
Spain, Portugal, Italy, Norway, Sweden, Finland, Denmark, and Singapore. CS currently has strong sales
and distribution channels in all twelve of these countries; PBI, on the other hand, has none. The
Agreement is in effect until December 31, 2013; however, PBI and CS expect to extend the Agreement
prior to its termination.

Mr. Richard Mallabar, CEO of UK-based Constant Systems, said: “to date, throughout our sales network
we have successfully installed close to 900 of our cell disruption units into more than 40 countries
worldwide. To help us continue this trend of successful selling, and to increase our market share in North
America, we have partnered with PBI. Their reputation, experience, and expertise in high pressure,
market knowledge, installed base of over 200 PCT instruments in approximately 150 N. American labs,
and their U.S. location, gives us confidence that together we will be highly successful in placing multiple
cell disruption instruments in the U.S., Canada, and Mexico.”

The initial Agreement focuses on cooperative marketing, selling, and distribution. The companies expect
to co-market their products through shared booths at trade shows, joint email campaigns, combined
advertisements and webcasts, and other means of gaining visibility for the two related, pressure-based
product lines. They also plan to make sales calls together, when appropriate. The companies have also
begun discussions on the possibility of expanding the current Agreement to include cooperative research,
development, and manufacturing in the near future.

Mr. Richard T. Schumacher, President and CEO of US-based PBI, commented: “the two product lines
complement each other exceedingly well. While both the CS and PBI technologies are based on high
pressure, each product line has fundamental scientific capabilities that the other does not have. PBI’s
PCT Platform uses certain patented pressure mechanisms to achieve small-scale, molecular level effects.
CS’s technology uses different, proprietary pressure mechanisms for larger-scale, non-molecular level
processing. In a number of routine laboratory applications, such as protein extraction, both effects can be
critical to success. Therefore, for protein extraction and a number of other important scientific
applications, we believe laboratories will benefit by using the CS and PBI products, either separately or
together. This is a wonderful synergy of two well-respected, growing, and complementary product lines.”
Dr. Nate Lawrence, Vice President of Sales and Marketing at PBI, said: “we believe this is the beginning
of a long-lasting and mutually-beneficial relationship. CS, with their experience and expertise in high
pressure products, proven sales and marketing reach, and expansive and diverse life sciences customer
base outside of the US, is the perfect partner to help drive the installed base of PBI products
internationally. Concomitantly, we believe our access to multiple North American laboratories in
academia, government, biotech, and pharma, makes us the ideal partner for CS. We further believe that
our reputation and proven capabilities in the high pressure field will allow us to increase awareness of the
CS cell disruption products quickly and efficiently. Finally, we believe that one of the earliest, most
measurable results of this strategic partnership will be significantly increased revenue for both companies
in 2013, and beyond.”

About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (“PBI”) (OTCQB: PBIO) is focused on the development, marketing, and sale
of proprietary laboratory instrumentation and associated consumables based on Pressure Cycling
Technology (“PCT”). PCT is a patented, enabling technology platform with multiple applications in the
estimated $6 billion life sciences sample preparation market. PCT uses cycles of hydrostatic pressure
between ambient and ultra-high levels to control bio-molecular interactions. PBI currently focuses its
efforts on the development and sale of PCT-enhanced sample preparation systems (instruments and
consumables) for mass spectrometry, biomarker discovery, bio-therapeutics characterization, vaccine
development, soil and plant biology, forensics, histology, and counter-bioterror applications.

About Constant Systems, Ltd.
Constant Systems, Ltd (“CS”) is a British company that has been providing niche biomedical products
and services to a global client base since 1989. CS designs, develops, and manufactures high pressure
cell disruption equipment required by life sciences laboratories worldwide, particularly disruption systems
for the extraction of proteins. Our equipment provides a constant and controlled cell disruptive
environment, giving our clients superior, constant and reproducible results whatever the application. CS
has nearly 900 machines installed in over 40 countries worldwide.

Constant Systems is part of the Score Group plc, an international engineering business based in
Peterhead, Scotland. Score Group provides clients with a worldwide, around-the-clock range of
engineering solutions for valve sales and service, turbines, aerospace components, and cell disruption
equipment. Score Group employs over 1400 staff, and has annual sales that exceed $130 million.

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 statements include, without limitation, statements
regarding the anticipated benefits from the strategic partnership with Constant Systems, the likelihood
that it will lead to significantly increased sales in 2013 and beyond, and the continued growth from the
sale of PCT and cell disruption systems generally; that both the CS and PBI technologies complement
each other exceedingly well; that in a number of laboratory applications, including protein extraction,
both the CS and PBI technology effects can be critical to success, and that laboratories can benefit by
using both technologies, either separately or together; and the size of the life sciences sample preparation
market. 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: possible difficulties or delays in the implementation of the
Company’s strategies that may adversely affect the Company’s continued commercialization of its PCTbased
product line; changes in customer’s needs and technological innovations; the Company’s and CS’s
sales forces may not be successful in selling the Company’s and/or CS’s product lines because scientists
may not perceive the advantages of these products over other sample preparation methods; and if actual
operating costs are higher than anticipated, or revenues from product sales are less than anticipated, the
Company may need additional capital sooner than anticipated. Further, given the uncertainty in the capital
markets and the current status of the Company’s product development and commercialization activities,
there can be no assurance that the Company will secure the additional capital necessary to fund its
operations beyond December 2012 on acceptable terms, if at all. Additional risks and uncertainties that
could cause actual results to differ materially from those indicated by these forward-looking statements
are discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2011, 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.

PBI filed a registration statement (including a prospectus) with the SEC for an offering to which this
communication may relate. Before you invest, you should read the prospectus in that registration
statement for the offering and other documents PBI has filed with the SEC for more complete information
about PBI and the offering. You may get these documents for free by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, PBI can arrange to send you the prospectus, when available, upon
request.

For more information about PBI and this press release, please click on the following links:
http://www.pressurebiosciences.com
http://www.constantsystems.com

Pressure BioSciences, Inc. Reports Record PCT Product Sales in Q3 2012

admin — Thu, 15 Nov 2012 19:52:52 +0000

37% Increase in PCT Product Sales and 40% Increase in Total Sales Reported for Q3 2012 vs. Prior Year Period; 57% Revenue Increase in Total Sales Reported Year-to-Date in 2012 vs. Prior Year Period; Total Revenue Through Three Quarters of 2012 Exceeds Total Revenue for All of 2011

SOUTH EASTON, MA November 15, 2012–Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”) today announced financial results for the three and nine month periods ended September 30, 2012 and provided a business update.

Total revenue for the third quarter of 2012 was $391,616 compared to $280,422 for the comparable period in 2011, a 40% increase. Revenue from the sale of Pressure Cycling Technology (“PCT”) products and services was $297,867 for the third quarter of 2012 compared to $217,734 for the same period in 2011, a 37% increase. Grant revenue in the third quarter of 2012 was $93,749 compared to $62,688 for the same period in the prior year. The Company installed eight PCT Sample Preparation Systems (“PCT Systems”) during both quarters. Sales of PCT-based consumables generated revenue of approximately $28,000 for the three months ended September 30, 2012 compared to approximately $21,000 for the same period in 2011, an increase of 33%.

Operating loss for the third quarter of 2012 was $686,520, compared to $745,811 for the same period in 2011, a decrease of approximately 8%. After the exclusion of non-cash charges, operating cash burn for the 2012 third quarter was approximately $507,000 compared to approximately $658,000 for the third quarter of 2011, a decrease of approximately 23%.

Total revenue for the nine months ended September 30, 2012 was $1,022,185 compared to $651,751 for the same period in 2011, a 57% increase. Revenue from the sale of PCT products and services was $687,023 for the nine months ended September 30, 2012 compared to $589,063 for the same period in 2011, a 17% increase. During the first nine months of 2012, the Company installed 23 PCT Systems compared to 25 in the same period of the prior year. Sales of PCT-based consumables generated revenue of approximately $67,000 for the nine months ended September 30, 2012 compared to approximately $60,000 for the same period in 2011, a 12% increase.

Operating loss for the nine months ended September 30, 2012 was $2,333,892 compared to $2,421,707 for the same period in 2011. After the exclusion of non-cash charges, operating cash burn for the nine months ended September 30, 2012 was approximately $1,997,000, compared to approximately $2,150,000 for the same period in 2011.

Loss per common share – basic and diluted – was $0.09 for the third quarter of 2012 compared to $0.15 for the same period in 2011. Loss per common share – basic and diluted – was $0.34 for the nine months ended September 30, 2012 compared to $0.50 for the same nine month period of 2011.

Joseph L. Damasio, Vice President of Finance and Administration, said: “Our financial results continue to improve. We reported record sales of PCT Products in Q3 2012, as well as a 57% increase in total revenue through the third quarter of 2012, compared to the same period in 2011. We also reported that revenue for the first nine months of 2012 exceeded $1,000,000 – a level not reached over all four quarters of 2011. Orders from new distributors, sales of products released over the past year, and an increase in grant billings accounted for the majority of this increase.”

Mr. Damasio continued: “We worked hard to increase revenue while reducing our operating loss, with evident success for both. On the financing side, we received approximately $600,000 in short-term loans from five investors during the third quarter, including two members of the Board of Directors. We are very pleased with our financial performance for both the third quarter and the year-to-date period ending September 30, 2012.”

Richard T. Schumacher, President and CEO of PBI, commented: “In addition to our strong financial results, we reported a number of operational and technical achievements during the third quarter as well. These included publications and/or presentations on the advantages of our patented Pressure Cycling Technology (“PCT”) Platform in the forensic, biological threat, infectious diseases, and contaminated food products areas, as well as in tests used to study the cause, prevention and treatment of disease. In addition, it was recently announced that Cole Parmer, one of the largest and best known distributors of laboratory equipment and consumables worldwide, has become a distributor of the PBI Shredder SG3 System.”

Mr. Schumacher continued: “A number of important goals remain for 2012. Among these are eliminating our short-term investor debt; securing at least one additional strategic distribution partner; continuing with revenue increases and cost reductions; and making measurable progress on the development of what we believe are new, game-changing, PCT-based instruments. But most importantly, we need to improve our financial condition. Based on our accomplishments to date, we believe we will achieve success in these areas during the 2012 fourth quarter, and that this success, together with the achievements previously reported, will have a positive effect on the value of PBI for all of our shareholders.”

About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (“PBI”) (OTCQB: PBIO) is focused on the development, marketing, and sale of proprietary laboratory instrumentation and associated consumables based on Pressure Cycling Technology (“PCT”). PCT is a patented, enabling technology platform with multiple applications in the estimated $6 billion life sciences sample preparation market. PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions. PBI currently focuses its efforts on the development and sale of PCT-enhanced sample preparation systems (instruments and consumables) for mass spectrometry, biomarker discovery, bio-therapeutics characterization, vaccine development, soil and plant biology, forensics, histology, and counter-bioterror applications.

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. Forward looking statements include the estimated size of the life sciences sample preparation market; the Company’s plans and ability to secure sufficient financing to support working capital needs; statements related to the strong financial and operating results of the third quarter of 2012, and the nine months ended September 30, 2012, and the Company’s expectations of its financial results for the fourth quarter of 2012 and for the year ending December 31, 2012; statements regarding our strategic partnerships and the likelihood that they will lead to future sales in 2012 and to the continued growth in revenue from the sale of PCT products generally; statements that the increase in revenues and reduction in costs will continue into the fourth quarter of 2012 and beyond; that we will report success on the remaining goals for 2012, including the future PCT-based instruments, and that these successes will result in a positive effect on the value of PBI for all shareholders; and that these new, future instruments will be “game-changing”. 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 Company’s financial results for the quarter and nine months ended September 30, 2012 may not necessarily be indicative of future results as future revenues may not meet expectations due to the possible failure of the Company’s products to achieve commercial acceptance, changes in customer’s needs and technological innovations, expenses may be higher than anticipated due to unforeseen costs or cost increases, and the Company may not secure sufficient capital to implement its plans; possible difficulties or delays in the implementation of the Company’s strategies that may adversely affect the Company’s continued commercialization of PCT; and the Company may not be successful in selling its PCT product line because scientists may not perceive the advantages of PCT over other sample preparation methods. Further, the Company will require additional working capital to fund its operations beyond the end of December, 2012 and there can be no assurance that the Company will be successful in obtaining such financing on acceptable terms, if at all. Additional risks and uncertainties that could cause actual results to differ materially from those indicated by these forward-looking statements are discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, 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



Consolidated Statements of Operations
(Unaudited)

			For the Three Months Ended						For the Nine Months Ended
			September 30,						September 30,
			2012			2011			2012			2011

Revenue:
	PCT products, services, other		$	297,867		$	217,734		$	687,023		$	589,063
	Grant revenue			93,749			62,688			335,162			62,688
		Total revenue		391,616			280,422			1,022,185			651,751

Costs and expenses:
	Cost of PCT products and services			108,689			93,610			296,086			250,835
	Research and development			247,717			248,188			775,635			730,962
	Selling and marketing			164,313			193,975			570,578			740,358
	General and administrative			557,417			490,460			1,713,778			1,351,303
		Total operating costs and expenses		1,078,136			1,026,233			3,356,077			3,073,458

		Operating loss		(686,520	)		(745,811	)		(2,333,892	)		(2,421,707	)

Other (expense) income:
	Interest (expense) income			(10,540	)		(39,358	)		(71,067	)		(39,029	)
	Change in fair value of warrant derivative liability			(98,978	)		223,446			36,322			307,467
		Total other (loss) income		(109,518	)		184,088			(34,745	)		268,438

	Net loss			(796,038	)		(561,723	)		(2,368,637	)		(2,153,269	)
	Accrued and deemed dividends on convertible preferred stock			(129,789	)		(392,123	)		(895,734	)		(939,574	)
	Net loss applicable to common shareholders		$	(925,827	)	$	(953,846	)	$	(3,264,371	)	$	(3,092,843	)


	Net loss per share attributable to common stockholders – basic and diluted		$	(0.09	)	$	(0.15	)	$	(0.34	)	$	(0.50	)

	Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation			10,872,877			6,253,349			9,598,066			6,228,585

Consolidated Balance Sheets

			September 30,			December 31,
ASSETS			2012			2011
CURRENT ASSETS				(Unaudited	)		(Audited	)
	Cash and cash equivalents		$	50,289		$	222,775
	Accounts receivable, net of allowances of $0 at September 30, 2012 and $9,600 at December 31, 2011			294,945			269,237
	Inventories			905,653			1,069,013
	Prepaid income taxes			7,381			4,739
	Prepaid expenses and other current assets			510,446			143,591
		Total current assets		1,768,714			1,709,355
PROPERTY AND EQUIPMENT, NET				43,257			89,171
OTHER ASSETS
	Deposits			6,472			6,472
	Intangible assets, net			97,288			133,762
TOTAL ASSETS			$	1,915,731		$	1,938,760
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES
	Accounts payable		$	1,186,547		$	890,676
	Accrued employee compensation			131,380			180,437
	Accrued professional fees and other			295,442			247,738
	Deferred revenue			27,084			36,669
	Promissory note			161,022			150,000
	Short-term loans			356,127			-
	Convertible debt, net of unamortized discount of $0 at September 30, 2012 and $17,088 as of December 31, 2011			-			394,912
	Make-whole dividend liability			217,638			-
	Warrant derivative liability			267,566			436,553
		Total current liabilities		2,642,806			2,336,985
LONG TERM LIABILITIES
	Deferred revenue			3,764			10,111
TOTAL LIABILITIES				2,646,570			2,347,096
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ DEFICIT
	Series C convertible preferred stock, $.01 par value; 88,098 shares authorized; 0 shares issued and outstanding on September 30, 2012 and 88,098 shares issued and outstanding on December 31, 2011			-			881
	Series D convertible preferred stock, $.01 par value; 850 shares authorized; 300 shares issued and outstanding on September 30, 2012 and 743 shares issued and outstanding on December 31, 2011 (Liquidation value of $300,000)			3			7
	Series E convertible preferred stock, $.01 par value; 500 shares authorized; 250 shares issued and outstanding on September 30, 2012 and 0 shares issued and outstanding on December 31, 2011 (Liquidation value of $250,000)			3			-
	Series G convertible preferred stock, $.01 par value; 240,000 shares authorized; 120,095 shares issued and outstanding on September 30, 2012 and 0 shares issued and outstanding on December 31, 2011 (Liquidation value of $600,000)			1,201			-
	Common stock, $.01 par value; 20,000,000 shares authorized; 11,189,612 shares issued and outstanding on September 30, 2012 and 6,723,993 shares issued and outstanding on December 31, 2011			111,896			67,240
	Warrants to acquire preferred stock and common stock			2,932,137			2,203,101
	Additional paid-in capital			15,741,825			13,823,875
	Accumulated deficit			(19,517,904	)		(16,503,440	)
		Total stockholders’ deficit		(730,839	)		(408,336	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT			$	1,915,731		$	1,938,760