Pressure BioSciences, Inc. : Announces Co-Marketing/Selling and Instrument Co-Development Agreement with Digilab, Inc.
01/11/2012| 12:43pm US/Eastern

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?Leading Life Sciences Tools Manufacturers for the Research
Laboratory to Collaborate
on the Development, Marketing, and Sale of State-of-the-Art
Sample Preparation Products
South Easton, MA, January 11, 2012 - Pressure BioSciences,
Inc. (NASDAQ: PBIO) ("PBI") and Digilab, Inc. ("Digilab"),
(together "the companies"), today announced that they have
entered into a co-marketing/selling and research and
development agreement. The companies intend to co-market and
sell their respective product lines worldwide, including in
industry publications, at scientific meetings, on each
company's website, through common collaborator studies, at
key industry trade shows, and in visits to customer sites.
PBI and Digilab also intend to explore ways to co-develop new
instrumentation, accessories/modules for existing
instrumentation, and consumables that combine the robotics
and high throughput capabilities of Digilab products with the
extraction, protein digestion, and other advantages of PBI's
Pressure Cycling Technology ("PCT") Platform.
One of the most significant problems in protein studies today
is the proper preparation of a sample prior to its analysis.
Poor sample preparation can lead to inaccurate results.
Digilab and PBI believe that a combination of their
respective proprietary technology platforms will provide
scientists with an improved, more reproducible, integrated
workflow to better address important sample preparation
issues that are routinely encountered by scientists in the
estimated 80,000 biological research laboratories worldwide.
Mr. Sidney Braginsky, Chairman and CEO of Digilab, said: "We
believe that Digilab's suite of sample preparation, liquid
handling, and identification products, coupled with PBI's
unique pressure-based technology platform and PCT products,
will offer the research scientist greatly enhanced sample
preparation tools with a higher degree of reproducibility,
versatility, throughput, and overall quality than currently
available. We believe this will result in increased sales and
visibility for both Digilab and PBI.
Mr. Richard T. Schumacher, President and CEO of Pressure
BioSciences, said: "Digilab and PBI share the same sample
preparation target market. We routinely find ourselves
attending many of the same scientific meetings, advertising
in many of the same media outlets, and collaborating with
many of the same thought leaders in the field."
Mr. Schumacher continued: "PBI's sales and marketing
activities are currently performed with four dedicated staff
members and three distribution partners. These efforts will
be greatly enhanced by the Digilab sales and marketing team
of five staff members and their broad distribution network of
over twenty distributors worldwide. Similarly, our sales and
marketing team will assist Digilab in broadening the reach of
their sales activities. Consequently, we believe that this
alliance will greatly facilitate the introduction of our
respective sample preparation product lines to research
laboratories worldwide, but without the need to increase
sales staff, marketing budgets, and time at scientific
meetings. We believe this is a very cost-effective way to
significantly increase market penetration and increase sales
for both companies. We expect to begin to see these increased
sales results during the first half of 2012."
About Digilab, Inc.
Digilab, Inc. provides imaginative, value-adding solutions
for scientific discovery in life sciences, analytical
chemistry, and diagnostics markets. Products span DNA sample
preparation systems for sequencing, protein and DNA micro
arrayers, live cell arrayers, proteome preparation systems,
nano & micro fluidic handling, and Raman compound
identification. Digilab is identified by- and built on- the
excellent reputation of its acquired brands including Genomic
Solutions, Investigator, GeneMachines, Cartesian Dispensing
Systems, BioRobotics, SpectraCode, and Maia Scientific. In
addition, Digilab has developed its own live cell printer,
the CellJet, and high throughput screening Raman reader, the
Identity. These brands have well established global presence
from the thousands of customers worldwide.
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. ("PBI") (NASDAQ: 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. Such forward-looking statements include
statements regarding the expected advantages of PBI's PCT
product line in combination with the Digilab product line;
that the collaboration between PBI and Digilab will result in
increased sales for both companies with minimal increased
costs; and the size of the biological sample preparation
market. These statements are based upon PBI'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 or business issues
in the implementation of the collaboration between PBI and
Digilab that may impede or prevent the achievement of the
expected advantages of the collaboration; due to unforeseen
technical difficulties, or marketing, sales, and distribution
difficulties, the technologies of PBI and Digilab may not be
adopted by the scientific community as an accepted workflow
for sample preparation or the scientific community may not
perceive the benefits of PCT for sample preparation; the
co-marketing and sales activities of PBI and Digilab may not
result in generating any additional sales for either PBI or
Digilab; that due to unforeseen technical or business
difficulties, PBI and Digilab may not identify a mutually
acceptable plan to co-develop new products; if actual
operating costs are higher than anticipated, or revenues from
product sales are less than anticipated, the Company may need
additional capital prior to March 2012; and if the Company
fails to achieve its plan to regain compliance with the
NASDAQ Listing Rules for minimum stockholders' equity and the
minimum bid price of $1.00 per share, the Company's common
stock will be delisted from The NASDAQ Capital Market.
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, 2010, as amended, 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 the 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.
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