Companies Believe the Integration of PBI's Patented
PCT-based Instruments with LEAP's Proprietary Laboratory
Automation Equipment will Result in a Significantly
Improved Sample Preparation System for Proteomics Research
as well as Increased Sales for Both Firms
SOUTH EASTON, Mass., May 7, 2012 /PRNewswire via COMTEX/ -
Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI") and LEAP
Technologies ("LEAP"), (together "the companies"), today
announced the signing of a strategic co-development,
co-marketing, and co-selling agreement (the "Agreement").
Under the Agreement, the companies plan to develop a next
generation sample preparation system by combining PBI's
patented pressure cycling technology ("PCT") platform with
LEAP's proprietary robotics and lab automation equipment.
The companies share an industry focus in proteomics sample
preparation, primarily in mass spectrometry. PBI and LEAP
believe that by combining the best attributes of both
technology platforms, they can develop a sample preparation
system superior in quality and robustness to current
methods.
Proteomics is the study of the structure and function of
proteins. The number of researchers studying proteomics has
grown in recent years. Their studies have provided new and
important insights into human health, and have resulted in
a better understanding of diagnosis, prevention, control,
prognosis, and possible cures of various diseases and
clinical conditions. High-quality sample preparation is
critical to proteomic research studies. To that end,
automated sample preparation methods increase the precision
and quality of laboratory testing, which in-turn increases
the probability of discovery. Increased discovery leads to
the development of new and improved vaccines, therapeutics
and diagnostics.
Mr. Werner Martin, CEO of LEAP Technologies, said: "PCT is
a powerful and enabling technology platform. Because of its
clear advantages, mass spectrometry laboratories have begun
to integrate PCT into their standard sample preparation
workflow, even though the PCT method has not yet been fully
automated. This has created a wonderful opportunity for us
to partner with Pressure BioSciences, as we have the
experience and expertise to bring automation to their
patented PCT Platform. Over the past 20 years, we have
developed a strong reputation in robotics and laboratory
automation while working with many of the leading life
sciences companies in the world, such as Waters Corporation
and Agilent Technologies. With a growing need for
automation, we look forward to developing, marketing, and
selling the next generation sample preparation system for
proteomics with our colleagues at PBI."
Mr. Richard T. Schumacher, President and CEO of PBI,
remarked: "We are very excited to have this opportunity to
partner with a well-established and universally respected
robotics and lab automation company like LEAP. We already
have a foothold in the mass spectrometry sample preparation
area, but the ability to build PCT into an automated
workflow using LEAP's proprietary equipment and software
should help us increase our penetration in the mass
spectrometry area, and in other areas of the estimated $6
billion life sciences sample preparation market. We believe
that this added penetration will result in increased
revenue for both PBI and LEAP in 2012, and beyond."
About LEAP Technologies
LEAP Technologies has been providing proprietary robotics
and laboratory automation equipment and support for
specific applications for over 20 years. LEAP's automation
solutions allow the research scientist to walk away and run
their samples unattended (such as overnight). LEAP has
become the automation application "house of choice" to
which even the large analytical instrument companies refer
their customers. LEAP's name is synonymous with great
support, and with flexible and innovative ideas. With
today's digital communication and fast proliferation of new
analytical techniques, LEAP successfully offers its
value-added products and services worldwide (world wide
support network) through a carefully selected network of
smaller companies that share the same spirit.
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 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 forward looking statements include statements
regarding the relationship between the companies; the
estimated size of the life sciences sample preparation
market; the companies' plans to develop a next generation
sample preparation system; the advantages of PCT over other
sample preparation methods; that the study of proteins can
provide new insights into understanding human health and
disease; that high quality sample preparation is critical
to proteomics research; that automated sample preparation
methods can increase precision and quality of results, and
can increase the probability of the discovery and
development of new vaccines, therapeutics, and diagnostics;
that mass spectrometry laboratories have begun to
incorporate PCT into their sample preparation workflows;
that there is a growing need for robotics and automation in
life sciences laboratories; that PBI already has a foothold
in the mass spectrometry area; that integrating PCT with
LEAP's equipment and software should help increase market
penetration; and that increased market penetration should
increase revenue for PBI and LEAP. 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: possible
difficulties, delays and additional costs in the
implementation of PBI's strategies that may adversely
affect the commercialization of PCT and PCT-dependent
products, including the development of a next generation
sample preparation system with LEAP; due to differences in
strategies between LEAP and PBI, and unforeseen scientific
impediments to the integration of PCT with the LEAP
robotics and automation equipment, the collaboration may
not result in a successful next generation sample
preparation system, or in a successful co-marketing and
co-selling relationship; changes in customer needs and
technological innovations; PBI's and LEAP's sales forces
may not successfully sell the next generation sample
preparation system because scientists may not perceive the
advantages of the system over other available methods; and
the Company may not be successful in raising additional
capital necessary to fund the Company's operations. 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 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 LEAP Technologies,
please click on the following links: http://www.pressurebiosciences.com
http://www.leaptec.com
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