Pressure BioSciences, Inc. and LEAP Technologies, Inc. Announce Co-Development, Co-Marketing, & Co-Selling Agreement 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/ -- 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.
Richard T. Schumacher, CEO, Pressure BioSciences, Inc.
508) 230-1828 (T)
Werner Martin, CEO, LEAP Technologies
919) 929-8814 (T)
SOURCE Pressure BioSciences, Inc.