Pressure BioSciences, Inc. Continues Global Sales Reach Expansion with Distribution Agreements for China, Vietnam, Laos, Cambodia, Australia, and New Zealand
Company Reiterates Guidance for Continued Strong Revenue Growth Throughout 2012 as its PCT Products Commercialization Plan Unfolds
SOUTH EASTON, Mass., July 12, 2012 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company") today announced a continuation in the growth of its global sales reach by entering into distribution agreements with three companies having combined sales coverage in six new countries. This brings to eleven the number of additional countries over the past seven months where the Company's patented, powerful, and enabling Pressure Cycling Technology ("PCT") sample preparation instrument and consumable products are now being offered for sale.
For China, the Company entered into an exclusive distribution agreement with the Yinzhou Police Equipment & Technology Co., Ltd. (Guangzhou, China) for its PCT product line and a non-exclusive agreement for its patent-pending, mechanical homogenization device, the Shredder SG3, and associated consumables. This Agreement allows Yinzhou to market and sell PBI products into the forensics marketplace only. Ms. Gechen Wang, the director of Yinzhou, is a former graduate student of Dr. Henry C. Lee, the world famous forensic scientist with whom PBI has been collaborating since March 2012. PBI plans to add one or more additional distributors in China for representation outside of the forensics area during the second half of 2012.
For Vietnam, Cambodia, and Laos, the Company entered into an exclusive distribution agreement with BMN MSI., Ltd. (Hanoi, Vietnam) for its PCT product line and a non-exclusive agreement for the Shredder SG3 homogenization device and associated consumables. For Australia and New Zealand, the Company entered into an exclusive distribution agreement with iScience Technology (Melbourne, Australia) for its PCT product line, and a non-exclusive agreement for the Shredder SG3 homogenization device and associated consumables.
Mr. Richard T. Schumacher, President and CEO of Pressure BioSciences, said: "During the first half of 2012, we added four strategic US partners and four international distributors to help us aggressively market and sell our novel PCT instruments and consumables. Initial orders have already been received from several of these new partners/distributors. We believe that the number of such orders will continue to increase, that products and programs planned for market release during the second half of 2012 will positively impact revenue this year, that the number of PCT applications will continue to grow, that the number of publications and presentations that cite the benefits of PCT in sample preparation will continue to expand, and that the number of research scientists introduced to the advantages of PCT will continue to increase. We further believe that the combination of these factors will result in significantly greater revenue in 2012 compared to 2011."
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.
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 expected increase in 2012 revenue as compared to 2011; that product orders will continue to increase from partners/distributors in future quarters; the release of certain products and programs during the second half of 2012; that the number of PCT Platform applications will continue to grow; that the number of research scientists who get introduced to PCT will continue to increase; and the anticipated benefits from the distribution agreements with BMN MSI., Ltd., iScience Technology, Yinzhou Police Equipment & Technology Co., Ltd., and the five strategic partners/distributors that the Company signed agreements with earlier in 2012. 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, including the expansion of sales to laboratories in Vietnam, Cambodia, Laos, China, Australia, and New Zealand; 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; 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 August 2012. 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 August 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 link:
Richard T. Schumacher, President & CEO
Pressure BioSciences, Inc.
Nate Lawrence, Vice President of Sales & Marketing
(508) 230-1828 (T)
SOURCE Pressure BioSciences, Inc.
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