SOUTH EASTON, Massachusetts, June 4, 2020 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, cosmeceuticals, nutraceuticals, and food & beverage industries, today announced the receipt of an order for the 12th and final system scheduled to be built in the Company's initial manufacturing run of its revolutionary BaroShear™ K45 processing system. Based on the Company's proprietary Ultra Shear Technology™ (UST™) platform, the BaroShear K45 is a unique and powerful nanoemulsification system designed to resolve one of the most critical problems facing the global hemp-derived cannabinoid industry today: how to make hemp-derived cannabinoid oil effectively soluble in water, to optimize absorption and bioavailability when consumed or applied. The cannabidiol market is projected to exceed $20B by 2024 (Forbes, May 2019).
Hemp-derived cannabinoids are extracted from the hemp plant in an oil. As with any oil-based product, it is difficult for the water-based biology of our human bodies to access and absorb the tiny hemp-derived cannabinoid molecules that are hidden within hemp oil drops. These drops remain relatively large after traditional aggressive emulsification methods, which results in poor and variable absorption levels of hemp-derived cannabinoid molecules in the body for the treatment of targeted conditions. Low or widely varying levels of hemp-derived cannabinoid absorption and biological accessibility is a critical issue that may significantly impact the bioavailability and effectiveness of the potential benefits of hemp-derived cannabinoid products on the market today.
The Company previously announced plans for its first manufacturing run of twelve (12) BaroShear K45 processing systems with estimated completion times during the fourth quarter of 2020. Due to inefficiencies caused by the COVID-19 pandemic, the Company now believes that all 12 systems will be completed in time for shipment and installation to occur during the first quarter of 2021.
Mr. Kenneth F. Micciche, Director of PBI's UST Program, said: "The order for the last available BaroShear K45 system from our initial production run was received from an exciting young company out of Massachusetts called Canopy CBD Farms, LLC. The senior management of Canopy CBD Farms is comprised of very knowledgeable and experienced entrepreneurs and business leaders. They have already garnered the trust and loyalty of countless businesses in or entering in the commercial industrial hemp space. They use only the highest quality hemp biomass available and the latest processing technologies to meet or exceed industry standards. We are very pleased to have them as a customer."
Mr. John Westlake, Founder and President of Canopy CBD Farms, LLC., commented: "Scientific data strongly supports the critical understanding that hemp-derived cannabinoid oil needs to be processed into an effectively water-soluble, long-term stable nanoemulsion to achieve the highest quality hemp-derived cannabinoid products possible. After an exhaustive review of available technologies, a thorough evaluation of UST-processed hemp-derived cannabinoid materials, and a detailed and encompassing site visit, we concluded the BaroShear K45 was unmatched in the universe of nanoemulsion processing platforms. As we are dedicated to using only the best equipment in our own manufacturing, and convinced that the BaroShear K45 will give us many competitive advantages in the marketplace, it was an easy decision for us to place this order for the 12th and last BaroShear K45 system in PBI's initial manufacturing run."
Mr. Richard T. Schumacher, President and CEO of PBI, commented: "We are extremely gratified and excited that the initial manufacturing run of our BaroShear K45 processing systems has sold out. We are also pleased that an impressive, up-and-coming company like Canopy CBD Farms was able to participate in and place an order for the final available unit in our first manufacturing run. We are confident that the BaroShear K45 will differentiate them in the marketplace with a substantial advantage over their competition."
Mr. Schumacher continued: "Much progress has been made in the development of this very novel and innovative nanoemulsification processing system. We have finished the development of and run many processing cycles with the test bed. Our team is now beginning development of the BaroShear K45 alpha (first) unit. We expect to complete this unit by the end of September 2020 so it will be available for testing by the companies who placed the initial 12 orders. Upon their approval, we expect to ship and install all 12 BaroShear K45 systems during Q1 2021, at which point we will recognize approximately $2.4 million in revenue. This is a very exciting milestone event for all shareholders in Pressure BioSciences."
About Canopy CBD Farms, LLC.
Canopy CBD Farms is a state licensed Massachusetts hemp processor and manufacturing company. Foreseeing the future of government regulations, we are strategically aligning ourselves with established FDA registered laboratories and manufacturers to bring the highest of standards and quality of hemp-derived CBD products. Canopy CBD farms serves pharmaceutical and medical research companies, wishing to establish white label/co-branded manufacturing partnerships with cGMP, GLP manufacturers. Our partnerships will increase wholesale and retail distribution channels, with a ready to label line of high quality, salable hemp-derived CBD products, for a variety of uses and industries.
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences and other industries. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions safely and reproducibly (e.g., cell lysis, biomolecule extraction). Our primary focus is in the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired, patented technology from BaroFold, Inc. (the "BaroFold" technology) to allow entry into the bio-pharma contract services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology ("UST") platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g., oils and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies.
Forward Looking Statements
This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," estimates," "predicts," "projects," "potential" or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. These and other factors may cause our actual results to differ materially from any forward-looking statement. 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, 2018, 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. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
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Richard T. Schumacher, President and CEO
(508) 230-1828 (T)
Kenneth F. Micciche, Director – UST Program
(508) 230-1829 (F)
SOURCE Pressure BioSciences, Inc.