SOUTH EASTON, Mass., June 15, 2015 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company"), a worldwide leader in the development and sale of high pressure-based sample preparation systems to the life sciences research market, today announced its selection by the National Human Genome Research Institute of the National Institutes of Health ("NIH") to showcase its pressure cycling technology ("PCT") platform at the 2015 BIO International Convention. NIH has partnered with BIO to provide select SBIR grantees with premier visibility at BIO through participation in the newly created Innovation Zone. Earlier this year, PBI announced they had been awarded an SBIR Phase II grant of over $1,000,000, payable over two years. BIO 2015 is being held June 15-18, 2015 in Philadelphia, PA.
BIO is the world's largest trade association representing more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings, all in an effort to continue to fulfill its vision of bettering the world through biotechnology innovation.
Dr. Lenka Fedorkova, NIH SBIR/STTR program manager, said: "NIH is committed to supporting exceptional innovation through the Small Business Innovation Research ("SBIR") Program. The early-stage companies showcased in this year's Innovation Zone highlight some of the most promising technologies and significant non-dilutive investments that we hope will achieve commercial success and significantly advance human health. In order to move toward this goal, however, these companies require critical partnerships and capital. I encourage attendees to meet with our companies and explore the featured exhibits and presentations."
"The technology behind some of today's greatest innovations have come from inventive small companies," said Jesus Soriano, a program director for NSF's SBIR/STTR program. "World-class tradeshows like the BIO Convention offer federally supported tech pioneers -- who have big ideas, but limited resources -- the opportunity to showcase their emerging research. This year, dozens of NSF-funded companies and several academic laboratories with prototypes will be available to talk about their high-risk, high-reward projects, which will span a wide range of topics from new therapeutic platforms to detection methods."
Dr. Nate Lawrence, Vice President of Marketing and Sales for PBI, commented: "We are honored to be selected by the NIH/NSF as one of a select group of grantee companies to showcase powerful and enabling technology in the Innovation Zone at BIO 2015, the single largest gathering of biotechnology professionals in the world. We believe that participation in the Innovation Zone will give PBI and our PCT platform, premier visibility to an estimated 15,000 attendees, including potential customers, collaborators, and investors."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. ("PBI") (OTCQB: PBIO) develops, markets, and sells proprietary laboratory instrumentation and associated consumables to the estimated $6 billion life sciences sample preparation market. 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 safely and reproducibly control bio-molecular interactions. To date, we have installed over 250 PCT systems in approximately 160 sites worldwide. There are over 100 publications citing the advantages of the PCT platform over competitive methods, many from key opinion leaders. Our primary application development and sales efforts are in the biomarker discovery and forensics areas. Customers also use our products in other areas, such as drug discovery & design, bio-therapeutics characterization, soil & plant biology, vaccine development, 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. 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, 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, 2014, 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.
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Richard T. Schumacher, President and CEO (508) 230-1828 (T)
Jeffrey N. Peterson, Chairman (650) 812-8121 (T)
SOURCE Pressure BioSciences, Inc.