SOUTH EASTON, Mass., Dec. 11 Pressure BioSciences, Inc. (Nasdaq: PBIO) ("PBI" or the "Company") and Omni International ("Omni") today announced that they have entered into a strategic marketing, distribution, and technology co-development Agreement. Under the terms of the Agreement, the companies will: (1) share market data, customer leads, technology assessments, and competitive information; (2) co-promote certain products at industry trade shows beginning in 2009; (3) license Omni to sell PBI's recently released, patent-pending PCT Shredder to laboratories worldwide; and (4) co-develop new instrumentation and consumables that combine the homogenization capabilities of Omni with the extraction capabilities of PBI, in an effort to provide research scientists with a targeted approach to better solve certain sample preparation issues.
Mr. Karl Jahn, President of Omni, said: "PBI is the leading company in the world in providing laboratory scale, ultra-high pressure cycling instrumentation for biomolecule extraction. Omni has been one of the world's leading suppliers of laboratory scale homogenizers for decades. Our two companies' technologies are extremely complementary and synergistic. To that end, we believe that combining the advantages of both technologies could offer the customer a range of solutions to ensure efficient extraction for many sample types, particularly those that continue to pose challenges in sample preparation. We are therefore pleased to have PBI, with its wealth of experience, novel technology, and IP, as a strategic business partner, and we look forward to working with them in developing an entirely new concept in solution-based products for the large sample preparation market."
Mr. Jahn continued: "We also look forward to marketing and selling the PCT Shredder in early 2009. This novel, patent-pending device uses a unique approach to extract high yields of nucleic acids, proteins, lipids, and small molecules from tough, fibrous, and other difficult-to-disrupt samples, such as muscle, skin, plant cell walls, and insects, and with minimal damage to fragile molecules. We believe this product fills an existing customer need, and that utilizing our very effective worldwide distribution network, we can be highly successful in placing this product within our existing customer base. And since the PCT Shredder uses a similar processing container (PULSE Tube(C)) as used in PBI's PCT Sample Preparation System, successful placement of the PCT Shredder can lead not only to revenue for both companies, but also to increased visibility of PBI's PCT Sample Preparation System."
Mr. Jahn concluded: "PBI has publicly disclosed that they are actively seeking to raise additional capital through equity financing under terms consistent with shareholder approval obtained on September 25, 2008. We will be participating in this financing, as we believe that the technology is sound, the market is large, the future is very bright, and because we want to be an integral part of the new, refocused PBI.
Mr. Richard T. Schumacher, President, and CEO of PBI commented: "Omni has an extensive homogenization product line (including high throughput automated equipment) that has been recognized for years for its quality and dependability. They continually develop new and improved homogenization products to satisfy changing customer needs. They have also been very successful in marketing and distributing their products through effective distribution channels in every major market in the world. We are very pleased to have the opportunity to work with Karl and his team to aggressively distribute the PCT Shredder worldwide, and also to co-develop a new concept in laboratory-scale sample preparation that combines the advantages of both homogenization and PCT extraction."
About Omni International
Since 1956, with the introduction of the Omni Mixer, the name Omni has been synonymous with homogenization. It's Omni's only business, only focus, and core competence. Omni has a seasoned and knowledgeable staff whose only job is to ensure that their customer's homogenizing needs are met with total satisfaction. Omni offers a broad range of homogenizing products - including mechanical shear, ultrasonic, mortar and pestle, and bead mills - in order to provide customers with the optimal solution to any homogenizing problem.
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (PBI) is a publicly traded company focused on the development of a novel, enabling technology called pressure cycling technology (PCT). PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels (up to 35,000 psi and greater) to control bio-molecular interactions. PBI currently holds 13 US and 6 foreign patents covering multiple applications of PCT in the life sciences field, including such areas as genomic and proteomic sample preparation, pathogen inactivation, the control of chemical (particularly enzymatic) reactions, immunodiagnostics, and protein purification.
Forward Looking Statements
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 forward looking statements include statements regarding the expected advantages of the Company's PCT Shredder, alone or in combination with the Company's Pressure Cycling Technology Sample Preparation System (PCT SPS), over other currently available sample preparation methods for processing muscle, skin, plant cell walls, insects, and other very tough samples; the breadth of applications afforded by PCT; that exposure at industry trade shows will help PBI reach its goal of worldwide market leadership and greater visibility in high pressure bioscience and biotechnology; the advantages of PCT SPS over competitive processes; size of the sample preparation market; that a strategic business relationship with Omni will help introduce PCT to other laboratories worldwide, will increase revenue of the PCT Shredder, and that Omni and PBI will successfully develop a new concept of solution-based, sample preparation products; that the technologies of PBI and Omni are complementary and synergistic; the customer needs that may be addressed by the PCT Shredder in combination with Omni's homogenization technology; and the Company's goal of gaining greater market acceptance and penetration, and leadership in the worldwide sample preparation field. 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: unforeseen technological difficulties that the Company may encounter in the development of the PCT technology, products using the PCT technology, and, in cooperation with Omni, a new concept of solution-based, sample preparation products; due to such unforeseen technical difficulties, or marketing, sales, and distribution difficulties, the PCT Shredder and the PCT Sample Preparation System may not be adopted by the scientific community as an accepted method of bio-molecule extraction, even with the expected strategic business relationship with Omni; due to the Company's limited financial resources, if the Company is unable to secure financing, it will be forced to substantially curtail its planned operations which will limit the Company's ability to achieve market acceptance and penetration and its ability to become profitable; and the other 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, 2007 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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SOURCE Pressure BioSciences, Inc.