Company Signs Development & Manufacturing Agreement with Safer Medical of Montana for Formulation, Pilot Batches, and Commercial Production of CBD Topical Spray for Pain Reduction
SOUTH EASTON, MA / ACCESSWIRE / May 4, 2022 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and specialty testing services to the worldwide biotechnology, biotherapeutics, nutraceuticals, cosmetics, agriculture, and food & beverage industries, today announced it has signed a multi-year development and manufacturing agreement with Safer Medical of Montana ("SMM"). This Agreement covers the development of final product formulations followed by commercial production. All products will contain high quality nanoemulsions of oils in water, spanning a variety of active ingredients, produced using PBI's revolutionary Ultra Shear Technology™ (UST™) platform. PBI and SMM are committed to completing the final formulation development for their first jointly developed product - a CBD topical spray - before May 31 2022, followed by the manufacture of two pilot runs in June. Production for commercial sale is expected to begin in Q3 2022, under PBI's recently announced Early Access Program. These products will be the first to be commercially sold into the consumer market that contain UST-produced nanoemulsions.
PBI's Chairman, Jeffrey N. Peterson, commented: " As announced on April 27, PBI determined that the pressing immediate demand for UST-produced nanoemulsions required us to make an Early Access production program available to existing and new customers. We are continuing to advance our announced plans to have UST platform systems and laboratory development and production facilities operational in late 2022. As the PBI team continues to work on UST nanoemulsions formulation development for a number of companies in diverse markets (nutraceuticals, cosmetics, agrochemicals, and pharmaceuticals), we are evaluating which of these customers are appropriate for inclusion in this Early Access Program."
Mr. John B. Hollister, Director of Sales and Marketing at PBI, shared: "It is an exciting challenge to have customers pushing us to move faster into the launch of our UST processing services. We've been completing "proof of concept" runs for a number of companies in different markets, and each of them has been amazed by the product improvements resulting from UST processing. Along the way, we have learned a great deal about how to optimize the potential of the nanoemulsion-creation process performed within the UST platform (which has resulted in additional patent filings). One of the primary goals enabled and achieved by UST is to minimize the need for artificial and/or undesirable chemical additives that are routinely used by many current manufacturers to create and stabilize existing emulsion products at the macro, micro and nano scales. As consumers begin to experience the clear benefits of these newly created UST nanoemulsion products, we eagerly anticipate the tectonic shifts in market expectations and dynamics that we and our partners are confident will ensue."
Mr. Hollister continued: "It was easy for us to say yes to opening our Early Access Program for Captain George Ackerson, the CEO and Founder of Safer Medical of Montana, whose mission of helping others traces back through his modest upbringing, the Church, and his service as an OH-6/LOH helicopter pilot in Vietnam. Specifically, his commitment to improving the lives of enormous numbers of Veterans suffering from chronic pain was utterly compelling. We had achieved a big head start with him, as we have already completed a number of steps towards final formulation development, and we are confident that we can take this from agreement to commercialization in a very short timeframe."
Captain Ackerson explained, "The past eight months of working with the Pressure BioSciences team exceeded my already high expectations from the outset - and I have felt like we are part of the same team on the same mission. We are working on making a product that will deeply benefit many Veterans (and vast numbers of other patients and consumers) suffering from chronic pain and other maladies. We will be working with the not-for-profit VETERAN SERVICES TEAM, Inc. ("VST") and will be reaching out to the Veteran Administration, as well as to our Senators in the great State of Montana to facilitate the rapid deployment of this transformational technology and resulting products. We're planning to launch the CBD topical spray for pain relief at around $60 per bottle, which we believe will deliver an affordable, fast-acting, safe and reliable solution for so many who have long suffered with inadequate treatments and only sporadically relenting pain. We also plan to enlist help in commercializing our product from one of the nursing associations that work specifically with the veterans across our country, in addition to utilizing the existing direct sales capabilities provided through our website. We are expecting to sell over 40,000 CBD spray bottles in 2022, with fast growth of this and other products following next year and beyond. This partnership with PBI comes at just the right time for our Company and for our future customers."
Mr. Richard T. Schumacher, PBI's President and CEO, expanded: "The PBI team has worked extremely hard over the past several years to bring the UST platform forward to market entry. We are now in the homestretch of commercialization of UST, a truly revolutionary platform, and the best indication of the interest is that we have customers literally demanding the Early Access Program. Safer Medical is partnering with PBI to provide us with a substantial revenue split, and this is just the first of several anticipated Early Access partners for UST nanoemulsions."
Mr. Schumacher continued: "While the launch of our East and West Coast sites for large scale commercial development and production remains a critical goal for the Company to complete by later this year, the Early Access Program has created tremendous near-term excitement for the PBI Team and our partners. It reflects the burgeoning demand for the UST platform that is already building across multiple markets. With the diversity of UST applications that we already have moving through demonstrations and development, the potential for UST has been confirmed to us to be tremendous, and we expect that it will hasten our march towards profitability targeted for late 2023!"
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, 2021, 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 & CEO (508) 230-1828 (T)
John B. Hollister, Director of Sales and Marketing (805) 908-5719 (T)
Jeffrey N. Peterson, Chairman (650)703-8557 (T)
SOURCE: Pressure BioSciences Inc.