Largest Single Order in Company's History was Prepaid as New Chinese Distributor Comes Online;
Adds to Revenue Strength Also Building Across PBI's UltraShear Nanoemulsions Platform
SOUTH EASTON, MA / ACCESSWIRE / February 1, 2023 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBI" or the "Company"), a global leader in the development and sale of broadly enabling, high-pressure-based products and services to the life sciences and other industries, today announced entrance into an exclusive distribution agreement for the People's Republic of China ("Agreement") with PRS International Trade (Shanghai) Co., Ltd. ("PRS International").
Reflecting confidence built upon PBIO's long investment in developing worldwide market support for the Company's Pressure Cycling Technology ("PCT") platform, PRS International prepaid for the entire purchase of 16 Barocycler EXT units for a total of nearly $600,000, with a commitment to purchase additional units and related consumables before the end of 2023. This historic purchase of PBIO's original high-pressure technology instruments comes on the back of a surge in purchase orders for all product categories of the Company's pressure-based instruments and consumables.
Director of Sales and Marketing John B. Hollister commented, "We believe this purchase of a record number of Barocycler EXT instruments, together with strong worldwide indications of purchase plans for additional non-PCT instruments and consumables, indicates that China and the rest of the life sciences world is finally emerging from under the economic cloud of COVID. We expect first quarter 2023 sales to benefit from the initial shipment of up to five Barocycler EXT instruments to China, from the surge in orders we are experiencing in our other pressure-based instrument areas (e.g., Barocyclers, HUB pressure generators, and cell disruptors), and from our recently opened UltraShear™ nanoemulsions tolling services. Adding to this excitement, we had a few expected sales in 2022 slip into 2023 due to supply chain issues. The net effect is that we are having a terrific first quarter, which we believe will continue to strengthen throughout 2023 and beyond."
Richard T. Schumacher, President and CEO, expanded: "We have been focusing the majority of our efforts on the launch of our revolutionary UltraShear nanoemulsions processing platform, which we expect will lead to ramping revenue in 2023. Additionally, our long-term investment in building broad-based market support for our line of pressure-based instruments continues to pay off with growing penetration and adoption for our initial high-pressure technology platforms and application areas. Our commitment to supporting this key area of our business remains unwavering. We are honored and humbled by the large, prepaid order from PRS International, and we are delighted to be in a position to reinvest our strengthening technical and financial foundation in support of our next generation UltraShear nanoemulsions technology platform that we believe will be manifesting strong commercial traction starting in this quarter."
Jeffrey N. Peterson, Chairman of PBIO, observed, "Ric and his team were visionaries in building strong scientific support and credibility in the Company's initial PCT platform technology and applications areas. While we see market opportunities growing into the tens of millions of dollars for this platform in the coming years, our strategic focus has appropriately advanced onto our BaroFold and now our UltraShear platforms. BaroFold is an applications arena that we believe offers future potential growth that could be multiples greater for PBIO than the PCT product line. However, our investment in the development of the UltraShear™ platform, for the production of extremely stable and bioavailable nanoemulsions of oil-soluble active molecules for effective delivery into humans, animals, and plants, is a game-changing technology that we believe offers PBI opportunities into the hundreds of millions of dollars, if not more, as it re-defines the basis of competition in multiple multi-billion dollar industries, from pharmaceuticals to nutraceuticals, cosmeceuticals, food/beverage, agrochemicals, and more."
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, Sales and Marketing
(805) 908-5719 (T)
Jeffrey N. Peterson, Board Chairman
SOURCE: Pressure BioSciences Inc.