Pressure BioSciences Partners with Constant Systems to
Significantly Expand Product Offerings and International
Distribution
SOUTH EASTON, Mass.,
Nov. 26, 2012 /PRNewswire/ --
Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company")
and Constant Systems Ltd ("CS") today announced they have entered
into a two-way, strategic marketing, selling, and distribution
agreement (the "Agreement"). Under the terms of the
Agreement, PBI has been awarded non-exclusive rights to market,
sell, and distribute CS's unique, high-pressure cell disruption
equipment and consumables in the United
States, Canada, and
Mexico. Concomitantly, CS has been awarded the rights to
market, sell, and distribute PBI's patented pressure cycling
technology ("PCT") based instruments and consumables in
England, Scotland, Wales, Ireland, Spain, Portugal, Italy, Norway, Sweden, Finland, Denmark, and Singapore. CS currently has
strong sales and distribution channels in all twelve of these
countries; PBI, on the other hand, has none. The Agreement is
in effect until December 31, 2013;
however, PBI and CS expect to extend the Agreement prior to its
termination.
Mr. Richard Mallabar, CEO of
UK-based Constant Systems, said: "to date, throughout our sales
network we have successfully installed close to 900 of our cell
disruption units into more than 40 countries worldwide. To
help us continue this trend of successful selling, and to increase
our market share in North America,
we have partnered with PBI. Their reputation, experience, and
expertise in high pressure, market knowledge, installed base of
over 200 PCT instruments in approximately 150 N. American labs, and
their U.S. location, gives us confidence that together we will be
highly successful in placing multiple cell disruption instruments
in the U.S., Canada, and
Mexico."
The initial Agreement focuses on cooperative marketing, selling,
and distribution. The companies expect to co-market their
products through shared booths at trade shows, joint email
campaigns, combined advertisements and webcasts, and other means of
gaining visibility for the two related, pressure-based product
lines. They also plan to make sales calls together, when
appropriate. The companies have also begun discussions on the
possibility of expanding the current Agreement to include
cooperative research, development, and manufacturing in the near
future.
Mr. Richard T. Schumacher,
President and CEO of US-based PBI, commented: "the two product
lines complement each other exceedingly well. While both the CS and
PBI technologies are based on high pressure, each product line has
fundamental scientific capabilities that the other does not
have. PBI's PCT Platform uses certain patented pressure
mechanisms to achieve small-scale, molecular level effects.
CS's technology uses different, proprietary pressure mechanisms for
larger-scale, non-molecular level processing. In a number of
routine laboratory applications, such as protein extraction, both
effects can be critical to success. Therefore, for protein
extraction and a number of other important scientific applications,
we believe laboratories will benefit by using the CS and PBI
products, either separately or together. This is a wonderful
synergy of two well-respected, growing, and complementary product
lines."
Dr. Nate Lawrence, Vice President
of Sales and Marketing at PBI, said: "we believe this is the
beginning of a long-lasting and mutually-beneficial
relationship. CS, with their experience and expertise in high
pressure products, proven sales and marketing reach, and expansive
and diverse life sciences customer base outside of the US, is the
perfect partner to help drive the installed base of PBI products
internationally. Concomitantly, we believe our access to
multiple North American laboratories in academia, government,
biotech, and pharma, makes us the ideal partner for CS. We
further believe that our reputation and proven capabilities in the
high pressure field will allow us to increase awareness of the CS
cell disruption products quickly and efficiently. Finally, we
believe that one of the earliest, most measurable results of this
strategic partnership will be significantly increased revenue for
both companies in 2013, and beyond."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. ("PBI") (OTCQB: PBIO) is focused on
the development, marketing, and sale of proprietary laboratory
instrumentation and associated consumables based on Pressure
Cycling Technology ("PCT"). PCT is a patented, enabling technology
platform with multiple applications in the estimated $6 billion life sciences sample preparation
market. PCT uses cycles of hydrostatic pressure between ambient and
ultra-high levels to control bio-molecular interactions. PBI
currently focuses its efforts on the development and sale of
PCT-enhanced sample preparation systems (instruments and
consumables) for mass spectrometry, biomarker discovery,
bio-therapeutics characterization, vaccine development, soil and
plant biology, forensics, histology, and counter-bioterror
applications.
About Constant Systems, Ltd.
Constant Systems, Ltd ("CS") is a British company that has been
providing niche biomedical products and services to a global client
base since 1989. CS designs, develops, and manufactures high
pressure cell disruption equipment required by life sciences
laboratories worldwide, particularly disruption systems for the
extraction of proteins. Our equipment provides a constant and
controlled cell disruptive environment, giving our clients
superior, constant and reproducible results whatever the
application. CS has nearly 900 machines installed in over 40
countries worldwide.
Constant Systems is part of the Score Group plc, an
international engineering business based in Peterhead,
Scotland. Score Group provides clients with a worldwide,
around-the-clock range of engineering solutions for valve sales and
service, turbines, aerospace components, and cell disruption
equipment. Score Group employs over 1400 staff, and has
annual sales that exceed $130
million.
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
statements include, without limitation, statements regarding the
anticipated benefits from the strategic partnership with Constant
Systems, the likelihood that it will lead to significantly
increased sales in 2013 and beyond, and the continued growth from
the sale of PCT and cell disruption systems generally; that both
the CS and PBI technologies complement each other exceedingly well;
that in a number of laboratory applications, including protein
extraction, both the CS and PBI technology effects can be critical
to success, and that laboratories can benefit by using both
technologies, either separately or together; and the size of the
life sciences sample preparation market. 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: possible difficulties or delays in the
implementation of the Company's strategies that may adversely
affect the Company's continued commercialization of its PCT-based
product line; changes in customer's needs and technological
innovations; the Company's and CS's sales forces may not be
successful in selling the Company's and/or CS's product lines
because scientists may not perceive the advantages of these
products over other sample preparation methods; and if actual
operating costs are higher than anticipated, or revenues from
product sales are less than anticipated, the Company may need
additional capital sooner than anticipated. Further, given the
uncertainty in the capital markets and the current status of the
Company's product development and commercialization activities,
there can be no assurance that the Company will secure the
additional capital necessary to fund its operations beyond
December 2012 on acceptable terms, if
at all. Additional risks and uncertainties that could cause
actual results to differ materially from those indicated by these
forward-looking statements are discussed under the heading "Risk
Factors" in the Company's Annual Report on Form 10-K for the year
ended December 31, 2011, 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.
PBI filed a registration statement (including a prospectus) with
the SEC for an offering to which this communication may relate.
Before you invest, you should read the prospectus in that
registration statement for the offering and other documents PBI has
filed with the SEC for more complete information about PBI and the
offering. You may get these documents for free by visiting EDGAR on
the SEC Web site at www.sec.gov. Alternatively, PBI can arrange to
send you the prospectus, when available, upon request.
For more information about PBI and this press release, please
click on the following links:
http://www.pressurebiosciences.com
http://www.constantsystems.com
Investor
Contacts:
|
|
Richard T.
Schumacher, President &
CEO
|
Pressure
BioSciences, Inc.
|
Nate
Lawrence, VP Sales &
Marketing
|
(508)
230-1828 (T)
|
|
|
Richard
Mallabar, CEO, Constant
Systems
|
44 (0)
1327 314146
|
Andy
Goddard, VP Sales and Service,
CS
|
(770)
428-4814
|
SOURCE Pressure BioSciences, Inc.