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Pressure BioSciences, Inc.. (10/14/09). "Press Release: Pressure BioSciences, Inc. and Protein Forest, Inc. Announce Collaborative Co-Marketing/Selling and R&D Agreement". South Easton, MA.
Pressure BioSciences, Inc. (NASDAQ: PBIO) ("PBI") and Protein Forest, Inc. ("Protein Forest"), (together "the companies"), today announced that they have entered into a strategic co-marketing/selling and research & development agreement. The companies intend to co-market their respective product lines, including in industry publications, at scientific meetings, on each company's website, through common collaborator studies, and at key industry trade shows. PBI and Protein Forest also intend to explore ways to co-develop new instrumentation, accessories/modules for existing instrumentation, and consumables that combine the protein fractionation/software products of Protein Forest with the extraction and protein digestion enhancement products of PBI.
One of the most significant problems in protein analysis today is the proper preparation of a sample prior to analysis with instruments such as a mass spectrometer. Poor sample preparation can lead to significant issues in the accuracy and reproducibility of proteomic test results. Protein Forest and PBI believe that a combination of their respective patented technology platforms will provide scientists with a seamless, more standardized, and integrated workflow to better address key sample preparation issues routinely encountered in an estimated 10,000 research laboratories working in mass spectrometry proteomics worldwide. The companies further believe that this combination of technologies will offer a degree of standardization in the preparation of samples that has heretofore not been available to the mass spectrometry laboratory.
Dr. Russell Garlick, President and CEO of Protein Forest, said: "Pressure Cycling Technology (PCT) is one of the most cutting-edge technologies that I have encountered working in the development, marketing, and sales of products for the life sciences industry. In addition, PCT's ability to greatly accelerate protein digestion (a key step in the mass spectrometry workflow), and its proven protein extraction capabilities, make it unique among general sample preparation methods available today for many different applications, with one of the most important being mass spectrometry. Furthermore, its automated processing functionality and pre-set test parameters offer a level of consistency and reproducibility that is key to accurate sample preparation for subsequent mass spectrometry analysis."
Mr. Richard T. Schumacher, President, and CEO of PBI commented: "Protein Forest has developed novel, patented products for the rapid and accurate fractionation and enrichment of complex protein mixtures. We believe these products have the ability to enhance the analytical performance and workflow in all protein research laboratories, especially those focused on mass spectrometry and biomarker analysis. In addition, we also believe that their intuitive data reduction software is an extremely powerful laboratory tool that can help analyze complex data with speed and accuracy, and can consequently reduce the time to discovery."
Mr. Schumacher continued: "We share the same primary target market with our colleagues at Protein Forest - the mass spectrometry laboratory. Over the past year, we have found ourselves attending many of the same scientific meetings, advertising in many of the same media outlets, and collaborating with many of the same thought leaders in the field. PBI's sales and marketing activities will be greatly enhanced by the Protein Forest sales force co-marketing our line of PCT products. Similarly, our sales team will assist Protein Forest in expanding the scope of their sales leads. Consequently, we believe that this alliance will greatly facilitate the introduction of our respective product lines to the mass spectrometry market, but without the need to increase sales staff, marketing budgets, and time at scientific meetings. We believe this is a very cost-effective way to significantly increase market penetration."
About Protein Forest
Protein Forest, Inc., a privately held company located in Lexington, Massachusetts, is a leading developer and manufacturer of state-of-the-art sample fractionation technology, products, and data analysis software for mass spectrometry. The company develops, manufactures, and markets instruments, consumables, and bioinformatics software products for scientists in the life science, drug discovery, pharmaceutical, biotech, and diagnostic industries around the world.
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 genomic and proteomic sample preparation, pathogen inactivation, the control of chemical (primarily enzymatic) reactions, immunodiagnostics, and protein purification. PBI currently focuses its efforts in the development and sale of PCT-enhanced enzymatic digestion products designed specifically for the mass spectrometry marketplace, as well as sample preparation products for biomarker discovery, soil and plant biology, forensics, 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. Such forward looking statements include statements regarding the expected advantages of PBI's PCT product line, alone or in combination with the Protein Forest product line, over other currently available sample preparation methods for the mass spectrometry market; that the agreement between PBI and Protein Forest will result in an increase in the introduction of each company's product line to the mass spectrometry market, but without the need to increase sales staff, marketing budgets, or time spent at scientific meetings; the size of the sample preparation market for mass spectrometry; that the target markets and technologies of PBI and Protein Forest are complementary and synergistic; the expectation that the combination of the PBI and Protein Forest technologies will result in a seamless, integrated workflow for the mass spectrometry market, and that this combination of technologies will offer a degree of standardization that has heretofore not been available to the mass spectrometry lab; the co-development of new instruments, accessories/modules for existing instrumentation, and consumables; and the capabilities of PBI's and Protein Forest's products and intellectual property. These statements are based upon PBI'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 or business issues in the implementation of the collaboration between PBI and Protein Forest that PBI and/or Protein Forest may encounter that may impede or prevent the development of the PCT technology, products using the PCT technology, and products using both the PCT technology and Protein Forest's technology, as the case may be; due to unforeseen technical difficulties, or marketing, sales, and distribution difficulties, the technologies of PBI and Protein Forest may not be adopted by the scientific community as an accepted workflow for mass spectrometry sample preparation or the scientific community may not perceive the benefits of PCT for sample preparation; the co-marketing and sales activities of PBI and Protein Forest may not result in generating any additional sales for either PBI or Protein Forest; that due to unforeseen technical or business difficulties, PBI and Protein Forest may not develop mutually acceptable plans to co-market their products and to co-develop new instrumentation, accessories/modules, or consumables; 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, 2008 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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Record changed: 2016-03-19
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