SOUTH EASTON, Mass., March 11 /PRNewswire-FirstCall/ -- Pressure BioSciences, Inc. (Nasdaq: PBIO) ("PBI") today announced that Matthew B. Potter has joined PBI's senior executive management team as Vice President of Sales. Mr. Potter brings with him nearly twenty years of experience in sales and sales management at a number of leading life sciences companies. Mr. Potter will oversee PBI's seven US-based, regional sales directors and will be responsible for driving the Company's commercialization of its novel and patented pressure cycling technology (PCT) product line.
Mr. Richard T. Schumacher, PBI's Founder, President, and CEO stated: "This is an important and exciting time for our Company, as our efforts in 2008 are clearly focused on both the development of market awareness for PCT and on the expansion of our small but growing customer base. To this end, we believe that Matt's background and management style is a not only a great fit with our team, but should also help to accelerate our PCT commercialization plan. We consider ourselves very fortunate to have someone of Matt's caliber join our management team."
Mr. Schumacher continued: "In addition to bringing significant sales and sales leadership experience to PBI, the hiring of Matt allows Dr. Nathan Lawrence, who previously led both sales and marketing, to focus all of his efforts on marketing, collaboration support, distribution outside of the United States, and liaison activities between collaborators and our scientific and engineering teams. This new focus for Dr. Lawrence will allow us to align our sales and marketing efforts in a manner that supports our Company's transition to a fully commercial operation in 2008."
About Matthew B. Potter
Over his career, Mr. Potter has been a Sales Manager at Pharmacia Biotech; National Sales Director at Visible Genetics; Director, Sales and Marketing at MicroCal, LLC; National Sales Manager, Key Accounts -- Pharma at Qiagen, Inc; and Vice President of Sales and Marketing at Abcam, Inc. Before his transition into sales, Mr. Potter was a researcher at the Worcester Foundation for Experimental Biology. Mr. Potter holds a BA in Biology from Clark University and an MBA from Assumption College, both located in Worcester, MA.
Mr. Potter commented: "In over 19 years of selling products into the research marketplace for the analysis of nucleic acids, proteins, and small molecules, one issue -- how to achieve high quality extraction of bio- molecules prior to analysis -- nearly always rose to the top. This was always a key issue, and to that end, I believe strongly that the PCT Sample Preparation System answers many of the sample preparation problems that researchers encounter, and offers unique advantages to customers looking to extract DNA, RNA, proteins, and small molecules from a wide variety of biological samples. PBI has a dedicated and talented group of people throughout the organization, and I look forward to working with them -- and in particular our newly hired field sales organization -- to drive this technology into the marketplace."
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 in such areas as genomic and proteomic sample preparation, pathogen inactivation, the control of chemical 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. Forward looking statements include the
expectation that Mr. Potter will be successful in helping to drive the
acceptance and commercialization of PCT and the PCT Sample Preparation
System into the marketplace, Dr. Lawrence will now be able to refocus his
efforts in a manner that the Company believes will support the transition
to full commercialization, and Mr. Potter's belief that the PCT Sample
Preparation System offers unique advantages in bio-molecule extraction.
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 Sample Preparation System; future revenues may
not meet expectations due to the possible failure of the Company's products
to achieve commercial acceptance, changes in customers' needs and
technological innovations, and expenses that may be higher than anticipated
due to unforeseen cost increases; if the Company's expenses are higher than
anticipated or if the Company's revenues do not increase, the Company may
not have sufficient cash to support its planned activities and the Company
may be unable to obtain financing on acceptable terms; the Company's new
external sales force, now directed by Mr. Potter, may not be successful in
selling the Company's PCT product line because scientists may not perceive
the advantages of PCT over other sample preparation methods; and the
Company may be unable to develop new PCT-related products that are
perceived by potential customers as having advantages over current
technologies and techniques or achieve commercial acceptance. 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-KSB for the year ended December 31, 2006 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.
Visit us at our website http://www.pressurebiosciences.com
Richard T. Schumacher, President & CEO
Edward H. Myles, Senior Vice President of Finance & CFO
Pressure BioSciences, Inc.
(508) 230-1828 (T)
|SOURCE Pressure BioSciences, Inc.|
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