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Pressure BioSciences, Inc. Announces Completion of Private Placement
Date:2/18/2009

SOUTH EASTON, Mass., Feb. 18 /PRNewswire-FirstCall/ -- Pressure BioSciences, Inc. (Nasdaq: PBIO) ("PBI" or the "Company") today announced that it has received $1.8 million from the sale of 156,980 units in a private placement that closed on Thursday, February 12, 2009. Each unit was priced at $11.50 and consists of (i) one share of non-voting Series A Convertible Preferred Stock, (ii) a warrant to purchase, at the purchaser's election, either 10 shares of the Company's common stock at $1.25 per share, or one share of Series A Convertible Preferred Stock at $12.50 per share, expiring 15 months from the closing , and (iii) a warrant to purchase 10 shares of the Company's common stock at $2.00 per share, expiring 30 months from the closing. Each share of Series A Convertible Preferred Stock is convertible into 10 shares of common stock at a conversion price of $1.15 per common share. The 30-day average closing price of PBI shares of common stock as reported on the NASDAQ Capital Market as of the close of business on Wednesday, February 11, 2009, the day before the closing of the private placement, was $0.82 per share. The units were issued in a private placement without registration under the Securities Act of 1933, as amended (the "Securities Act"), in reliance upon the exemption from registration set forth in Rule 506 of Regulation D promulgated under the Securities Act.

In connection with the private placement, prior to the closing, the Company received $200,000 from one of its distributors to be held in the private placement escrow account. The distributor requested, and the Company agreed, that the $200,000 be used as payment for anticipated future purchases of the Company's pressure cycling technology (PCT) instrument and consumables products, and not for an investment in the private placement.

Mr. Richard T. Schumacher,
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SOURCE Pressure BioSciences, Inc.
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