WEST BRIDGEWATER, Mass., Sept. 24 /PRNewswire-FirstCall/ -- Pressure BioSciences, Inc. (Nasdaq: PBIO) ("PBI") today provided an update on various corporate activities, including the expansion of its domestic sales force, the listing of its common stock on the Frankfurt Stock Exchange, and reaffirmation of guidance relative to forecasted FY2007 sales of the Company's Barocycler instruments.
1) Domestic Sales Force: the Company has hired four U.S. regional sales directors over the past month, increasing to six the number of full-time sales personnel it now has in the field. These four individuals all have strong educational backgrounds in the biological sciences, many years of experience working in (and often supervising) genomic or proteomic laboratories, and experience in selling capital equipment and/or consumable supplies into the research marketplace. The Company expects to hire at least one additional regional sales director during the next few weeks.
2) Frankfurt Stock Exchange: the Company's common stock is now listed on the Frankfurt Stock Exchange (FSE) with a trading symbol of BII.FSE and a WKN (German Security Code) of A0DJ09. The Frankfurt Stock Exchange is the third largest stock exchange in the world; shares traded on the FSE do not affect the Company's total shares outstanding.
3) Guidance on Barocycler Sales: the Company has reaffirmed its previously announced guidance concerning the Company's expectation to install a minimum of twenty (20) Barocycler units during the 2007 fiscal year.
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (PBI) is a publicly traded company focused on the development of a novel, enabling, platform 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 5 foreign patents covering multiple applications of PCT in the life sciences field, including such areas as genomic and proteomic sample preparation, pathogen inactivation, the control of chemical reactions (particularly enzymes), 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. Such forward looking statements include statements regarding the Company's expansion of its sales force; its listing on the Frankfurt Stock Exchange; and expected installations of Barocycler instruments during fiscal year 2007. 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: the possibility that the Company may not be successful in retaining the sales personnel that it has recently hired, or recruiting and retaining additional qualified sales personnel; the possibility that the Company may not be successful in maintaining a listing on the Frankfurt Stock Exchange, or that such listing may not be beneficial to the Company and its stockholders; risks and uncertainties concerning new product development, including the possibility that the Company may encounter unforeseen technological difficulties in the development of the PCT technology, the possibility that the Company's PCT products may not be accepted by the commercial market as a needed improvement over current extraction methods, or other difficulties that would prevent or otherwise impair the Company's ability to install at least twenty Barocycler units in fiscal year 2007; and the other risks and uncertainties 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, Sr. Vice President of Finance & CFO
Pressure BioSciences, Inc.
(508) 580-1818 (T)
|SOURCE Pressure BioSciences, Inc.|
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