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Pressure BioSciences, Inc. Announces Restructuring, Significant Cost Reduction Initiatives, and Sharpened Focus
Date:12/1/2008

hese actions were necessary to extend its current cash resources through the second quarter of 2009, to allow time to complete its current equity financing, to enter into a strategic alliance with one or more marketing and distribution partners, and/or to seek other strategic options.

Mr. R. Wayne Fritzsche, Chairman of the Board of Directors of PBI, commented: "We have significantly reduced our operating costs while realigning our corporate strategy to focus on those key product and application areas with the greatest likelihood for success. One such area is mass spectrometry, a powerful laboratory tool that we believe is playing an increasingly important role in the analysis of biological samples in life sciences research. We believe that mass spectrometry is a multi-billion dollar market, and that PCT offers significant advantages in speed and quality compared to current techniques used for protein digestion prior to mass spectrometry analysis. Other strategic areas where we have seen encouraging market penetration are in biomarker discovery, soil biology, and counter-bioterror applications."

The following initiatives are the key ingredients of the new PBI strategic operating plan:

-- a primary focus on current PCT-enhanced enzymatic digestion products geared specifically for the mass spectrometry marketplace

-- the accelerated release of a high-throughput sample processing system - including consumables -- designed specifically for the mass spectrometry marketplace

-- a sharpened sales focus on established products that have shown acceptance in the biological sample preparation market during 2008, specifically in biomarker discovery, soil biology, and counter-bioterror applications

-- a termination of development projects not directly related to these specific product areas

Mr. Fritzsche continued: "W
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SOURCE Pressure BioSciences, Inc.
Copyright©2008 PR Newswire.
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