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Pressure BioSciences, Inc. Announces $850,000 NIH SBIR Phase II Award for the Development of a New PCT-dependent System for Improved Biomarker Discovery, Diagnostics, and Drug Discovery
Date:6/24/2008

SOUTH EASTON, Mass., June 24 /PRNewswire-FirstCall/ -- Pressure BioSciences, Inc. (Nasdaq: PBIO) ("PBI" and "the Company") today announced that it has been awarded a Phase II Small Business Innovation Research (SBIR) Grant (2R44GM079059-02) from the National Institutes of Health (NIH). The Grant will help fund continuing experiments directed towards the development and commercialization of novel, automated, and reproducible methods for the extraction of clinically important protein biomarkers, subcellular molecular complexes, and organelles (such as mitochondria) from cells and tissues using the Company's patented pressure cycling technology ("PCT"). The Grant is for a total of $850,000, to be billed over two years. Final paperwork is expected to be completed within the next several weeks; work on the project is expected to begin shortly thereafter. Dr. Feng Tao of PBI is the Principal Investigator.

Over the past 18 months, the Company and its collaborators have generated initial feasibility data in the use of PCT to extract protein biomarkers, subcellular molecular complexes, and organelles. These studies were partially funded by a $149,000 NIH SBIR Phase I Grant (1R43GM079059-01) awarded PBI in 2006. The new SBIR Phase II Grant is intended to fund additional development in these areas, with the expectation that these studies will ultimately lead to the release of a new, commercially available PCT-based system, with validated protocols, end-user kits, and other consumables intended for the extraction of clinically important protein biomarkers, subcellular molecular complexes, and organelles.

Dr. Bruce S. Kristal of the Department of Neurosurgery, Brigham and Women's Hospital (Boston), and the Company's primary collaborator
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SOURCE Pressure BioSciences, Inc.
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