Pressure BioSciences, Inc. is focused on the development and commercialization of proprietary laboratory instruments and consumable products.
The Company’s product portfolio is based on its patented pressure cycling technology (PCT), which is able to create and release high levels of hydrostatic pressure in a safe and controlled manner. Pressure BioSciences has 24 issued and multiple pending patents globally that protect various aspects and applications of PCT.
The PCT platform is a highly versatile and adaptable technology that can be used across many different industries, including the life sciences, pharmaceutical, biotechnology, forensics, food, anti-bioterror, agriculture, automotive, and oil and gas industries, among others. While Pressure BioSciences believes that its products have potential in each of these markets, the Company is currently focusing its product development efforts on biological sample preparation for life sciences research.
The sample preparation market for life sciences research is forecast to more than double to $11.5 billion by 2018, driven by new technologies and growing demand.
Pressure BioSciences’ line of bench-top Barocycler® laboratory instruments employ high pressure to prepare samples for downstream analysis and testing. These PCT-based systems have been shown to extract higher quality and/or quantities of proteins, nucleic acids (DNA/RNA), and small molecules from samples versus competitive products, which could have positive implications in biomarker discovery, forensics, and many other areas of life science research.
The Company’s customers include large pharmaceutical and biotechnology companies (e.g., Bristol-Myers, Amgen, and Merck), U.S. government agencies (FBI, FDA, NIH, USDA), and universities (Harvard, Stanford, and UCLA). Pressure BioSciences reports that it has installed roughly 250 PCT systems at approximately 150 customer sites as of May 2014.
Pressure BioSciences’ next-generation PCT platform is the HUB family of Barocyclers. The goal of the HUB is to create a modular system that can grow and adapt to a laboratory’s needs, with users purchasing accessories as needed to expand the functionality of their HUB unit. The newest HUB product, the HUB880 capable of reaching 100,000 psi in a safe and controlled manner, was launched in March 2014.
In June 2014, the Company introduced its newest offering, the Barozyme™ HT48, a high-throughput, automated system capable of processing up to 48 samples simultaneously. As of September 2014, the first phase of commercialization of the Barozyme™ HT48 had been completed, with production underway. Pressure BioSciences expects to release the first Barozyme™ unit for evaluation in October 2014, followed by up to eight more units thereafter in fall 2014.
Pressure BioSciences has gained exposure to corporate, government, and university laboratories through its strategic collaboration program, which allows researchers to temporarily install a Barocycler instrument in their laboratory in exchange for a reasonable financial commitment and the collection of independent data on a certain subject. The program also exposes the technology to potential customers as well as specific research scientists who the Company believes could have a positive impact on market acceptance of PCT.
Data collected through this program has helped validate existing applications for PCT and establish potential in new applications. As well, much of this research has resulted in peer-reviewed publications and presentations at scientific meetings. To date, over 100 papers have been published on PCT.
During the ASMS 62nd Annual Conference, PCT-based sample preparation methods were featured in eight presentations from six separate research groups, with results indicating that the use of the Company's PCT platform resulted in critically enabling quality and/or improved time or cost efficiency of test results.
Pressure BioSciences’ portfolio also includes Shredder instruments (for rapidly shredding or grinding samples), sample preparation kits and reagents, and related consumable products (e.g., sample tubes).
At June 30, 2014, Pressure BioSciences held $9,369 in cash and cash equivalents. On July 1, 2014, the Company received payment of $200,000 under the fourth tranche of its private placement.