Company’s Strong First Half 2021 Viewed as Launch Pad for Accelerating Second Half and Growth Trajectory, Propelled by Multiple Platform Technologies Building Market Traction
SOUTH EASTON, MA / ACCESSWIRE / August 5, 2021 / Pressure BioSciences, Inc. (OTCQB:PBIO) (“PBI” or the “Company”), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, nutraceuticals, cosmetics, agriculture, and food & beverage industries, today announced major aggressive goals for the second half of 2021. The Company believes these goals are attainable by the end of the year, and that once achieved, the Company will be on a rapid path to growth, profitability, and success.
Mr. Richard T. Schumacher, President and CEO of PBI, commented: “We have enjoyed a very exciting and successful first half 2021. As strong as this first half was, we believe the second half 2021 will be even stronger, in both financial and operational results. We are specifically excited about our key goals to close on the Agrochem asset purchase, to completely clean up our Balance Sheet (as we convert debt to equity), to commercially release our UST-based nanoemulsions technology platform, and to complete our up-list, all by the end of 2021. These are very exciting times for all stakeholders in PBIO.”
The Company defined nine areas in which PBI made excellent progress through the First Half 2021 (“FH21”) and announced specific goals for each area for the Second Half 2021 (“SH21”):
Strengthen Financial Position
- FH21 Achievements: Initiated Balance Sheet Restructuring. Reported Initial Conversions of Debt to Equity.
- SH21 Goals: Complete Balance Sheet Restructuring with Payoffs and Conversions of All Loan Debt to Equity.
Revenue, Operating Income
- FH21 Achievements: Reported Strong Q1 (Highest Revenue and Second Lowest Operating Loss since 2018). Company Offered Guidance for an Even Stronger Q2.
- SH21 Goals: Report Our First Ever Million Dollar Quarter During the Second Half of 2021. Continue to Reduce Operating Loss.
Up-list to NASDAQ or NYSE
- FH21 Achievement: Developed Plan to Meet Requirements of NASDAQ or NYSE to Qualify for 2021 Listing.
- SH21 Goal: Trade on the NASDAQ or NYSE Prior to December 31, 2021.
Acquisition of Eco-Friendly Agrochem Company
- FH21 Achievements: Completed Due Diligence, Executed LOI, Launched Integration Planning, and Formed PBI Agrochem – a Wholly Owned Subsidiary of PBI for the New Agrochem Asset.
- SH21 Goals: Close Acquisition and Book Initial $1M Agrochem Revenue in Q3. Goal of $2.5M Total Revenue in Second Half of 2021. Set Stage for Significant Revenue Growth in 2022 and Beyond.
Expansion of Intellectual Property Estate
- FH21 Achievements: Awarded Three New Ultra Shear Technology™ (UST™) Patents. Important Trade Secret Intellectual Property Developed to Further Protect and Support Commercialization of UST-Based Nanoemulsions.
- SH21 Goals: Expect Additional UST, BaroFold, and PCT Patent Awards (Currently Have Total of 29 Issued Patents). Continue to File New UST and BaroFold Provisional Patents.
Partnership with Ohio State University
- FH21 Achievements: Formed Food Industry Consortium with OSU for Proven Successful Evaluation-to-License Model to be Applied for Rapid Adoption of UST Nanoemulsions Platform Technology through Major and Other Food/Beverage Companies Worldwide.
- SH21 Goals: Set Up Industrial Scale UST Prototype at OSU Demo Lab and Launch Evaluation-to-License Program for Consortium Members. Sign at Least Two Significant Food/Beverage License Agreements.
Ultra Shear Technology (UST) Platform
- FH21 Achievements: Announced UST-based Nanoemulsions Soared Past One-Year Stability Goals. Reported on UST-Processed High Quality Nanoemulsions of CBD and Astaxanthin (Highest Potency Antioxidant Known).
- SH21 Goals: Execute Multi-Year License Deals with at Least Two of the CBD, Astaxanthin, Prednisone, Retinol, etc. Nutraceutical Companies Currently Engaged in Negotiations with PBIO.
- FH21 Achievements: Doubled Size of Client Base, including Addition of Multi-Billion Dollar Asian Pharma Client and a Well-Financed U.S. BioPharma.
- SH21 Goals: Advance at Least One Client into PBI’s 2nd Stage of Partnership, for Increased Production Scale Supporting Investigational New Drug Application to FDA and Closing in on initial Commercialization and Royalty Payments to PBI.
Pressure Cycling Technology (PCT) Platform
- FH21 Achievements: Advanced Implementation Planning for Co-Marketing Agreement around PCT Integration with Leica Microsystems Laser Micro-Dissection Automated Platform, Highlighting Dr. Thomas Conrad’s Novel PCT Cancer Biopsy Workflow Developed at INOVA Schar Cancer Institute.
- SH21 Goals: Unveil and Support the Leica-PBI Collaborative Workflow Based on Dr. Conrad’s Stunning Revelation of Diagnosis/Prognosis Changing Cancer Biopsy Data Results.
Mr. Jeffrey N. Peterson, PBI’s Board Chairman, provided a broader context: “Our team has capitalized smartly on the momentum of our strong results, announced growth and accretive acquisition planning, and increasing investor support to achieve terrific progress in resolving debt and accrued expense balances and consequent strengthening of our balance sheet. All of this is in preparation for completion of our announced agrochemical company assets acquisition, a new trajectory of accretive growth, and a rapid progression to completion of our long-planned NASDAQ or NYSE up-listing. We are grateful to our investors for their steadfast support through challenging periods and are excited to be sharing our belief for completion of a rapid transition into profitability in 2022.”
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences and other industries. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to control bio-molecular interactions safely and reproducibly (e.g., cell lysis, biomolecule extraction). Our primary focus is in the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired, patented technology from BaroFold, Inc. (the “BaroFold” technology) to allow entry into the bio-pharma contract services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology (“UST”) platform to (i) create stable nanoemulsions of otherwise immiscible fluids (e.g.,oils and water) and to (ii) prepare higher quality, homogenized, extended shelf-life or room temperature stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies.
Forward Looking Statements
This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied, or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” estimates,” “predicts,” “projects,” “potential” or “continue” or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. These and other factors may cause our actual results to differ materially from any forward-looking statement. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, 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.
Richard T. Schumacher
President & CEO
(508) 230-1828 (T)
Jeffrey N. Peterson
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SOURCE: Pressure BioSciences, Inc.
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