Agreement Between Leading Companies in High-Pressure and Process Engineering/Equipment
Technologies Will Deliver Immediate Upgrade to PBIO's Manufacturing Capacity. Agreement Also
Offers Potential for Long-Term Equipment Manufacturing and Supply Relationship.
SOUTH EASTON, MA / ACCESSWIRE / April 18, 2023 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBIO" or the "Company"), a global leader in the development and sale of broadly enabling, high-pressure-based equipment, consumable products, and specialty services to the life sciences field and Artisan Industries, Inc. ("Artisan"), a worldwide leader in providing purification and separation technologies for the process industries, today announced a strategic agreement between the companies.
The agreement focuses on two highly important areas: (i) PBIO will rent space and ancillary support in Artisan's state-of-the-art facilities, which will dramatically increase PBIO's manufacturing capacity for servicing the needs of its growing portfolio of Ultra Shear Technology™ ("UltraShear™ or UST™")-based nanoemulsion clients; and (ii) the relationship is expected to facilitate discussions between the companies towards an agreement that would secure Artisan as the exclusive manufacturer of PBIO's revolutionary UltraShear equipment (the "BaroShear™" line of products).
Mr. Richard T. Schumacher, President and CEO of PBIO, said: "We are excited to have reached an agreement on a leap forward in our manufacturing capacity, capabilities, and strategy that allows us to quickly transition from small, pilot scale lots for test markets (limitation of our current facilities) into large-scale servicing of UltraShear toll manufacturing contracts. We expect that this transition will be completed over the next 30 days. We will also be actively exploring the potential for this relationship to produce an equipment manufacturing partnership, one that can accelerate our execution in scaling large UltraShear partners into our lease-and-license business model for their in-house manufacturing capacity, beginning in 2024."
Mr. Schumacher continued: "This significant expansion of our manufacturing capacity comes at a perfect time, as we are putting the finishing touches on a wide-ranging agreement with cannabis industry leader John Westlake, owner of Canopy CBD Farms. Once executed, John will become the master distributor for all of PBI's hemp-derived cannabis businesses for North America. In this role, we believe John is going to keep PBIO super busy fulfilling product contracts that he will very quickly be bringing to PBIO, as he has the most extensive list of cannabis contacts many of us have ever seen!"
PBIO will continue to accept contracts for toll processing of customer's nanoemulsions requirements for the foreseeable future. Beginning in 2024, PBI's business plan will add a lease and license model, whereby the Company will be placing UltraShear equipment in the hands of customers at the cost of a monthly lease payment plus a toll/royalty rate on the output of the UST equipment. Under this growth strategy, the Company believes it may need hundreds or thousands of instruments over the coming years. The UST System contains a number of unique and complex designs and components; Artisan has an impressive history of innovation, professional manufacturing, and quality management - making them a natural and ideal choice for a prospective equipment building contract.
Mr. Tim L. Davis, President and CEO of Artisan, commented: "At Artisan, we have a deep history and appreciation for technology innovation and effective design implementation. We have monitored the emergence of the nanoemulsions industry and the struggles of multiple existing technologies in attempting to serve the enormous opportunities that exist in the marketplace for nanoemulsions. PBIO has produced a compellingly powerful, robust, reliable, adaptable, and economically scalable technology platform for the delivery of nanoemulsion solutions to capably serve the customers spanning these targeted industries. We are proud and excited to have this opportunity to work with a visionary technology innovator and the seasoned corporate leadership team at PBIO. We are also excited about the possibility of developing a strategic relationship with PBIO as the manufacturer of their revolutionary UltraShear nanoemulsion processing equipment."
Mr. Jeffrey N. Peterson, PBIO's Chairman, summarized: "Newly minted with chemical engineering degrees out of MIT in the 1970's, I had the privilege of working with innovative new process equipment designed by Artisan Industries in my early career in advanced engineering materials businesses. I was highly impressed with the quality, engineering, and performance of their designs on some very challenging product processing problems. It is a truly a serendipitous delight to come full circle in welcoming Artisan Industries as our new collaborator, at this pivotal growth inflection moment in the trajectory of Pressure BioSciences. I have great confidence in the incredibly capable and professional team at Artisan Industries."
About Artisan Industries, Inc.
Artisan Industries Inc. provides purification/separation for the process industries. From Process Development, R&D testing in our Technology Center, to Complete Engineered Systems, our experienced engineering team provides customer-focused solutions. Continual innovation is our trademark. For over 85 years, Artisan has helped its customers successfully improve their most challenging separation processes. By delivering solutions in new and innovative ways, we help advance science across multiple industries and applications.
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, 2022, 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.
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Richard T. Schumacher, President & CEO, PBIO
(508) 230-1828 (T)
Jeffrey N. Peterson, Board Chairman, PBIO
Tim L. Davis, President & CEO, Artisan Industries
(781) 893-6800 (T)
SOURCE: Pressure BioSciences Inc.
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