- Focus on the Development & Worldwide Sale of Innovative, Broadly Enabling, Pressure-Based Solutions for Life Sciences and Other Applications.
- $1.5 Million Contract for Leading Retailer, to Introduce PBIO Products Across the Multi-State Mid-Atlantic Region.
- Largest Investor Exchanges First Seniority Debt into Non-Secured Equity at 38% Above-Market Price, Expressing Confidence and Support.
- $600,000 Order for 16 PCT Instruments to Chinese Customer with Commitment for More to Come.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for worldwide life sciences and other industries. PBIO 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, and biomolecule extraction).
The PBIO primary company 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 PBIO pressure-based technologies in the following areas: (1) the use of 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 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.
- $1.5M Contract for UltraShear Nanoemulsified Product Marketing
On March 22nd PBIO and CBD Supply MD, one of the largest and best-known retail suppliers of CBD products in the multi-state mid-Atlantic region, announced the execution and launch of a manufacturing and distribution agreement. PBIO will supply CBD Supply MD with the Company's UltraShear™ optimized nanoemulsions of CBD in a best-in-class, long-term stable, and highly bioavailable CBD Topical Spray, formulated for ideal effectiveness and optimal potency, addressing consumer's diverse CBD objectives. The agreement is expected to generate over $1.5 Million in revenue for PBIO during 2023, including nearly $250,000 in the second quarter.
The agreement defines four phases of product development and commercialization for a custom-formulated topical spray of hemp-derived, UltraShear nano-emulsified CBD designed for extremely rapid absorption and effectiveness and for efficient high-potency delivery of the CBD active material in each dose. All ingredients used in the manufacture of the PBIO nano-CBD are sourced from naturally occurring, plant-based origins. Phase I of the agreement is underway and provides for an initial shipment of 850 vials (30ml. volume @ 40mg/ml) of UltraShear-nano emulsified CBD to CBD Supply MD by mid-April 2023.
Mr. Richard T. Schumacher, PBIO President, and CEO summed up: "Our diverse work on UltraShear nanoemulsion processing across nutraceutical, cosmeceutical, pharmaceutical, food/beverage, and agrochemical markets has generated an exciting array of developing commercial opportunities for PBIO. We have foreshadowed a plethora of contracts anticipated with many clients requiring nanoemulsion product development, demonstrations, toll manufacturing services, and eventual lease/license agreements around our patented and revolutionary UltraShear technology platform. We are honored to welcome this new partnership with CBD Supply MD - a highly respected retail sales leader in the cannabis marketplace, especially in CBD products. Additional pending agreement announcements, coupled with continued positive improvements in our financing activities, balance sheet, and capitalization table are helping us accelerate the PBIO path forward to a planned uplist to either the NASDAQ/ NYSE stock exchange later this year. Finally, as much as we are deeply excited about our achievements to date, we truly believe that the best is yet to come."
- Exchange of Over $10 Million of Debt into Equity
On March 1st PBIO announced that the Company's largest shareholder has exchanged over $10 million of senior secured debt into unsecured preferred stock. The debt being converted is comprised of convertible promissory notes, accrued and unpaid interest on all promissory notes issued to the investor since November 2019, plus accrued and unpaid dividends on the Company's Series AA Convertible Preferred Stock purchased by the investor since May 2018.
The $10+ million of debt exchanged into equity represents over 50% of the total debt currently owed to the Investor by PBIO and represents over 30% of the PBIO total outstanding debt held by all investors through February 2023 via convertible promissory notes; accrued and unpaid interest on convertible promissory notes; and accrued and unpaid dividends earned from investments in the PBIO Series AA Convertible Preferred Stock financing. The exchange of debt to equity was consummated at a value of $2.50 per share of Common Stock, which is an approximate 38% premium over the PBIO recent open market valuation.
- Nearly $600,000 Order for 16 PCT Instruments
On February 1st PBIO announced entrance into an exclusive distribution agreement for the People's Republic of China with PRS International Trade (Shanghai) Co., Ltd. ("PRS International").
Reflecting confidence built upon the PBIO long investment in developing worldwide market support for the Company's Pressure Cycling Technology ("PCT") platform, PRS International prepaid for the entire purchase of 16 Barocycler EXT units for a total of nearly $600,000, with a commitment to purchase additional units and related consumables before the end of 2023. This historic purchase of PBIO original high-pressure technology instruments comes on the back of a surge in purchase orders for all product categories of the PBIO pressure-based instruments and consumables.
For more information on PBIO visit: http://www.pressurebiosciences.com
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The products mentioned are THC-free and/or compliant with the 2018 Farm Bill.
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Media Contact
Company Name: Pressure BioSciences, Inc.
Contact Person: Richard T. Schumacher, President & CEO
Email: Send Email
Phone: (508) 230-1828
City: South Easton
State: Easton, Massachusetts
Country: United States
Website: https://www.pressurebiosciences.com/
