Pressure BioSciences Inc (OTCMKTS:PBIO) chief Richard T. Schumacher told a recent interview in New York that he believes the market opportunity for the group's tools, which prepare samples, runs into multi billions of US dollars.
"We think there's at least 500,000 researchers and at least 80,000 labs that can use of our system," he told the SNNLive video interview.
"Right now we are in about 165 labs of the 80,000. We are a small company. We've had one salesperson for the last nine years. We've had minimal money to develop things. We had one instrument that was run by a microprocessor. Things have really changed for us in the last year."
Schumacher explained how the group now had six salespeople, with four new instruments that are ready to come out on top of the one it already had.
"We now have a brand new instrument that is computer driven, not run by a microprocessor, has tremendous software."
Earlier this month, Pressure BioSciences said it was very excited about the potential for its ultra shear technology (UST), for which it has been issued its first two patents in China.
The technology could be used in a range of industrial applications, including extending the shelf life of some food products, the firm said.
Last week, Pressure said it was to collaborate with Phasex Corporation to combine its ultra shear technology with the latter's processing methods to develop water-soluble nanoemulsions.
These (nanoemulsions) are mixtures of two or more liquids, which could be used in various products, including medical, pharmaceuticals, and nutraceuticals, and the companies hope to create a CBD-enriched plant oil.
Pressure Biosciences's Schumacher has also conducted an interview with NetworkNewsWire (NNW), a financial news and publishing company.
"We supply instruments and consumables to life science laboratories all over the world," says Schumacher.
"These are the laboratories that are aggressively looking for the next billion-dollar drug, the next cure, the next preventive strategy, the next vaccine."