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Pressure Biosciences Inc positioned for success in 2016

Pressure cycling specialist Pressure BioSciences is well positioned for success in 2016 as it outlined a period of significant progress in the year gone.
Pressure Biosciences Inc positioned for success in 2016
The firm develops and sells lab equipment to the estimated $6 billion life sciences sample preparation market

Pressure cycling specialist Pressure BioSciences (OTCMKTS:PBIO) is well positioned for success in 2016 as it outlined a period of significant progress in the year gone.

The firm develops and sells lab equipment to the estimated $6 billion life sciences sample preparation market.

And its proprietary PCT-HD system - a new technique for ‘opening’ cells using pulses of pressure - has in recent years been adopted by leading scientists.

So far, it has installed over 250 PCT systems in around 160 sites worldwide.

Increased research and development costs and admin  expenses pushed the operating loss up to $3.5mln for the year to end December, compared to a loss of $3.3mln in 2014, but total revenue was lifted to around $1.8mln compared to $1.37mln in 2014.

Grant revenue was significantly increased to $387,700 compared to $24,594 in 2014, an increase of around 1,500% due to the receipt of a SBIR Phase II grant.

The group's president and chief Richard T. Schumacher told investors: "We accomplished a number of key goals in 2015: the receipt of approximately $5M in new capital; the elimination of all toxic debt; the release of new pressure-based instruments and consumables; the initial development of the new Barocycler NEP2320 Extreme – designed to allow SCIEX and other mass spectrometry customers to unleash the full potential of PCT in their proteomic workflows; and the initiation of a co-marketing agreement with SCIEX, a key provider of analytical instrumentation to the scientific research markets worldwide."

The company boss went onto say: "These accomplishments, combined with the planned expansion of our marketing and sales capabilities this year, position us well for success in 2016 and beyond.

"We have well-defined near-term goals that we believe are clear, focused, and attainable. If achieved, we believe these goals should continue to build value realization in PBI, positioning us as a stronger, more valuable company going forward."

Among its short term goals this year are to complete the manufacture of the Barocycler NEP2320 Extreme and begin its commercialisation and expand its co-marketing program with SCIEX.

It also wants to secure a strategic marketing and distribution partner for the Barozyme HT48 high throughput system and for the NMR and EPR PCT-based sample preparation systems.

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