Pressure BioSciences (OTCMKTS:PBIO) announced Thursday that it is working with researchers at Ohio State University to develop and make available for commercialization a manufacturing technology that will play a role in the in the preservation of "clean label" foods and beverages.
The South Easton, Massachusetts company holds several patents for Ultra Shear Technology, which applies high-pressure levels greater than 20,000 pounds per square inch. The technology would allow companies to offer milk, and healthier drinks and juices by reducing heat exposure in the preservation process through a combined application of elevated pressure, intense shear forces and controlled times and temperatures.
The collaborative project is funded by a US$891,000 grant from the US Department of Agriculture. Ohio State has granted Pressure BioSciences a US$318,000 sub-contract to build a working benchtop instrument and a pilot plant floor model Ultra Shear Technology machine.
READ: Ohio State scientists to use Pressure BioSciences's Ultra Shear Technology to sterilize 'clean label' food and drinks
Edmund Ting, senior vice president at Pressure BioSciences, will lead the development of the pilot-plant equipment that the researchers at the College of Food, Agricultural, and Environmental Sciences (CFAES) at Ohio State require.
"High Pressure Processing (HPP) has proven to be very effective in reducing food-borne pathogens and extending shelf-life in pre-packaged foods (e.g., juices and ready-to-eat meats), thus eliminating the need for chemical additives. However, HPP remains a batch process not capable of continuous flow, and because it is only a pasteurization process, and does not render food 'commercially sterile,' HPP-processed food must be shipped, stored, and maintained under refrigeration throughout the entire chain of distribution and retail sale,” said Ting, who is a co-inventor of Ultra Shear Technology.
“We believe that Ultra Shear Technology will provide economical solutions to these problems, and will offer an additional, clean label processing choice to both consumers and the food industry," he added.
According to GoCleanLabel.com, "clean label" foods contain "natural, familiar, simple ingredients that are easy to recognize, understand, and pronounce" with no artificial ingredients or synthetic chemicals. The "clean label" food market has been estimated at approximately US$62bn in the US and US$165bn worldwide.
"The ultimate goal of this collaborative project is for consumers to benefit from the increased availability of wholesome, healthy, better-tasting, shelf-stable, clean label liquid food and beverage options,” said Pressure BioSciences CEO Richard T. Schumacher.
“Imagine liquid foods like milk shipped and stored at room temperature for extended periods of time post-processing, while retaining superior nutritional and taste qualities. The advantages and cost-savings to the consumer and dairy industry could be game-changing. The advantages and cost savings to schools, the military, disaster relief agencies, and other such groups could be equally significant,” added the Harvard Medical School-trained serial entrepreneur.
Laying a strong financial foundation
Separately, the CEO said Pressure BioSciences had achieved “nine consecutive quarters” of increased product and services revenue on a year-over-year basis and 2018 was shaping up as a “banner year.”
The company’s total revenue for the opening three months of 2018 rose 11% to US$610,774, up from US$551,357 in the year-ago quarter, thanks to booming sales of the company’s lab instruments which utilize pressure to control bio-molecular interactions.
“We recently initiated the first project utilizing our recently acquired IP from the BaroFold acquisition, and that we believe this new CRO service could generate significant revenue in the near future," said Schumacher.
Pressure BioScience’s Pre-EMT platform – which uses high pressure to help drug companies develop protein-based therapeutics – is being contracted out to an international biopharma company that intends to use it to improve the quality of a key protein drug. The platform is one is the assets Pressure Biosciences acquired as part of its acquisition of all the assets of BaroFold Inc. last December.
"With our core business showing consistent revenue growth, our BaroFold acquisition generating revenue much sooner than planned, and our Ultra Shear Technology platform getting off to an impressive start, we believe Pressure BioSciences has now positioned itself well for rapid, explosive growth in the months and years ahead."
Commencing commercial operations in 2007, Pressure BioSciences is a leader in high-pressure-based technologies, platforms and services to the life sciences market worldwide.