Pressure BioSciences, Inc. Announces Collaboration with Alfa Wassermann Proteomic Technologies, LLC.
The collaboration is intended to last for three months and can be extended by mutual consent. Intellectual property developed will be co-owned, and there is an agreement to cross-license new IP to allow each company to have a worldwide, exclusive, royalty free license in their area of focus - PCT sample preparation for PBI and post-extraction protein processing for AWPT. Each company will pay the majority of costs incurred by its internal research efforts. For PBI, some of these costs will be supported by NIH SBIR Grant Number 1 R43 GM079059-01.
Dino DiCamillo, President of Alfa Wassermann Proteomic Technologies, said: "The proposed research plan is focused on the development of PCT-based lysis methods suitable for the isolation of intact sub-cellular complexes, including organelles. We expect such methods will help to maximize the performance of our flagship product, the AW Promatix 1000 - a novel instrument that automates the separation, fractionation, and enrichment of sub-cellular particles in a single step."
Richard T. Schumacher, Founder, President, and CEO of Pressure BioSciences, commented: "Having ready access to the AWPT technology will be beneficial to our scientists as they continue the development of front-end, proteomic extraction methods for state-of-the-art, downstream instrumentation, such as the AW Promatix 1000. We hope that the combination of the PCT Sample Preparation System (PCT SPS) with the AW Promatix 1000 will result in an elegant and compelling platform for the enrichment of low abundance proteins and sub-cellular complexes, bio-molecules that many believe are essential to the development of a better understanding of human disease."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (PBI) is a publicly traded, early-stage company focused on the development of a novel, enabling technology called Pressure Cycling Technology (PCT). PCT uses cycles of hydrostatic pressure between ambient and ultra-high levels (up to 35,000 psi and greater) to control bio-molecular interactions. PBI currently holds 13 US and 5 foreign patents covering multiple applications of PCT in the life sciences field, including such areas as genomic and proteomic sample preparation, pathogen inactivation, the control of enzymes, immunodiagnostics, and protein purification.
About AWPT, LLC
Established in January 2004 as a division of Alfa Wassermann, Inc. (AWI), AWPT leverages and builds upon AWI's established continuous flow ultracentrifugation technologies to develop products that significantly improve the quality and reduce the complexity of cellular organelles and macromolecules for proteomic analysis. AWPT recently introduced AW Promatix 1000 - a continuous-flow ultracentrifugation system that employs buoyant density accumulation to automate the separation, fractionation and enrichment of sub-cellular particles in a single step.
About Alfa Wassermann, Inc.
AWI has provided high quality products and services to the health care community since 1960. For more than 35 years, Alfa Wassermann Separation Technologies, LLC has been a world leader in separations technology with a line of ultracentrifuges employed for commercial production of vaccines and other research applications. In the 1960s, Alfa Wassermann (then Electro-Nucleonics Inc., or ENI) became the first company to commercially introduce the technology of continuous-flow zonal ultracentrifugation to the biopharmaceutical manufacturing marketplace. Alfa Wassermann Diagnostic Technologies, LLC provides reliable and fully integrated clinical chemistry systems and reagents to laboratories in the clinical diagnostic and veterinary marketplace as well as the life sciences market.
Forward Looking Statements
Statements contained in this press release regarding the Company's intentions, hopes, beliefs, expectations, or predictions of the future are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon the Company's current expectations, forecasts, and assumptions that are subject to risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those indicated by these forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to: unforeseen technological difficulties that the Company may encounter in the development of the PCT technology and the PCT SPS, the possibility that the Company's and AWPT's experiments may not demonstrate an effective use of PCT in the extraction of proteins and other bio-molecules from cells and tissues, the possibility that AWPT may not continue a relationship with the Company after the current collaboration is complete, the possibility that the Company's PCT technology and the AW Promatix 1000 may not be accepted by the commercial market as a method for use in proteomics, and the other risks and uncertainties discussed under the heading "Risk Factors" in the Company's Quarterly Report on Form 10-QSB for the quarter ended September 30, 2006, in the Company's Annual Report on Form 10-KSB, as amended, for the year ended December 31, 2005, 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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|Date:||Nov 29, 2006|
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