Monday, 7 May 2012

Pressure BioSciences, LEAP Technologies sign key co-operation deal

Pressure BioSciences (OTCQB:PBIO) and LEAP Technologies Monday signed a strategic co-development, co-marketing, and co-selling agreement, they said.
Under the agreement, the companies plan to develop a next generation sample preparation system by combining PBI’s patented pressure cycling technology (PCT) platform with LEAP’s proprietary robotics and lab automation equipment.
The companies share an industry focus in proteomics sample preparation, primarily in mass spectrometry, an analytical technique used to determine the characteristics of molecules.
PBI and LEAP believe that by combining the best attributes of both technology platforms, they can develop a sample preparation system "superior in quality and robustness" to current methods.
Proteomics is the study of the structure and function of proteins, which has provided new and important insights into human health, and has resulted in a better understanding of diagnosis, prognosis, and possible cures of various diseases.
Automated sample preparation methods increase the precision and quality of laboratory testing, which in-turn lifts the probability of discovery. To that end, increased discovery leads to the development of new and improved vaccines, therapeutics and diagnostics.
President and CEO of Pressure BioSciences, Richard T. Schumacher, told Proactive Investors: "LEAP is an important player in the robotics/lab automation area, especially in mass spectrometry sample preparation workflow. This is a marriage made in heaven.
"We make a great team, as they have proprietary equipment/software and we have instrumentation based on patented, game-changing technology. This is the beginning of what we believe will be a long and mutually-beneficial relationship."
LEAP Technologies has been providing proprietary robotics and laboratory automation equipment and support for specific applications for over 20 years.
Pressure BioSciences, meanwhile, is focused on the development, marketing, and sale of proprietary laboratory instrumentation and associated consumables based on its PCT platform.
The platform uses rapid and repeating cycles of hydrostatic pressure at controlled temperatures to extract cell components in the preparation of a biological sample, such as DNA and proteins from humans, animals and plants, for further study.
The applications of the company's PCT-based products are endless - from the key $2 billion target market of mass spectrometry, to biomarker discovery, forensics and counter-bioterrorism, among other uses.
CEO of LEAP Technologies, Werner Martin, said: "PCT is a powerful and enabling technology platform. Because of its clear advantages, mass spectrometry laboratories have begun to integrate PCT into their standard sample preparation workflow, even though the PCT method has not yet been fully automated.
"This has created a wonderful opportunity for us to partner with Pressure BioSciences, as we have the experience and expertise to bring automation to their patented PCT Platform."
"Over the past 20 years, we have developed a strong reputation in robotics and laboratory automation while working with many of the leading life sciences companies in the world, such as Waters Corporation and Agilent Technologies.
"With a growing need for automation, we look forward to developing, marketing, and selling the next generation sample preparation system for proteomics with our colleagues at PBI."
Since Pressure BioSciences began commercial operations in the middle of 2007, it has come a long way, releasing a number of PCT-based products geared towards the $6 billion sample preparation market, including three pressure-generating instruments named Barocyclers, a patent-pending sample homogenization device (The Shredder SG3), five types of single-use processing containers and six different, application-specific reagent kits.
Late last month, the company signed expanded technology license and supply agreements with Target Discovery Inc, giving Target the right to use its PCT platform for a planned entry into the clinical diagnostics testing market.

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