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Tuesday, 4 June 2013
Pressure BioSciences says new high throughput design for platform technology expected to accelerate growth
Pressure BioSciences (OTCQB:PBIO) says it has a new high throughput (HT) design for its patented pressure cycling technology (PCT) that will integrate its platform with the automated HT sample preparation and analytical system formats installed in thousands of research labs globally.
The company, which is developing the PCT platform for multiple applications, says it believes that this breakthrough has the potential to "significantly accelerate" its growth in existing and new PCT-based applications and products, as well as in its ability to attract new strategic partnerships and its overall revenue ramp-up.
“To achieve proof-of-principle for a HT PCT-based multiwell system operating under the extremes of PCT conditions was a daunting engineering task, and now an amazing achievement," said president and CEO of Pressure BioSciences, Richard T. Schumacher, in the release Tuesday.
"Because current multiwell plates cannot withstand the high pressures and temperatures demanded by the PCT process, it was necessary to design and develop multiwell plates that simply do not exist in laboratories today."
The company had to redesign the entire pressure system of the PCT platform, but the work is expected to bear fruit. According to its statement, Pressure BioSciences believes there are more than 80,000 research laboratories working with biological samples worldwide and that many of these labs use automated, HT sample preparation and systems in their studies.
The high throughput systems generally use "multiwell" test plates for processing and testing a large number of lab samples at once, in an automated approach. Currently, prior to the implementation of the new design, the PCT platform uses individual test tubes that require "a lot of" manual sampling handling, said the company, preventing the PCT technology from being better accepted by the scientific research community.
“First generation HT PCT platform applications are being planned for enhanced enzymatic digestion, deglycosylation, and lipid profiling. We expect beta units to be built and tested by the end of 2013, and market-ready units to be available for sale in the first quarter of 2014," added Schumacher.
"We believe this technology breakthrough is a game-changer for PBI.”
In May, the company's shares rallied after it said that researchers at Harvard Medical School published a scientific paper describing a non-invasive method that could potentially screen for multiple diseases by gaining information about the gastrointestinal (GI) system, using PCT and certain chemicals.
Pressure BioSciences is focused on the development, marketing, and sale of proprietary laboratory instrumentation and associated consumables based on PCT, which has several applications in the estimated $6 billion life sciences sample preparation market. Other applications for PCT include mass spectrometry, bio-therapeutics characterization, vaccine development, soil and plant biology, forensics, histology, and counter-bioterror applications.
It reported a 21 per cent increase year-over-year in revenue with PCT products last month, and said it expects to release several new products in 2013.
Shares of the company are up 75 per cent since the start of the year, and are currently sitting at around 35 cents.