Pressure BioSciences (NASDAQ:
PBIO) is a life science research tools company that is commercializing and developing its innovative core technology platform known as pressure cycling technology (PCT).
PCT uses cycles of hydrostatic (water-based) pressure between ambient and ultra-high levels (up to 45,000 PSI) at controlled temperatures to rapidly and repeatedly control interactions at the molecular level. The Company sells and installs pressure-generating instruments (Barocyclers), and its internally developed consumables product line includes PULSE (Pressure Used to Lyse Samples for Extraction) Tubes as well as application specific kits which include consumable products and reagents (ProteoSolve kits) which together make up the PCT Sample Preparation System (PCT SPS).
The pressure generated by this process occurs quickly (three seconds) and is equal to 2-3X the pressure that occurs at the deepest part of the ocean (i.e. over five miles below the surface at the Mariana Trench). PCT involves the compression of water which is mostly transferred to the sample since water only compresses a small amount (about 6%). Pressure and temperature for the system is controlled by a microprocessor for programming based on the pressure profile characteristics of the sample.
PBIO currently focuses its efforts on the development and sale of PCT-enhanced enzymatic digestion products designed specifically for the mass spectrometry marketplace, as well as sample preparation products for biomarker discovery, soil and plant biology, forensics, histology, and bio-defense applications. The Company currently holds 13 U.S. and 6 foreign patents covering multiple life sciences applications of PCT, including those outlined below.
1.) sample preparation for genomic, proteomic, and small molecule studies (e.g. the drug discovery process);
2.) pathogen inactivation (e.g. bio-defense and food safety issues with Salmonella and E. coli);
3.) protein purification (e.g. monoclonal antibodies);
4.) control of enzymatic reactions (e.g. breakdown and analysis of proteins);
5.) Immunodiagnostics (clinical lab testing).
Current customers of PBIO include more than 75 instrument placements for use by researchers at a wide variety of academic labs, government agencies, and biotechnology, pharmaceutical and other life sciences companies in the U.S. and abroad – such as Amgen (NASDAQ: AMGN), Novartis (NYSE: NVS), Eli Lilly (NYSE: LLY), Monsanto (NYSE: MON), Pacific Northwest National Laboratory, government agencies (e.g. NIH, FDA, FBI, USDA), and universities (e.g. Harvard and NYU).
On 8/10/09, PBIO announced 2Q09 results, including total revenue of $270,381 (+125% from the year-ago period), which included sales related to PCT products and services of $159,202 (+35% from the year-ago period) and the installation of 12 Barocycler instruments (versus seven in the year-ago period) and $111,179 in grant revenue (versus $2,486 during 2Q08).
