Pressure Biosciences Inc (PBIO)

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$PBIO Pressure BioSciences Announces Expansion into Strategic Manufacturing Facilities with Premier Process Technologies Company, Artisan Industries

https://www.accesswire.com/749751/Pressure-BioSciences-Announces-Expansion-into-Strategic-Manufacturing-Facilities-with-Premier-Process-Technologies-Company-Artisan-Industries

Agreement Between Leading Companies in High-Pressure and Process Engineering/Equipment

Technologies Will Deliver Immediate Upgrade to PBIO's Manufacturing Capacity. Agreement Also

Offers Potential for Long-Term Equipment Manufacturing and Supply Relationship.

SOUTH EASTON, MA / ACCESSWIRE / April 18, 2023 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBIO" or the "Company"), a global leader in the development and sale of broadly enabling, high-pressure-based equipment, consumable products, and specialty services to the life sciences field and Artisan Industries, Inc. ("Artisan"), a worldwide leader in providing purification and separation technologies for the process industries, today announced a strategic agreement between the companies.

The agreement focuses on two highly important areas: (i) PBIO will rent space and ancillary support in Artisan's state-of-the-art facilities, which will dramatically increase PBIO's manufacturing capacity for servicing the needs of its growing portfolio of Ultra Shear Technology™ ("UltraShear™ or UST™")-based nanoemulsion clients; and (ii) the relationship is expected to facilitate discussions between the companies towards an agreement that would secure Artisan as the exclusive manufacturer of PBIO's revolutionary UltraShear equipment (the "BaroShear™" line of products).

Mr. Richard T. Schumacher, President and CEO of PBIO, said: "We are excited to have reached an agreement on a leap forward in our manufacturing capacity, capabilities, and strategy that allows us to quickly transition from small, pilot scale lots for test markets (limitation of our current facilities) into large-scale servicing of UltraShear toll manufacturing contracts. We expect that this transition will be completed over the next 30 days. We will also be actively exploring the potential for this relationship to produce an equipment manufacturing partnership, one that can accelerate our execution in scaling large UltraShear partners into our lease-and-license business model for their in-house manufacturing capacity, beginning in 2024."

Mr. Schumacher continued: "This significant expansion of our manufacturing capacity comes at a perfect time, as we are putting the finishing touches on a wide-ranging agreement with cannabis industry leader John Westlake, owner of Canopy CBD Farms. Once executed, John will become the master distributor for all of PBI's hemp-derived cannabis businesses for North America. In this role, we believe John is going to keep PBIO super busy fulfilling product contracts that he will very quickly be bringing to PBIO, as he has the most extensive list of cannabis contacts many of us have ever seen!"

PBIO will continue to accept contracts for toll processing of customer's nanoemulsions requirements for the foreseeable future. Beginning in 2024, PBI's business plan will add a lease and license model, whereby the Company will be placing UltraShear equipment in the hands of customers at the cost of a monthly lease payment plus a toll/royalty rate on the output of the UST equipment. Under this growth strategy, the Company believes it may need hundreds or thousands of instruments over the coming years. The UST System contains a number of unique and complex designs and components; Artisan has an impressive history of innovation, professional manufacturing, and quality management - making them a natural and ideal choice for a prospective equipment building contract.

Mr. Tim L. Davis, President and CEO of Artisan, commented: "At Artisan, we have a deep history and appreciation for technology innovation and effective design implementation. We have monitored the emergence of the nanoemulsions industry and the struggles of multiple existing technologies in attempting to serve the enormous opportunities that exist in the marketplace for nanoemulsions. PBIO has produced a compellingly powerful, robust, reliable, adaptable, and economically scalable technology platform for the delivery of nanoemulsion solutions to capably serve the customers spanning these targeted industries. We are proud and excited to have this opportunity to work with a visionary technology innovator and the seasoned corporate leadership team at PBIO. We are also excited about the possibility of developing a strategic relationship with PBIO as the manufacturer of their revolutionary UltraShear nanoemulsion processing equipment."

Mr. Jeffrey N. Peterson, PBIO's Chairman, summarized: "Newly minted with chemical engineering degrees out of MIT in the 1970's, I had the privilege of working with innovative new process equipment designed by Artisan Industries in my early career in advanced engineering materials businesses. I was highly impressed with the quality, engineering, and performance of their designs on some very challenging product processing problems. It is a truly a serendipitous delight to come full circle in welcoming Artisan Industries as our new collaborator, at this pivotal growth inflection moment in the trajectory of Pressure BioSciences. I have great confidence in the incredibly capable and professional team at Artisan Industries."