We believe investors have a tremendous opportunity relative to Pressure BioSciences, Inc., as is outlined in the report below. While the Company is already demonstrating strong revenue production and sound financial management, we believe Pressure BioSciences could be nearing an inflection point where revenues and investor interest move to higher levels.
The Company is involved in several very large markets that have been growing for years and are likely to continue to grow for the foreseeable future. The specific market subsector in which they are engaged, preparation of laboratory samples for life sciences research, has not seen the level of technological innovation that other subsectors of the life sciences business have realized. This creates a significant opportunity for the Company. The Company’s Pressure Cycling Technology (PCT) for laboratory sample preparation seems to be a significant innovation and with strong intellectual property protection they may have a strong sales cycle ahead as their technology moves into laboratory environment.
We argue that the Company’s proprietary technologies are a sound tactical replacement for many of the antiquated sample preparation systems that are currently in use in thousands of laboratories cross the world, but we also think there is more to this story than simple tactical replacement. It appears to us the significance of the Company’s technologies potentially allow for scientific discovery that has previously not been possible. Several scientists and researchers have recently provided testimonials relative to such discoveries and it appears the Company’s management has already been making plans for the commercialization of these areas.
We specifically point to the recent announcement for product development for forensic rape kits and potentials for novel personalized medicine therapies. While these are clearly in the early stages, there is significant market potential and what appears to be a clear road toward commercialization, especially relative to forensics.
While the future markets for this Company appear to hold great potential, we also have a situation where recent financial performance already likely supports a higher corporate valuation than has been recently demonstrated. As the two expected new products come online, it appears this already ramping revenue could see further acceleration over the next few quarters.
We also like the recently demonstrated ability for this management team to raise funds to pay down debt and to grow revenues. The funds raised have been through private placements the buyers of which are usually significantly more experienced in opportunity analysis compared to average retail common stock purchasers. Some of these private placement buyers have purchased shares at prices above the market price. We think this is a positive signal as it is likely these private placement investors have seen something they like in this developing story.
We also view the shares as a bargain at current levels simply because of the market on which the shares currently trade. It is becoming increasingly difficult for companies such as Pressure BioSciences, Inc., with the stock price of less than $1.00 to attract the type of investors that will truly invest for the longer-term. Simply put, we don’t see that the right group of investors are noticing this story. We believe this situation will be mitigated after the shares are uplifted to a national exchange, most likely in late 2016 or early 2017.
In our opinion, the story should be on the radar screens of risk-averse, small cap investors. We see a lot of value in the shares at current levels and like what we see relative to management’s plan moving forward.
|Introduction – Pressure BioSciences, Inc.
Pressure BioSciences, Inc. is located in the city of South Eaton, Massachusetts, which is located just outside of Boston. The Company began operations, in its current form, in early 2005, and began marketing its first instruments in 2007. In 2012, it began marketing a line of proprietary laboratory sample preparation equipment based on its patented Pressure Cycling Technology, which is called more conveniently referred to as PCT.
We view Pressure BioSciences as a quality company with an innovative product line and a strong patent portfolio. The strength of its management team, its board of directors, its marketing and distribution partners, its ability to raise relatively low cost of capital funds, and the sheer size of the markets it is targeting, make it unique among most small-cap companies trading on the OTCQB. As such, we believe management is actively grooming the Company for uplifting to a national exchange, which will hopefully also attract brokerage-oriented research coverage. We believe there is a very high likelihood of this being accomplished during late 2016 or early 2017, which will likely furter lower the Company’s cost of capital and attract additional investors.
The Company is fully reporting with the Securities & Exchange Commission, trading under the symbol “PBIO” on the OTCQB Venture Marketplace, which is the OTCMarkets category for entrepreneurial and development stage companies. Eligibility for this stock-trading marketplace requires the Company to maintain full reporting status with the SEC, along with other requirements. Over the past few years, the Company has done an excellent job in maintaining SEC reporting compliance, with zero extensions or late filings. As of the most recent report filed with the Commission, which was on May 15, 2016, Pressure BioSciences noted that there were 27,649,427 common shares outstanding, before preferred stock conversions.
The Company is introducing a new technology into the life sciences laboratory environment, which is now starting to gain traction. Just as it occurs with many new technologically innovative products, adoption does not take place overnight and Pressure BioSciences efforts have seen similar results. It appears, however, that the Company may be on the verge of significant progress in convincing laboratories to implement its advanced technologies.
As we indicated above, the Company has focused initially on the market for equipment involved in sample preparation for the research sector of the life sciences market. The industry in which they are involved is rather technical, which we believe confuses many individual small-cap investors. In this report we seek to simply explain this Company’s revolutionary technology and why it is important to several industries that spend billions of dollars on research. We think there is a compelling argument relative to the importance of Pressure BioSciences’ pressure cycling technology platform.
Pressure BioSciences’ Technologies Explained
Pressure BioSciences is introducing a complex new technology into a highly complex research and product development oriented life sciences laboratory market. Many of the technical details relating to the Company’s technologies are likely beyond the scope of what most small-cap investors care to understand. With that said, we believe investors need a little bit of the basics of the technologies and markets in order to really appreciate what this Company is trying to accomplish. Below, we offer a layperson’s overview of these technologies and marketplaces.
Pressure BioSciences has focused initially on the market for equipment involved in biological sample preparation for the laboratory and research sector, which within the investment community is sometimes referred to as a subsector of the overall life sciences market. Specifically, the Company sells its products into mainly research laboratory environments of companies, universities, and government entities that are interested in analyzing the various molecules within cells, such as proteins, lipids, DNA, RNA, etc. The Company estimates that there are approximately 80,000 such research labs worldwide.
There are several reasons these laboratories wish to analyze the various components in cells, which include the following:
§ Identification of biomarkers – Research into the identification of biomarkers is a multibillion-dollar business worldwide, which continues to grow at a rapid rate. Biomarkers are simply substances within cells, or related to cells, that potentially link to a condition or disease. For example, cancerous tumor cells produce cancer biomarkers. Therefore, the identification of, and the amount of, such biomarkers in the blood stream could lead to effective early diagnosis and possibly the development of specific therapies to treat the cancer.
§ Protein Research – The study of proteins, which is called proteomics, has significant overlap with disease biomarker identification, but also includes other research areas such as drug research and the study of diseases and pathogens.
§ DNA Extraction – The extraction of DNA from cells is needed for a variety of purposes including identification and forensics, gene research, sequencing, and many other research oriented activities.
§ Other Research Areas – Research on components of cells reach many other life sciences related areas, including genomics (genes), transriptomics (RNA), and metabolomics (metabolism).
As we mentioned above, there are many components to cells, including, but not limited to the cell membrane (the outside of the cell), proteins, genetic materials (DNA/RNA), and organelles, which are the parts of the cell that carry on vital functions. In order to perform the research we outlined above, it is often necessary to extract and isolate these cellular components so that further study and analysis can be performed.
Therefore, it is necessary to break open the cell in order to extract, identify, and isolate the various components we outlined above. This process is called cell lysis and extraction (together, “sample preparation”) and is the primary laboratory function in which Pressure BioSciences is engaged.
Cell lysis is, in simplest terms, the breaking down of the outside membrane of the cell so that the components can later be extracted, identified, and isolated. Cell lysis is also often called cell disruption. Let’s take a look at a simple example of why a research laboratory might need to go through this complex process.
Diagram One shows a simplification of cell lysis. For example, a researcher in a pathology laboratory may wish to isolate a virus that has invaded tissues. A sample of these tissues could be taken and processed through various laboratory equipment and processes in order to break down the relevant cells, releasing each cell’s individual components. The virus could then be isolated for work in the scientist’s specific research.
Simply put, Pressure BioSciences manufactures, sells, and supports equipment to achieve the process.
Within the laboratory environment, the process of releasing the molecular components of cells generally fall into the broad area called sample preparation. Sample preparation includes other functions in addition to these areas, but cell lysis is a major component of the overall process. According to many who watch the research laboratory and pharmaceutical industries, the process of sample preparation consumes approximately 60% of laboratory workload and according to market research firm, Markets and Markets, LLC, was valued on a worldwide basis at approximately $4.3 billion in 2013 with expected growth to nearly $6 billion by 2018.
Cell Lysis Techniques – Old and New Methods
Of course, the process of cell lysis is not new and over the years there have been many different technologies developed to achieve this process. These have involved a variety of physical and chemical manipulation techniques of the cells, which for the past few decades, and for the most part, have been adequate relative to the research laboratory objectives.
While legacy technologies in the sample preparation area were adequate for many years, many in the research and scientific communities no longer hold this view. For example, over the past twenty years, there have been significant advances in the science of proteomics (protein research), which is an area where the Company is closely engaged. The primary piece of laboratory equipment used for proteomics analysis in research labs worldwide is called a mass spectrometer, which measures the mass and relative concentrations of the molecules and atoms within a sample (in other words, it reads proteins). Over the past two decades there have been very significant enhancements to mass spectrometer technologies allowing the instruments to be much more precise in their measurement, and much faster in operation. The technologies on which other laboratory testing devices are based have also advanced rapidly.
Biological samples that are analyzed in mass spectrometers and other devices must be prepared before such testing and analysis can take place. This area of sample preparation is one of the more exciting and larger subsectors of the laboratory environment in which Pressure BioSciences is engaged.
While there has been rapid technological change within the technologies and devices used for sample analysis, there have been far fewer advances in the area of sample preparation. Thus, many laboratories still rely on the same technologies that have been in place for decades, which are based on the physical manipulation of the cells within the biological samples. These technologies were not built to be used with the advanced analytical machines used in today’s research laboratories.
Some of these physical manipulation technologies are amazingly primitive: some are basically high tech blenders and crushers that are designed to break up cells thus extracting components, which can then be analyzed by the mass spectrometers in the laboratory. This is not to say there have been no technological innovations in this area, as there clearly have been. However, many of these innovations were small improvements rather than generational leaps in technology.
For many years, these legacy sample preparation technologies were relatively effective and the fact that they had not been significantly updated did not lessen laboratory productivity or the types of research that could be performed. This changed several years ago as additional technological enhancements were brought to the “downstream” areas of biological laboratory research. As these advances accelerated, the legacy sample preparation technologies started to become bottlenecks in the laboratory process. While this clearly related to the amount of time required for sample preparation, it also related to the quality of the molecules being extracted from the lab samples, and the types of research that could be performed. Over the past few years, many in the laboratory research industry, including the executives at Pressure BioSciences, began to realize that a generational update in laboratory sample preparation methods and operations was needed.
Enter the New Technology
Pressure BioSciences’ products are specifically designed to remedy the inadequacies of currently available laboratory sample preparation equipment and techniques. Whereas current products are mainly based on mechanical manipulation of the cells within the biological sample, the Company has developed a new technology called pressure cycling in order to release the microscopic contents of cells (“biomolecules” such as DNA, RNA, proteins, lipids, etc.) during the sample preparation phase of biological research.
Much of sample preparation involves the breaking down of the cell membrane in order to release the microscopic biomolecules within the cell. This process is explained below.
The Company’s products used to extract the microscopic contents of cells are based on technologies in the area of high hydrostatic pressure, which Pressure BioSciences calls Pressure Cycling Technology, or PCT. The Company integrates this PCT technology into laboratory equipment systems, such as the one outlined in Diagram two, which is the Company’s Barocycler NEP2320 model.
This system, and other similar products available from Pressure BioSciences, uses alternating cycles of hydrostatic pressure cycle between normal atmospheric pressure (about 14.5 pounds per square inch of psi) and ultrahigh levels, of approximately 45,000 pounds per square inch, and even higher (up tom 90,000 psi), to affect the required manipulation of the biologic cell samples. In an over simplification, this cycling of the pressure within the machine creates somewhat of a sponge like affect on the cell – effectively, squeezing it and releasing it – and then repeating in the process – in order to empty the biomolecule contents (the cell lysis process, explained above) contained within the cell. In reality, biological samples are placed inside a consumable test tube made and sold by the Company (such as the PULSE Tube shown in Exhibit Three). The consumable test tube container is then placed inside a steel pressure chamber of one of the models of the Company’s pressure generating instruments.
With computer microchips and software programs, this hydrostatic pressure cycling can be precisely controlled in order to achieve the desired effect. The settings for this cycling can be controlled by the laboratory personnel or can be controlled by pre-programmed instructions installed into the machine during the manufacturing process.
While the primary business of the Company is to sell the actual systems, it also receives an ongoing revenue stream by selling the consumable test tubes in which samples are inserted before the test tubes are inserted into the machine.
The Company has released several versions of this technology, which are targeted at specific laboratory testing applications and laboratory volumes.
Why Does This New Technology Matter? – Better Samples Lead to Better Discoveries
Lysis Elegance – As we indicated above, cell lysis technologies have not kept up with technological advancements in other areas of laboratory research process. These legacy technologies, for the most part, were not particularly elegant in ripping apart the cells and exposing the contents. In some areas of research this has not mattered, but it does matter to much of the more advanced research initiatives that have come into being over the past few years. The legacy technologies can potentially damage or lose certain cellular components. Because the PCT technology can be precisely controlled in order to achieve the exact desired outcome, the breakdown of the cell can be done much more efficiently and with far better quality.
Repeatability – There is considerable variability in the sample preparation process when some of the legacy technologies are utilized. Some of these technologies are human controlled, not computer controlled, and thus are highly variable, producing results that may at times be difficult to replicate. While a few of the newer technologies are microprocessor controlled, these controls are still at least one generation of computer technology behind the Company’s products. With precise control based on both preprogrammed and customized settings, laboratory results based on PCT can be highly repeatable, which of course is desired in almost any scientific environment.
Speed – With up to 60% of laboratory resources going toward sample preparation, any technology that can make the sample preparation process more time and cost efficient is of great interest to scientists and laboratory managers. PCT technology, depending on the specific application, is capable of significantly reducing the time required for sample preparation.
Biohazard Reduction – Biohazard protection has been built into the PCT machines during the design phase. Many of the manual cell disruption technologies can potentially lead to contamination. This is far less of an issue relative to the Company’s technologies.
Enables Laboratory and Scientific Personnel to Focus on the Glamour Areas – Generally speaking, there are three stages of laboratory scientific research – 1) sample preparation, 2) sample analysis, and 3) data manipulation and interpretation. Researchers and scientists don’t exactly relish the process of sample preparation and would much rather focus on the glamour areas of analysis and data interpretation. There is certainly an attitude in the laboratory that lower level employees perform the mundane tasks of focusing on sample preparation.
Enables New Areas of Research – The PCT process is so much more efficient that scientists and researchers will now be able to design projects that were simply impossible before. The Company has well publicized many areas of advanced research that were simply impossible, or were too cost prohibitive, to pursue before PCT technology became available. These include research in cardiology, bioterrorism, drug development, biomarker discovery, personal medicine, and even forensics.
We believe one of the most exciting aspects of the Company’s technology is that it not only holds the promise to make a lot of money for investors as the Company replaces certain segments of the legacy sample preparation equipment currently in use, but also because the technology holds the promise to be an important link in the chain toward advanced therapies and products that could potentially save lives and/or significantly improve human and animal health.
Early Market Targets for the Company’s Products
Biomarker Research and Applications – Likely the most significant near-term opportunity for the Company relates to research for biomarker identification. According to Allied Market Research, the global market for diagnostic biomarkers is expected to reach approximately $31 billion worldwide by 2020, which would represent a compound annual growth rate of approximately 16%. The market research firm further estimates that the most lucrative ongoing area will be disease diagnostic applications, which is expected to reach over $6 billion by 2020, led by some of the largest scientific and laboratory equipment manufacturers in the world, including Roche, Siemens Healthcare, Abbott Laboratories, and Thermo Fisher Scientific.
Relative to biomarker research, the samples that are prepared utilizing the Company’s technologies are usually then analyzed in mass spectrometers. According to Transparency Market Research, the global spectrometry market is expected to reach over $15 billion by the end of next year, which would represent an annual compound growth rate of nearly 7%. While sample preparation via cell disruption is a step that occurs before the analysis takes place within the mass spectrometer, the processes are very closely linked.
One of the potential outcomes of the advancements in sample preparation that could result from the implementation of the Company’s PCT technology is that analysis in mass spectrometer’s will be much more efficient possibly resulting in new scientific discoveries.
While the large manufacturers of spectrometry equipment have not been particularly interested over the past few years in partnering with, or in acquiring companies in the sample preparation area, the significant enhancements in the science offered by PCT technology could possibly change their minds.
Forensics – While the Company’s technologies were primarily designed with protein and biomarker research and product development in mind, the technology has proven so flexible that other applications, such as DNA extraction are potential new markets for PCT based systems.
A variety of government and private laboratories spend considerable sums of money on DNA detection equipment. This sector may soon starting expressing interest in PCT technology if the Company can perfect the DNA isolation and extraction aspects of its products. To this point, the NIH recently awarded Pressure BioSciences a grant worth more than $1,000,000 to help perfect such a DNA sample preparation system.
Relative to the forensics market, during mid-October the Company announced a collaborative effort with Company advocate Dr. Bruce McCord, from Florida International University, relative to using PCT technology to reduce the time and expense involved with the processing of biological material from rape kits. The PCT technology holds the promise to simplify the process of isolating male DNA from female DNA with the development of a product based on this technology potentially contributing to the significant reduction in the nearly 400,000 case backlogs that exists within the United States.
As a result of the successful research findings to date, the Company recently announced a formal collaborative research and development agreement with Dr. McCord and Florida International University, the goal of which is to develop a rape test kit based on the Company’s PCT platform and have it available to the market in about 18 months.
Cancer and Tissue Sample Storage – Over the past few decades, millions of tissue and cancer cell samples have been collected and saved. Many of these samples have been preserved by embedding in paraffin, a process known in the scientific community as Formalin Fixed Paraffin Embedding (FFPE). While the samples are potentially excellent sources for molecular studies in order to develop advanced therapies, the FFPE process affects the proteins within the biological samples making the extraction of biomarkers and the proteins highly problematic. The Company believes its PCT technology offers significant advantages over currently available sample preparation technologies being used to extract proteins from FFPE tissue samples, especially relative to molecular recovery, processing speed, and safety of the laboratory personnel performing sample preparation and analysis.
Personalized Medicine – The Company recently announced the publication of a scientific article by a well-known Chinese scientist and her colleagues, which outlines the minimal sample size used by the researchers for protein qualification. The Company’s PCT platform was used in the protocols. Management of the Company believes the article shows that the PCT platform has the ability, based on very small sample sizes, to reveal thousands of proteins (vs. hundreds using current methods) and that this ability could have wide sweeping implications for the development of personalized medicine.
The Product Line
The Company’s main product line, named Barocycler (for “pressure cycler”), is being produced in five different versions, one of which is shown in Exhibit Two. The various models vary in the number of samples that can be processed and the amount of pressure that can be utilize during this sample preparation process.
In addition to products at the systems level, the Company also sells disposable reaction containers (“test tubes”) in which biological samples are inserted before the tubes are inserted into the Barocycler instrument system. This provides the Company an ongoing recurring revenue stream for as long as the system is installed and utilized at the customer’s site as the consumable test tube technology is proprietary.
The Company is also in process of releasing two new instrument systems, which are expected to positively impact 2016 revenue. In particular, we believe the high throughput Barocycler, called the Barozyme HT48, that will begin shipping next year is especially important. The current generation of products allow for manual processing of individual sample tubes of which up to 48 sample tubes can be processed at one time. The new generation of technology will allow for automated processing of multiple sample tubes simultaneously. We believe this technology is especially important as it will more closely integrate the Company’s products with the processes currently underway within many laboratory environments, especially related to spectrometry.
Sizing the Market Opportunity
The Company is engaged in a market where laboratories have large annual budgets, some of which are in the tens of millions of dollars. It is thought that there are more than 80,000 research laboratories worldwide engaged in biological research, which employee nearly a million scientists. These laboratories are involved in many research areas, outside of human related activities, including veterinary, plant, and microbiological level research.
The Company’s primary target area, laboratory sample preparation, will likely be worth slightly more than $8 billion worldwide during 2016, with moderate growth expected for the foreseeable future. The equipment market to which the Company is most closely aligned, mass spectrometry, continues to grow and is likely currently valued at in excess of $13 billion annually. Several other areas in which the Company is closely aligned also produce billions of dollars per year.
We believe is still too early to determine exactly which markets the Company will be able to penetrate over the coming years. Certainly, the forensic related marketplace holds great promise, but it appears that a product will likely not be available to services marketplace until sometime in 2017.
In the meantime, we believe Pressure BioSciences has sufficient market opportunities, in other very large and growing markets relative to its current and soon to be commercialized PCT sample preparation platforms and products.
Recent Corporate Performance
The balance sheet dated as of the end of the quarter ending March 31, 2016, is below as Exhibit Five.
We were very pleased to see an additional consecutive quarter of strong financial performance even though the Company, in our opinion, has not even come close to hitting is true stride relative to sales and marketing efforts. The management team has a lot to be proud about relative to this recent performance. Revenue growth continues to be strong as does cost containment. As a result, they are developing a reputation for meeting expectations.
The Company reported a solid March 2016 quarter of $510,478 compared to $359,364 during the March quarter of 2015.
The balance sheet reported as of March 31, 2016 requires careful analysis. Total assets grew to $1.97 million from $1.8 million as of the end of the December quarter. Total liabilities also grew very significantly from $9.6 million to $14.8 million. Investors should be careful with considering these liability numbers as most of the increase realized during the March quarter was a result of the huge increase in the warrant and option derivative liabilities. It’s important to remember these are accounting and not cash flow related and are thus rather meaningless. With the accounting-related entries netted out, the balance sheet appears much healthier.
In fact, over $12.5 million of the $14.8 million falls into the category, thus making the balance sheet almost above water. We believe this is an important observation.
The much discussed co-marketing agreement with SCIEX, which is a subsidiary of Danaher Corp. (NYSE:DHR) did not produce revenue during the quarter, but this is of little concern to us as we believe such revenue production is close at hand. Regardless, the Company still produced reasonable organic growth during the March quarter of 41% for instruments and 11% in consumables. However, grant revenue dropped by 31%. Nevertheless, we believe investors should be excited about the organic revenue growth.
The Management Team and Directors
This Company has assembled quite an impressive management team and board of directors. While we have not listed all of the directors below, we do point out that the chairman Jeffrey Peterson is an accomplished entrepreneur in a related field, and a long time executive in other industries. This is not to discount the qualifications of the other directors, which are also impressive.
At present time the chief financial officer position remains open, but we would not be surprised to hear about a new CFO over the short term. The current CEO and founder of the Company Richard T. Schumacher, is highly experienced and has built successful companies within this sector in the past. The Company has three PhDs on staff who handle the engineering, research and development, and operations.
It is clear that Pressure BioSciences has accomplished much with a very limited executive and non-executive staff, and with very limited capital over the past four or so years. As the Company has publicly disclosed, it expects to add substantially to its marketing and sales personnel in order to capitalize on the strong growth that appears be in front to of the Company. We are very excited about this as we believe this could drive impressive revenue growth.
The bios of the four major executives at the Company are outlined below. We encourage the reader to access the Company’s website to review the impressive credentials of the Company’s directors.
Mr. Richard T. Schumacher, the founder of our Company, has served as a director of Pressure BioSciences since the formation of its legacy business, Boston Biomedica, Inc., in 1978. He has served as CEO of Pressure BioSciences since April 2004 and President since September, 2004. He previously served as CEO and Chairman of the Board of Boston Biomedica from 1992 to February, 2003 and as President from 1986 to August 1999. Mr. Schumacher served as the Director of Infectious Disease Services for Clinical Sciences Laboratory, a New England-based medical reference laboratory, from 1986 to 1988. From 1972 to 1985, Mr. Schumacher was employed by the Center for Blood Research, a nonprofit medical research institute associated with Harvard Medical School. Mr. Schumacher received a BS in Zoology from the University of New Hampshire.
Dr. Edmund Ting joined Pressure BioSciences as Senior Vice President of Engineering in April, 2006. Prior to joining the company, Dr. Ting served as the Chief Research Officer of Avure Technologies, a leading worldwide manufacturer of high pressure hydrostatic processing equipment for the food and materials processing industry, Flow International Corporation, a world leader in the ultrahigh pressure waterjet cutting technology market, and the parent company of Avure Technologies. Dr. Ting last held the position of VP of Engineering Research and Development at Flow International Corporation. Dr. Ting was also a research scientist and a group leader at Grumman Aerospace Corporation. Dr. Ting earned a BS degree in mechanical engineering from Northeastern University and a Sc.D. in materials science and engineering from the Massachusetts Institute of Technology.
Dr. Nathan P. Lawrence, Ph.D. Dr. Lawrence joined Pressure BioSciences Inc. in August, 2005, serving as Director of Research and Development until his promotion to Vice President of Marketing and Business Development in April, 2006. Dr. Lawrence was responsible for the development of protocols based on Pressure Cycling Technology (PCT). From 2004 through 2005, Dr. Lawrence worked for 454 Life Sciences in product development and prior to 454 Life Sciences, Dr. Lawrence was Director of Research and Development for Boston Biomedica, Inc. He was responsible for the development of PCT, as well as the development of nucleic acid-based diagnostic assays. Prior to joining Boston Biomedica, Inc., Dr. Lawrence held several positions with increasing responsibility in Research and Development and manufacturing at Becton Dickinson and Gene Trak Systems. Dr. Lawrence holds a BA from the University of Miami, an M.S. from Southern Connecticut State University, and a Ph.D. from Yale University
Dr. Alexander Lazarev, Ph.D. joined Pressure BioSciences in April, 2006 as Director of Research and Development and was promoted to Vice President of Research and Development in March, 2007. Prior to joining Pressure BioSciences, Dr. Lazarev worked as a Visiting Scientist at the Barnett Institute of Chemical and Biological Analysis at Northeastern University, and served as a Director of New Technology Development at Proteome Systems, Inc., where he was involved in research and development of innovative proteomic analysis applications. Dr. Lazarev previously held senior research positions at Genomic Solutions, Inc. and PhytoChem Technologies, Inc. Most of Dr. Lazarev’s scientific career has been dedicated to development of methods and applications for biochemical analysis. Dr. Lazarev has been elected as an Executive Board member of the MASSEP.org, a non-profit scientific discussion forum dedicated to the promotion and improvement of chromatography and other analytical technologies. Dr. Lazarev earned his undergraduate and graduate degrees at the University of Kazan, Russian Federation.
As we outline in our executive summary and elsewhere in this report, we think the management team of this Company and its board of directors have done a tremendous job thus far. The markets in which the Company is engaged are large and continue to grow. It seems as if they have invented a superior technology to address one of the major and most important areas within life sciences laboratory research that has seen little innovation in many decades. They have also designed what appears to be robust products based on strong patent protection to address these current technology inadequacies.
As is also stated elsewhere in this report, we are not particularly focused on the recent or upcoming near term financial performance, as we believe the future market opportunity in front of this company is significant. Thus, we would hate to see this management team miss out on long-term opportunities trying to meet near-term expectations of investors. While at the present time we, and we believe the vast majority of other investors, still consider the Company’s shares to be speculative, we see a scenario quickly developing where many of the market and Company risk factors will be significantly mitigated.
The bottom line for us relative to Pressure BioSciences is the following: It appears they have actually developed a significantly improved technology targeting a relatively stagnate portion of a very large market. The products have strong intellectual property protection, the Company has recently demonstrated its ability to raise funds in order to move these technologies into the marketplace, and management has more than demonstrated its ability to navigate within its environments.
If these trends continue and the Company effects the expected reverse stock split to up lift to a national exchange, such as NASDAQ, this will also likely allow it to attract mainstream institutional investor and investment banking support. We are positive on PBIO.
We do not own these shares and have no plans to acquire, purchase, sell, trade or transfer these shares in any manner. Any opinions we may offer about the Company are solely our own, and are made in reliance upon our rights under the First Amendment to the U.S. Constitution, and are provided solely for the general opinionated discussion of our readers. Our opinions should not be considered to be complete, precise, accurate, or current investment advice. Such information and the opinions expressed are subject to change without notice. Separate from the factual content of our articles about the Company, we may from time to time include our own opinions about the Company, its business, markets and opportunities.
The information used and statements of fact made have been obtained from sources considered reliable but we neither guarantee nor represent the completeness or accuracy. We did not make an independent investigation or inquiry as to the accuracy of any information published by the Company, or other firms. The author relied solely upon information published by the Company through its filings, press releases, presentations, and through its own internal due diligence for accuracy and completeness. Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results.
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