Pressure BioSciences Announces Planned Name Change to "Availa Bio"
Following Completion of Cannaworx and SkinScience Labs
Acquisitions
Merged Companies to Operate as Synergistic Divisions. New Corporate
Identity Focuses on Optimizing Bioavailability, Absorption, Quality
and Performance of Human, Animal and Agricultural
Products.
South Easton, MA
-- May 5, 2020 -- InvestorsHub NewsWire -- Pressure BioSciences,
Inc. (OTCQB: PBIO) ("PBI" or the "Company"), a leader
in the development and sale of broadly enabling, pressure-based
instruments, consumables, and platform technology solutions to the
worldwide biotechnology, biotherapeutics, cosmeceuticals,
nutraceuticals, and food & beverage industries, today announced
its intention to change the corporation's name to Availa Bio upon
completion of the acquisitions and merger of Cannaworx, Inc. and
SkinScience Labs, Inc. with PBI. The three companies will
operate as synergistic divisions within the combined "Availa Bio"
entity. This strategic change in corporate identity and
branding reflects the science-driven collaboration of the companies
focused on the overarching priority of leveraging the revolutionary
Ultra Shear Technology™(UST™) platform to bring significant new
value to consumers in optimized bioavailability, absorption,
quality and performance across Availa Bio's diverse range of human,
animal and agricultural products being introduced in the coming
months or already on market.
Mr.
Richard T. Schumacher, President and CEO of PBI, explained: "PBI's
UST platform offers the potential to deliver an extraordinary
breakthrough in creating unique, high quality nanoemulsions of oil
in water. A vast range of personal care and consumption
products, including nutraceuticals, cosmetics, pharmaceuticals,
food & beverages, all face the perplexing challenge of getting
active oil-based nutrients or therapeutic ingredients to become
easily absorbable and effective in the water-based biology of our
bodies. The opportunity to combine our strong engineering and
biotech capabilities with two companies that already provide
product innovation and brand leadership in diverse consumer product
areas is very exciting and allows us to clearly move the identity
and market focus of the combined companies from science platforms
to the value delivery of availability and performance of active
ingredients in final products."
Dr.
Bobby Ghalili, President of Cannaworx, Inc., expanded: "My
co-founder in Cannaworx is Dr. Adrienne Denese, MD, Ph.D., the
founder, innovator and spokesperson behind over $500M in Dr. Denese
SkinScience product line sales for the past 17 years on QVC. These
skin care and anti-aging products are part of our planned rollup of
companies under Availa Bio. In our
rapidly
expanding line of innovative human, veterinary and agricultural
products, several of which incorporate phytocannabinoids from hemp
oil, we are
utilizing
our
own oral and topical proprietary bioavailability and absorption
delivery technology. The UST platform will now allow us to deliver
high performance nanoemulsions,
further
increasing both bioavailability and absorption rates. Our planned
rollout of Cannaworx products over the coming months includes two
patented oral phytocannabinoid formulations that incorporate
indications for pain relief allowed under an FDA OTC monograph. We
believe our combined portfolios of intellectual property
will
give
Availa Bio a significant competitive advantage within the
industries we
serve."
With
an IP Estate of 31 issued and an
additional dozen
or
more
pending patents, an existing worldwide base of hundreds of
corporate and thousands of retail customers, multiple products
already on the market with many more expected to be launched in the
weeks and months ahead, Availa Bio plans to disrupt large,
addressable markets, as it marches toward profitability and
increased shareholder value. The markets expected to be served
include: the U.S.
hemp-derived CBD market (anticipated to reach
$23.7 billion by 2023),
the
international cosmetics market (projected at
$758 billion by 2025),
the
global biopharmaceuticals market (expected to
reach
$389 billion by 2024),
the global food & agriculture technology and products market
(estimated at
$729 billion by 2023),
and the worldwide
food and beverage market.
Dr.
Denese, President of SkinScience Labs, added her enthusiasm for the
combination of the three companies: "My decades of development and
marketing of skin care and anti-aging products that meet the
scrutiny and demands of an extremely loyal following of consumers
has always required us to be leaders in quality and performance,
not just for results but in the entire product experience perceived
by our users. We quickly realized that
the
Ultra Sheer Technology platform offered the opportunity to
improve not only the performance of our existing, highly-regarded
formulations, but also to achieve new heights within the entire
cosmetics industry."
The
Letter of Intent between Cannaworx, Inc.
and
SSL, and the Letter of Intent between PBI and Cannaworx, Inc. are
subject to certain closing conditions, including completion of all
due diligence and acquisition financing.
About Pressure BioSciences, Inc.
Pressure
BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and
sale of innovative, broadly enabling, pressure-based solutions for
the worldwide life sciences and other industries. Our products are
based on the unique properties of both constant (i.e., static) and
alternating (i.e., pressure cycling technology, or PCT) hydrostatic
pressure. PCT is a patented enabling technology platform that uses
alternating cycles of hydrostatic pressure between ambient and
ultra-high levels to safely and reproducibly control bio-molecular
interactions (e.g., cell lysis, biomolecule extraction). Our
primary focus is in the development of PCT-based products for
biomarker and target discovery, drug design and development,
biotherapeutics characterization and quality control, soil &
plant biology, forensics, and counter-bioterror applications.
Additionally, major new market opportunities have emerged in the
use of our pressure-based technologies in the following areas: (1)
the use of our recently acquired, patented technology from
BaroFold, Inc. (the "BaroFold" technology) to allow entry into the
bio-pharma contract services sector, and (2) the use of our
recently-patented, scalable, high-efficiency, pressure-based Ultra
Shear Technology ("UST") platform to (i) create stable
nanoemulsions of otherwise immiscible fluids (e.g., oils and water)
and to (ii) prepare higher quality, homogenized, extended
shelf-life or room temperature stable low-acid liquid foods that
cannot be effectively preserved using existing non-thermal
technologies.
Forward Looking Statements
This
press release contains forward-looking statements. These statements
relate to future events or our future financial performance and
involve known and unknown risks, uncertainties and other factors
that may cause our or our industry's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed, implied or inferred by these
forward-looking statements. In some cases, you can identify
forward-looking statements by terminology such as "may," "will,"
"should," "could," "would," "expects," "plans," "intends,"
"anticipates," "believes," estimates," "predicts," "projects,"
"potential" or "continue" or the negative of such terms and other
comparable terminology. These statements are only predictions based
on our current expectations and projections about future events.
You should not place undue reliance on these statements. In
evaluating these statements, you should specifically consider
various factors. Actual events or results may differ materially.
These and other factors may cause our actual results to differ
materially from any forward-looking statement. These risks,
uncertainties, and other factors include, but are not limited to,
the risks and uncertainties discussed under the heading "Risk
Factors" in the Company's Annual Report on Form 10-K for the year
ended December 31, 2019, and other reports filed by the Company
from time to time with the SEC. The Company undertakes no
obligation to update any of the information included in this
release, except as otherwise required by law.
For more information about PBI and this press release, please click
on the following website link:
http://www.pressurebiosciences.com
Please visit us on Facebook, LinkedIn, and Twitter.
Press Contacts:
Richard
T.
Schumacher,
President
&
CEO
(508)
230-1828
(T)
Jeffrey N. Peterson, Chairman (650)
703-8557
(T)