$3,500,000 Initial Order for FDA-Registered,
Premium Hand Sanitizer Catapults SkinScience Labs, a Pending
Accretive Acquisition of Pressure BioSciences, Into the
Multi-Billion Dollar Hand Sanitizer Market
SkinScience Labs, Creator of Award-Winning Dr. Denese Skin Care
& Anti-Aging Product Lines, Enters Hand Sanitizer Market with
Proprietary Formula Developed by Founder Adrienne Denese, MD.,
Ph.D.
SOUTH EASTON, MA -- June 11, 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 that its merger partner SkinScience Labs, Inc. has
received an initial $3.5 million dollar order for its
newly developed, premium, dermatological hand sanitizer
product. PBI announced plans on April 30, 2020 to
acquire SkinScience Labs (SSL Acquisition), parent
company of the award-winning Dr. Denese skin care and anti-aging
product lines. PBI's rights to acquire SkinScience Labs, Inc. arise
through its planned acquisition of Cannaworx, Inc., announced
on April 28, 2020 (Cannaworx, Inc.
Acquisition).
Adrienne Denese, M.D., Ph.D. (Cornell, Harvard) is an
industry leader in scientific skin care breakthrough
technologies. As founder of the award-winning Dr. Denese
SkinScience® product lines, it has been Dr. Denese's mission in
life to help women look and feel younger, and live healthier lives.
Her skin care and anti-aging product lines have consistently been
top sellers on QVC, generating sales of about $18
million in 2019 and over $500 million since 2003
(https://drdenese.com).
Dr. Denese commented: "Our goal has always been to develop and
supply the highest quality of personal care products expected by
our very loyal customer base. Over the past few months, shortages
of hand sanitizers have been reported by stores all over the US.
With SkinScience Labs' nearly two decades of experience in
formulation, manufacturing, and distribution, and my expertise and
training as a scientist and physician, it became clear that we
could become an important new part of the solution. With particular
focus on the adverse effects that the high alcohol content in
typical hand sanitizers have on skin, we went back to the lab and
formulated a premium quality, dermatologically driven hand
sanitizer. We recently made the decision to release this very
effective, premium product to the market (Hand Sanitizer Launch)."
According to a 2019 report by Radiant Insights, the global hand
sanitizer market was estimated to be $2.4 billion in 2017
and is anticipated to reach $5.5 billion by 2024
(Radiant Insights
Report).
The merger of SkinScience Labs, Cannaworx, Inc., and Pressure
BioSciences is expected to close by June 30, 2020. At that
time, the company will change its name to Availa Bio. PBI,
Cannaworx, and SkinScience Labs will operate as three separate,
highly synergistic divisions under the Availa Bio umbrella. The new
parent company will be publicly traded as a QB company on the OTC
Marketplace. Availa Bio will be led by Jim
Morrison (Availa CEO), former
President of L'Oreal, StarShop, and Graham Webb. Mr.
Morrison is also renowned for his long history in working with
celebrities to launch beauty and personal care lines,
including Kylie Jenner, Britney Spears, Christie
Brinkley, and Rob Lowe. Mr. Morrison is widely regarded as one
of the top brand strategists in the personal care space
worldwide.
Mr. Morrison said: "Dr. Adrienne Denese is an
accomplished doctor, scientist, businesswoman, and skin care
visionary. It therefore came as no surprise that she chose to
expand her very popular cosmetics line with the addition of a
premium quality hand sanitizer based on her own proprietary
formulation. With the high quality and care that Adrienne famously
builds into all of her products, combined with her enormously loyal
customer base, we believe this very well-timed $3.5 million
dollar hand sanitizer order, which we understand is an
approximate four month supply for our customer, is just the
beginning of a new and very exciting era for Dr. Denese
SkinScience."
Mr. Morrison continued: "I have been fortunate during my 30+
years in the personal care space to have gained significant
experience launching products and driving sales through a myriad of
retail channels worldwide. Since the May 14 announcement
that we were entering the multi-billion-dollar hand sanitizer
market, I have taken the opportunity to discuss our new, premium
grade hand sanitizer product with several large U.S. retail
outlets. The reception we received was extremely positive. We are
expecting substantial on-going growth in this exciting and
innovative new product line."
The Letter of Intent between Cannaworx and SkinScience Labs, 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
control bio-molecular interactions safely and reproducibly (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.
Investor Contacts:
Richard T. Schumacher, President and CEO
(508) 230-1828 (T)
Kenneth F. Micciche, Director – UST Program
(508) 230-1829 (F)
SOURCE Pressure BioSciences, Inc.
Pressure Biosciences (QB) (USOTC:PBIO)
Historical Stock Chart
From Feb 2024 to Mar 2024
Pressure Biosciences (QB) (USOTC:PBIO)
Historical Stock Chart
From Mar 2023 to Mar 2024