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Pressure BioSciences Unveils Collaboration With India's IOB; Shares Rise

|Includes: Pressure BioSciences, Inc. (PBIO)

Shares in Pressure BioSciences (NASDAQ:PBIO) rose sharply after the medtech firm entered into a two-year collaboration with India's prestigious Institute of Bioinformatics (IOB).

Shares had advanced 13% to US$0.260 at 10:26 a.m. in New York.

The IOB will incorporate Pressure BioSciences' patented PCT (pressure cycling technology) platform in its search for molecular biomarkers in a number of human diseases and disorders, including cancer and stroke, the South Easton, Massachusetts-based company said in a statement on Wednesday.

"We will use the PCT platform as the front-end, sample preparation method to many universally-used analytical instruments, such as mass spectrometers and third generation DNA sequencers," Dr Harsha Gowda, head of the proteomics program at the IOB, was quoted in the statement as saying.

"The PCT platform may prove to be advantageous as a sample preparation method to researchers worldwide, and perhaps also necessary for many other applications as well," Dr Gowda opined.

The IOB, a not-for-profit scientific research center, is one of the more highly regarded proteomic research organizations worldwide.

The IOB's staff members have published several hundred scientific papers over the past decade, many with a focus in the areas of proteomics, genomics, and metabolomics.

"The results generated at the IOB will help show the clear advantages offered by the PCT platform when this powerful, patented technology is used in the search for biomarkers," Pressure BioSciences chief executive officer Richard Schumacher declared.

"Such data, coming from a research institute with the worldwide reputation of the IOB, could have the profound effect of helping to change the PCT platform from a 'want to have' to a 'have to have' sample preparation system for biological research laboratories, in India and around the world," he added.

As many as 500,000 researchers around the world are working with biological samples, many of whom use the same kinds of instruments (e.g., mass spectrometers, DNA sequencers, HPLCs, etc.) as those used by scientists at the IOB. These researchers are potential future users of the PCT platform, Schumacher noted.

The founder and director of the IOB, Dr Akhilesh Pandey is a professor at the Institute of Genetic Medicine and the Departments of Biological Chemistry, Oncology, and Pathology at the Johns Hopkins School of Medicine. He has received numerous honors and awards during his career, including, most recently, the Era of Hope Scholar Award by the United States Department of Defense.

"We are always searching for better, higher quality sample preparation methods that can help us process a diverse set of samples ranging from tissue biopsies to bacterial extracts," Dr Pandey said.