Pressure BioSciences (OTCQB: PBIO) (“PBI”), a leader
in the development and sale of high pressure-based instruments, consumables,
and related services for the global life sciences and other industries
worldwide, today announced its CEO succession plan in light of its founder
Richard T. Schumacher’s notification that he will step down as president and
CEO effective September 9, 2019. Schumacher has been working with the company’s
directors on leadership succession planning for many months, including the
selection of its SVP & Chief Commercial Officer Bradford A. Young, PhD, MBA
in November 2018. To facilitate an orderly transition in leadership, the PBIO
board has identified Dr. Young as its designee to succeed Schumacher and will
be working closely with Dr. Young to effectuate this transition. “PBI was
founded on the vision that pressure – especially ultra-high pressure – could be
safely used in the life sciences area to significantly accelerate the discovery
and development of new drugs, vaccines, and diagnostics, which in turn could
lead to better, higher quality, less expensive, and more widely available
healthcare” PBIO founder Richard T. Schumacher said in the news release. “My 15
years as CEO has overseen an exciting, successful, and sometimes challenging
journey, as is often the case when driving market acceptance of
paradigm-shifting technology platforms. I believe we are very close to
achieving success around the original vision for PBI, and I am extremely
excited over the prospects for our new BaroFold and Ultra Shear Technology
businesses. Nonetheless, as I will be seventy years old in August 2020, I have
worked closely with the Board to prepare for a strong and orderly transition in
leadership as we enter this new growth phase. I am convinced that PBI is now
poised for success thanks to the depth and dedication of our senior management
and support teams. The addition of Dr. Young to our team has brought highly
relevant scientific experience, knowledge, and vision, combined with his
business acumen and leadership qualities that I believe will be pivotal in
propelling the Company forward for decades to come.”
To view the full press release, visit http://ibn.fm/YbDfU
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 industry. The company’s 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).
PBIO’s 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 its pressure-based technologies in the following
areas: (1) the use of its recently acquired PreEMT technology from BaroFold,
Inc. to allow entry into the biologics contract research services sector, and
(2) the use of its 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. For more information, visit the company’s website at www.PressureBiosciences.com.
NOTE TO INVESTORS: The latest news and updates
relating to PBIO are available in the company’s newsroom at http://ibn.fm/PBIO
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