Pressure BioScience (OTCQB: PBIO), a leader in the
development and sale of broadly enabling, pressure-based instruments,
consumables and platform-technology solutions to the worldwide life sciences
and other industries, today announced that it has signed a binding letter of
intent (“LOI”) to merge with Cannaworx, Inc. (USA) and its diverse portfolio of
products and intellectual property. The merger will combine Cannaworx’s
proprietary portfolio of consumer products with the application of PBIO’s
breakthrough ultra shear technology (“UST”). Following the merge, the company
will utilize its extensive intellectual property portfolio, consisting of a
proprietary pressure platform, nanotechnology and advanced delivery systems, to
disrupt markets including the booming U.S. hemp-derived CBD market. “We have
been actively searching for an opportunity to participate in the end-product
growth and upside we believe our UST platform creates and delivers. We are very
excited to bring our companies together for what we believe to be a momentous
inflection point in significant new growth and increased shareholder value,”
PBIO president and CEO Richard T. Schumacher stated in the news release.
To view the full press release, visit http://ibn.fm/XX3GT
About Pressure BioSciences Inc.
Pressure BioSciences 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 and 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, patented technology from BaroFold
Inc. (the “BaroFold” technology) to allow entry into the biopharma contract
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 (ii) prepare higher-quality, homogenized, extended shelf-life or
room-temperature, stable, low-acid liquid foods that cannot be effectively
preserved using existing nonthermal 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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