Pressure BioSciences (OTCQB: PBIO), a leader in the
development and sale of broadly enabling, pressure-based technology and
products to the worldwide life sciences and other industries, today announced
that Daniel J. Shea has joined the company as its senior vice president and
chief financial officer effective Friday, September 13, 2019. In the key
leadership position, Shea’s responsibilities will include directing and
overseeing all aspects of the company’s finance and administration functions,
including financial reporting and analysis; compliance with GAAP and applicable
financial and tax reporting laws and rules; forecasting and budgeting; serving
as primary liaison with the company’s independent accounting firm; and
leadership in the development of short and long-term financial objectives. “We
are pleased to have someone with Dan’s experience and capabilities join PBI at
such an important time in our corporate evolution,” Pressure BioSciences
President and CEO Richard T. Schumacher said in the news release. “We believe
all three of our patented technology business platforms have the potential for
rapid growth over the next 12-18 months. To that end, we have given guidance
that we believe total revenue in 2020 will be more than double total revenue of
2019. Such rapid growth will require reliable and supportive financial systems
to be securely in place to facilitate smooth and timely financial reporting. It
will also require a close and continued relationship with the capital markets.
We are fortunate to have a seasoned financial professional like Dan join us at
this most important time, to lead this financial transformation.”
To view the full press release, visit http://ibn.fm/A27oq
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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