Transformative Impact for Food Industry Consortium Formed by Pressure BioSciences and The Ohio State University Discussed in Showcase Video from Emerging Technology Insider
SOUTH EASTON, Mass., March 4, 2021 /PRNewswire/ -- 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, nutraceuticals, cosmetics, agriculture, and food & beverage industries, today announced the release of important insights from its President, CEO, and Founder Ric Schumacher when interviewed by Jeffrey Friedland of Emerging Technology Insider, an international, highly-respected video media company. Mr. Schumacher discussed the potential transformational impact upon the food industry from its food industry consortium partnership with The Ohio State University ("Ohio State").
The interview focused on industry benefits from the recently announced agreement between PBI and the College of Food, Agricultural, and Environmental Sciences ("CFAES") of Ohio State. Under this agreement, PBI will install several models of its patented Ultra Shear Technology™ ("UST™") platform for the high shear processing of liquid foods and beverages under optimally controlled temperature and pressure conditions in the acclaimed Ohio State food pilot plant. The interview shared Mr. Schumacher's insights on the formation with Ohio State of a food industry consortium (the "Consortium"), whose members will have first look access to the UST test systems and food applications development in the pilot plant, as well as licensing opportunities to utilize new applications of PBI's UST platform and other Consortium-developed IP.
The primary goals and benefits for food companies joining the Consortium, highlighted by Mr. Schumacher in the interview and included in the showcase video, include:
- The Consortium will be comprised of many global, well-known, leading food and beverage companies.
- Ohio State's CFAES is an internationally recognized academic leader in the Food Sciences.
- UST is PBI's proprietary method for homogenizing immiscible liquids (e.g., oil in water), potentially resulting in products with greater safety, improved absorption, better taste/smell/texture, longer room temperature shelf-life, and more "clean label" (reduced or no unwanted chemical additives) foods.
- Consortium members will pay an annual fee, shared between Ohio State and PBI.
- Members help direct use of fees into UST applications development on their prioritized food industry objectives.
- Primary purpose of Consortium is to advance commercialization of PBI's UST platform through the quality enhancement of beverages and liquid foods including many dairy products, condiments, and sauces.
- Consortium will also work on methods to reduce costs of processing, shipping, distribution, storage, and spoilage through extended room temperature stability, without compromising quality or sensory experience of the products.
- Consortium members will be rewarded with first look access to all new UST application developments, as well as first rights to non-exclusively license new UST and other Consortium-developed applications.
- PBI has the right to license the new UST application developments to non-consortium members worldwide.
- High Pressure Processing (HPP), used in the food industry today to make certain foods safer, more stable, and "Clean Label" was, in 2019, a $15.5 billion dollar market.
- HPP has certain limitations and drawbacks. Ohio State and PBI believe that UST can be used to achieve major improvements over important HPP limitations – especially in long-term, room temperature stability.
- PBI and Ohio State will benefit from UST and other IP royalty streams from food industry clients.
- PBI will also benefit from UST equipment leases and consumables sales to food industry clients.
The Consortium is the result of research initially sponsored by the USDA NIFA, for which Ohio State and PBI gratefully acknowledge their support.
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 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
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Press Contacts:
Richard T. Schumacher, President & CEO
(508) 230-1828 (T)
Jeffrey N. Peterson, Chairman
(650) 703-8557 (T)
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