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.”
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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.
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