Pressure BioSciences Inc (OTCMKTS:PBIO), a life-science group that makes instruments which utilize pressure to control bio-molecular interactions, has signed a deal with an unnamed international biopharmaceutical company, which will assess the potential of its PreEMT platform.
The hope is that the PreEMT platform – which uses high pressure to help drug companies develop protein-based therapeutics - can be used to manufacture and improve the quality of a key protein-based drug, which is currently under development at the undisclosed biopharmaceutical group.
The manufacture of therapeutic proteins is difficult and complex and producing a typical protein drug may include more than 5,000 steps. As a result, even in the best laboratories, it is typical for protein therapeutics to fail in manufacturing.
“We believe this unique technology platform can help protein-based biopharmaceutical companies create and manufacture high quality novel protein therapeutics and lower the cost of existing formulations," said Dr. Alexander Lazarev, vice president of research & development. “PreEMT can be applied to many therapeutic proteins. … It is scaleable and practical for standard manufacturing processes.”
Richard Schumacher, Pressure BioScience’s president and chief executive, said the contract with the international biopharma group will be wrapped up in three to four months. He noted that several other biopharmaceutical companies are interested in evaluating the group’s PreEMT platform and said that if deals are done, Pressure BioScience will receive royalty revenues.
“Should the PreEMT technology result in more efficient production of high quality protein-based therapeutics for any biopharmaceutical company developing new protein-based therapeutics, manufacturing-scale licenses have the potential to generate millions of dollars in annual royalty revenue,” Schumacher said.
There are over 200 therapeutic proteins and peptides now approved for clinical use in the U.S. These drugs have changed therapy options for cancer and blood disorders and are also a treatment option for autoimmune diseases.
Pressure BioScience’s shares were flat at US$3.75 in early afternoon trade.