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Pressure BioSciences shares jump on sales of first two HUB 880 Explorer research instruments

Pressure Bio’s first customer to buy a HUB880 Explorer machine is a leading research institute in Japan, which is conducting research and development on agriculture and food

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Pressure BioSciences is a leader in developing high-pressure-based platforms for the life sciences market

Pressure BioSciences Inc (OTCQB:PBIO) announced Thursday that it has sold the first two research instruments from its newest line of high-pressure based systems, the HUB880 Explorer.

With its ability to reach higher pressure levels and accept larger sample sizes, the HUB880 Explorer allows scientists to study the mechanisms by which pressure inactivates food pathogens and organisms that cause food to spoil, which should improve the processing of food.

Shares climbed 14% in midday trading to US$4.00.

Read: Pressure BioSciences receives a US patent for a new high-pressure flow-through microfluidic sample preparation device

“Because of this, we believe the HUB880 Explorer has the potential to add significantly to our revenue base in the foreseeable future,” said Dr Nate Lawrence, Pressure Bio’s vice-president of marketing and sales.

Pressure Bio’s first customer to buy a HUB880 Explorer machine is a leading research institute in Japan which is conducting research and development on agriculture and food. The institute intends to use the HUB 880 Explorer to study the impact of high pressure on food processing as well as on food-borne pathogens.

Its second machine, meanwhile, was purchased by the Public Health Microbiology (PHM) Laboratory at Tennessee State University, which will use the technology to conduct research to better understand environmental and enteric pathogens as well as spoilage organisms.

One out of six Americans experiences illnesses from these pathogens every year, according to the PHM laboratory, leading to about 128,000 hospitalizations in the US.

Read: Pressure BioSciences posts record 2Q product and services revenue, lowers operating expenses

Dr Aliyar Fouladkhah, an assistant professor at Tennessee State and the director of the PHM laboratory, reports that his team has used PBI’s pressure-based instruments for several years to produce research on foodborne pathogens and food quality for publication.

Commencing commercial operations in 2007, Pressure BioSciences, which is based in South Easton, Massachusetts, is a leader in developing high-pressure-based technologies, platforms and services for the life sciences market worldwide.

The company recently reported second-quarter results that marked a tenth consecutive quarterly jump in products and services revenue, thanks to booming sales of lab instruments which utilize pressure to control bio-molecular interactions. For the quarter ended June 2018, the company reported an 18% jump in total revenue to US$638,800 compared to US$540,400 for the same period in 2017.

Quick facts: Pressure BioSciences, Inc.

Price: 1.51 USD

OTCMKTS:PBIO
Market: OTCQB
Market Cap: $5.4 m
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on 10/04/2019

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