Pressure BioSciences Inc (OTCMKTS:PBIO) has landed its second major contract with a multi-billion dollar pharmaceutical company to manufacture a candidate protein drug.
The deal utilizes Pressure’s BaroFold platform, which is designed to navigate the potentially 5,000-step process of manufacturing proteins while avoiding the pitfalls of mistakenly forming aggregate proteins and accidental protein misfolding.
The company launched its BaroFold Biopharma Services Business in January 2019 after acquiring the assets of BaroFold Inc in late 2017. Pressure integrated the Barofold patent portfolio with its own technology to create the service.
“Our proprietary BaroFold Biopharma Services Business offers us a unique opportunity to enter the estimated $44 billion (by 2026) global bioprocess technology market,” CEO Richard Schumacher said. “In addition to successfully performing contract services for two biopharmaceutical companies since the beginning of 2019, we are also in discussions with three additional biopharmaceutical companies interested in utilizing our proprietary BaroFold services for their protein drug candidates.”
In addition to its BaroFold services, Pressure BioSciences has developed pressure cycling technology, which is used in drug design, and ultra sheer technology, which extends the shelf life of milk and juice by reducing heat exposure in the preservation process.
The South Easton, Massachusetts-based company company’s stock declined 1.6% to $3.05 on Wednesday.
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