Pressure BioSciences Announces Planned Name Change to “Availa Bio” Following Conclusion of Cannaworx and SkinScience Labs Deals
Dr. Bobby Ghalili, President of Cannaworx, Inc., broadened: “My co-founder in Cannaworx is Dr. Adrienne Denese, MD, Ph.D., the creator, innovator and spokesperson behind over $500 M in Dr. Denese SkinScience product line sales for the past 17 years on QVC. In our rapidly expanding line of ingenious human, veterinary and farming items, numerous of which integrate phytocannabinoids from hemp oil, we are utilizing our own oral and topical proprietary bioavailability and absorption shipment technology. Our prepared rollout of Cannaworx products over the coming months consists of two trademarked oral phytocannabinoid solutions that incorporate indications for discomfort relief allowed under an FDA OTC monograph.
With an IP Estate of 31 provided and an additional lots or more pending patents, an existing around the world base of numerous corporate and countless retail clients, multiple items already on the market with many more expected to be launched in the weeks and months ahead, Availa Bio plans to interfere with large, addressable markets, as it marches toward profitability and increased shareholder worth. The markets expected to be served include: the U.S. hemp-derived CBD market (anticipated to reach $237 billion by 2023), the global cosmetics market (projected at $758 billion by 2025), the worldwide biopharmaceuticals market (anticipated to reach $389 billion by 2024), the worldwide food & farming technology and items market (estimated at $729 billion by 2023), and the worldwide food and beverage market.
Dr. Denese, President of SkinScience Labs, added her interest for the combination of the three companies: “My years of development and marketing of skin care and anti-aging items that satisfy the examination and demands of an incredibly faithful following of consumers has constantly needed us to be leaders in quality and performance, not just for outcomes but in the whole item experience perceived by our users. We rapidly understood that the Ultra Sheer Innovation platform provided the chance to improve not just the efficiency of our existing, highly-regarded solutions, but likewise to attain new heights within the entire cosmetics market.”
The Letter of Intent between Cannaworx, Inc. and SSL, and the Letter of Intent between PBI and Cannaworx, Inc. are subject to particular closing conditions, consisting of completion of all due diligence and acquisition financing.
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of ingenious, broadly allowing, pressure-based solutions for the worldwide life sciences and other industries. Our items are based on the distinct homes of both continuous (i.e., fixed) and alternating (i.e., pressure biking technology, or PCT) hydrostatic pressure. PCT is a patented allowing innovation platform that uses rotating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions (e.g., cell lysis, biomolecule extraction). Our primary focus remains in the advancement of PCT-based products for biomarker and target discovery, drug style and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Furthermore, significant brand-new market chances have emerged in making use of our pressure-based innovations in the following locations: (1) using our just recently acquired, patented innovation from BaroFold, Inc. (the “BaroFold” technology) to enable entry into the bio-pharma agreement services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology (” UST”) platform to (i) produce steady 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 can not be successfully protected using existing non-thermal innovations.
Forward Looking Declarations
This press release includes forward-looking declarations. These risks, uncertainties, and other factors consist of, but are not limited to, the risks and uncertainties gone over under the heading “Threat Elements” in the Business’s Annual Report on Type 10- K for the year ended December 31, 2019, and other reports submitted by the Company from time to time with the SEC.
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Richard T. Schumacher, President & CEO (508) 230-1828(T)
Jeffrey N. Peterson, Chairman (650) 703-8557(T)
SOURCE Pressure BioSciences, Inc.