Pressure BioSciences, Inc. Awarded National Institutes of Health (NIH) SBIR Phase I Grant for the Development of an Automated, Pressure-Enhanced System for the Routine Processing of Cancer and Other Tissue Samples

SOUTH EASTON, Mass., Sept. 6, 2011 (GLOBE NEWSWIRE) -- Pressure BioSciences, Inc. (Nasdaq:PBIO) ("PBI" and the "Company") today announced that it has been awarded a $160,978 SBIR Phase I grant (1R43GM090582-01A1) from the National Institute of General Medical Sciences ("NIGMS") of the National Institutes of Health ("NIH"). Entitled "Methods and Instrumentation for Hydrostatic Pressure-Enhanced Tissue Fixation", the grant will help fund the development of a high pressure system for the automated processing and preservation of tissue samples to facilitate, standardize, and improve the tissue fixation process independent of sample size and tissue type. If the Phase I development efforts are successful, the Company expects to submit a request for SBIR Phase II funding; such funding is usually for approximately $1 million and is billed over a two year period.

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