Pressure BioSciences Proposed Acquisition Partner Cannaworx, Inc. Announces December 2020 Launch Date for FDA Registered Immune Booster
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SOUTH EASTON, Mass., Dec. 4, 2020 /PRNewswire/ -- Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, cosmeceuticals, nutraceuticals, and food & beverage industries, today announced that its proposed acquisition partner Cannaworx, Inc. has set December 2020 as the commercial launch date for its patented immune booster supplement: ImmunaZin™. Cannaworx believes that post-launch, this product will be one of very few OTC (over the counter), FDA registered, hemp seed oil-enhanced supplements with an immune booster claim. The immune system's role is to keep us healthy by defending against invaders (e.g., bacteria and viruses). It is therefore important to keep our immune systems as strong and effective as possible. Healthy living is the main strategy recommended to achieve this goal. Another strategy is to augment healthy living with powerful, high quality immune boosters, which have recently become very popular, e.g., the global immune booster market is estimated to exceed $25B by 2025 and the market has been spurred further by the on-going COVID-19 pandemic. Dr. Bobby Ghalili, co-founder of Cannaworx, said: "The active ingredient in ImmunaZin is a patented, proprietary blend of 44 amino acid fragments derived from the enzyme pepsin. ImmunaZin works by increasing the number of T helper cells in the human body. T helper cells enable cells called macrophages to kill and consume bacteria, viruses, and other invaders. This makes ImmunoZin strikingly different from most other immune boosters on the market today, as it is a novel and potent T cell stimulator, enabling the immune system to aggressively defend against invasions of disease-causing pathogens." Dr. Ghalili continued: "To further enhance ImmunaZin's immune boosting effect, we added hemp seed oil (no THC) to our patented formulation. Hemp seed oil is rich in essential fatty acids (e.g., omega-6 and omega-3) and antioxidants that may help fight inflammation, cancer, diabetes, and heart disease. Omega-3 is also thought to have a positive impact on the bowel microbiome as a prebiotic, providing further support to the immune system. The manufacturing process of the patented 44 amino acid fragment formulation is highly proprietary, protected, and would be nearly impossible to imitate." Mr. Jim Morrison, President of Cannaworx, commented: "We have been preparing for the upcoming December 2020 commercial release of ImmunaZin for many months. We have built an inventory of nearly 20,000 market-ready packages of product and have the materials on hand to prepare and deliver many thousands more. We have developed a strong digital marketing campaign and have readied our internal Five Leaf Labs sales and distribution network (announced on May 19, 2020), We expect to significantly add to our internal capabilities by quickly bringing on one or more "wholesale to retail" and "multi-level-marketing" U.S. and international marketing, sales, and distribution partners. We anticipate that our efforts will result in measurable revenue before the end of 2020, and substantial growth in 2021." For additional information on ImmunaZin, please go to www.immunazin.com. Mr. Richard T. Schumacher, President and CEO of Pressure BioSciences, added: "Our team is excited to be joining a company bringing such an important and valuable product to market, particularly considering its potential role in the fight against the novel coronavirus and other disease-causing pathogens. We also look forward to bringing our proprietary Ultra-Shear Technology™ (UST™) platform for the processing of high quality nanoemulsions with vanishingly low and controlled droplet sizes, to bear on the emerging compendium of Cannaworx personal care products rolling out in late 2020 and throughout all of 2021." The Letter of Intent between Pressure BioSciences, Inc. and Cannaworx, Inc. is subject to certain closing conditions, including completion of all due diligence and acquisition financing. About Cannaworx, Inc. Cannaworx, a privately held development-stage company, has developed an extensive portfolio of consumer products, which include FDA-registered, patented/patent-pending diverse product lines. These products capitalize on disruptive delivery systems in the areas of pain relief, pharmaceuticals, skincare, nutraceuticals, and agriculture/veterinary products. About Pressure BioSciences, Inc. Pressure BioSciences, Inc. (OTCQB: PBIO) is a leader in the development and sale of innovative, broadly enabling, pressure-based solutions for the worldwide life sciences and other industries. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating 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 is in the development of PCT-based products for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterror applications. Additionally, major new market opportunities have emerged in the use of our pressure-based technologies in the following areas: (1) the use of our recently acquired, patented technology from BaroFold, Inc. (the "BaroFold" technology) to allow entry into the bio-pharma contract services sector, and (2) the use of our recently-patented, scalable, high-efficiency, pressure-based Ultra Shear Technology ("UST") platform to (i) create stable 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 cannot be effectively preserved using existing non-thermal technologies. Forward Looking Statements This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expects," "plans," "intends," "anticipates," "believes," estimates," "predicts," "projects," "potential" or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. These and other factors may cause our actual results to differ materially from any forward-looking statement. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, and other reports filed by the Company from time to time with the SEC. The Company undertakes no obligation to update any of the information included in this release, except as otherwise required by law. For more information about PBI and this press release, please click on the following website link: Please visit us on Facebook, LinkedIn, and Twitter. Press Contacts: Jim Morrison
SOURCE Pressure BioSciences, Inc. |
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Company Codes: OTC-PINK:PBIO, OTC-QB:PBIO, OTC-QX:PBIO, OtherOTC:PBIO |
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