REDONDO BEACH, CA--(Marketwired - Oct 27, 2016) - SECFilings.com, a leading financial news and information portal offering free real time public company filing alerts, announces the publication of an article discussing the crucial role Pressure BioSciences Inc. (OTCQB: PBIO) plays in the multi-national Cancer Moonshot program.
President Obama introduced the Cancer Moonshot during his State of the Union address on January 12, 2016 in an effort to accelerate cancer research. The initiative -- led by Vice President Joe Biden -- seeks to make more therapies available to more patients while improving the ability to detect, treat, and prevent cancer. As a part of the initiative, the government will commit $1 billion to jumpstart the work, including approximately $755 million in additional NIH funding over the next year.
As a part of these efforts, the Cancer Moonshot initiative aims to encourage the analysis of tumors and surrounding cells in order to better understand the genetic and other changes that occur. According to the White House's fact sheet on the project: "Genomic Analysis of Tumor and Surrounding Cells: A greater understanding of the genetic changes that occur within the cancer cell, and in surrounding and immune cells responding to the cancer, will advance both immunotherapy and targeted drug therapy and help lead to an increased ability to enhance patient response to therapy."
The Children's Medical Research Institute ("CMRI") recently opened The Australian Cancer Research Foundation International Centre for Proteome of Cancer ("ProCan") facility to advance large-scale proteomic profiling studies in cancer. ProCan is an official collaborator in the Cancer Moonshot program, and the facility's efforts to map cancer genomes and proteomes are essential to the program's goal of accelerating cancer research.
Pressure BioSciences develops and sells proprietary lab instruments to the $6 billion life sciences sample preparation market. Sample preparation is a term that refers to a wide range of activities that precede most forms of scientific analysis. Sample preparation is often complex, time-consuming, and one of the most error-prone (but crucial) steps of scientific research. It is a widely used laboratory undertaking, the requirements of which drive a large and growing market. PBI's PCT-based systems can be used to exquisitely control the sample preparation process.
The company introduced the Barocycler 2320EXT instrument in June, and ProCan bought the first three units. The new Barocycler provides the best available sample extraction technology on the market, and the machine's ability to provide reproducibility, speed, and automation will allow ProCan to more quickly and reliably process tumor samples than previously possible. ProCan plans to analyze about 70,000 cancer samples over the next seven years.
As Dr. Nate Lawrence, Pressure Bio's VP of Sales and Marketing, said, "Nearly $1 Billion in new funding is planned for cancer research in the current US fiscal year, a portion of which could support the expansion of additional "industrialized proteomics" labs worldwide, similar to ProCan. With the recognition that ProCan and other cancer research programs are already giving to our recently released, next-generation 2320EXT Barocycler system, combined with our planned salesforce expansion and our SCIEX co-marketing program, we believe we will see robustly increasing sales of our PCT product line in 2017 and beyond."
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