Skip to main content
Premium Trial:

Request an Annual Quote

Pressure BioSciences Raises $500K

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Pressure BioSciences has raised $500,000 in the second tranche of its $2.5 million Series B private placement.

The South Easton, Mass.-based firm sold units at $18.80 each. The units consisted of one share of non-voting Series B Convertible Preferred Stock, and one warrant to purchase a share of Series B Convertible Preferred Stock at an exercise price of $28.80 per share, expiring on Aug. 11, 2011.

Each share of non-voting Series B Convertible Preferred Stock is convertible into 10 shares of Pressure Bio common stock.

In November, Pressure Bio raised $1.1 million through the first tranche of the private placement.

"The funds from this financing will continue to support our on-going efforts to drive the installed base of our Pressure Cycling Technology products, to finish the development of PCT-dependent consumables and instrumentation for several specific markets where we believe that we have clear advantages over the competition, and to support our growing list of customers in their efforts to publish and present strong, supportive data on PCT," Pressure BioSciences Chairman R. Wayne Fritzsche said in a statement.

In Wednesday afternoon trade on the Nasdaq, shares of Pressure BioSciences were unchanged at $1.81.

The Scan

Study Finds Sorghum Genetic Loci Influencing Composition, Function of Human Gut Microbes

Focusing on microbes found in the human gut microbiome, researchers in Nature Communications identified 10 sorghum loci that appear to influence the microbial taxa or microbial metabolite features.

Treatment Costs May Not Coincide With R&D Investment, Study Suggests

Researchers in JAMA Network Open did not find an association between ultimate treatment costs and investments in a drug when they analyzed available data on 60 approved drugs.

Sleep-Related Variants Show Low Penetrance in Large Population Analysis

A limited number of variants had documented sleep effects in an investigation in PLOS Genetics of 10 genes with reported sleep ties in nearly 192,000 participants in four population studies.

Researchers Develop Polygenic Risk Scores for Dozens of Disease-Related Exposures

With genetic data from two large population cohorts and summary statistics from prior genome-wide association studies, researchers came up with 27 exposure polygenic risk scores in the American Journal of Human Genetics.