Pressure BioSciences | GenomeWeb

Pressure BioSciences

The revenue increase was driven by strong growth in instrument and consumable sales, which more than offset declining grant revenue.

The company said instrument sales rose 41 percent during the quarter, while sales of consumables rose 11 percent.

The researchers found that adding PBI's MicroPestle tool to a conventional pressure cycling workflow yielded between 20 and 40 percent more peptides.

The sample prep firm landed an NIH SBIR Phase II grant to help boost total revenues but saw its net loss widen to $7.4 million and operating expenses increase.

Funded by $10 million in seed money by the Australian Cancer Research Foundation, the center has purchased six Sciex TripleTOF 6600 mass spectrometers.

Under the agreement, PBI will promote its pressure cycling technology sample preparation systems with Sciex's mass spec instruments and Swath proteomics workflow.

The company used the proceeds, which bring the total amount raised in the offering to nearly $4.8 million, to pay off all its variable rate convertible debt.

Pressure Bio's revenues jumped on increased sales from products and services.

The partners will leverage Pressure Bio's PCT platform to develop a method that would provide results more quickly than current test methods.

The company will use the proceeds for, among other things, expanding its sales and marketing capabilities and retiring convertible debt.


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