NEW YORK (GenomeWeb News) – Pressure BioSciences has closed the sale of $1.16 million of units in the first tranche of its $2.5 million private placement.

Each unit was priced at $18.80 and 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 $23.80 per share, expiring on Aug. 11, 2011.

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