16 July 2012 | News | By BioSpectrum Bureau
Pressure BioSciences signs agreements to expand in Asia
Singapore: Pressure BioSciences has entered into distribution agreements with three companies having combined sales coverage in six new countries. Over the past seven months, the company has made its foray into a number of countries with its patented, powerful, and enabling pressure cycling technology (PCT) sample preparation instrument and consumable products.
For China, the company has entered into an exclusive distribution agreement with the Yinzhou Police Equipment & Technology in Guangzhou for its PCT product line and a non-exclusive agreement for its patent-pending, mechanical homogenization device, the Shredder SG3, and associated consumables. This agreement allows Yinzhou to market and sell PBI products into the forensics marketplace only.
Ms Gechen Wang, director of Yinzhou, is a former graduate student of Dr Henry C Lee, the world famous forensic scientist with whom PBI has been collaborating since March 2012. PBI plans to add one or more additional distributors in China for representation outside of the forensics area during the second half of 2012.
For Vietnam, Cambodia, and Laos, the company entered into an exclusive distribution agreement with BMN MSI in Hanoi for its PCT product line and a non-exclusive agreement for the Shredder SG3 homogenization device and associated consumables. For Australia and New Zealand, the Company entered into an exclusive distribution agreement with iScience Technology (Melbourne, Australia) for its PCT product line, and a non-exclusive agreement for the Shredder SG3 homogenization device and associated consumables.
Mr Richard T Schumacher, president and CEO of Pressure BioSciences, said: "During the first half of 2012, we added four strategic US partners and four international distributors to help us aggressively market and sell our novel PCT instruments and consumables. Initial orders have already been received from several of these new partners/distributors. We believe that the number of such orders will continue to increase, that products and programs planned for market release during the second half of 2012 will positively impact revenue this year, that the number of PCT applications will continue to grow, that the number of publications and presentations that cite the benefits of PCT in sample preparation will continue to expand, and that the number of research scientists introduced to the advantages of PCT will continue to increase. We further believe that the combination of these factors will result in significantly greater revenue in 2012 compared to 2011."