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Print Edition StoriesMonday, February 1, 2010
Pressure BioSciences moves R&D to UMass Boston
By Mass High Tech staff
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Pressure BioSciences Inc. has moved its research and development operations into an incubator at the University of Massachusetts Boston, according to UMass.
The company, which is based in South Easton, will move its R&D into the university’s Venture Development Center, bringing the center to 75 percent occupancy, according to UMass. Pressure BioSciences (Nasdaq: PBIO) makes instruments for taking samples of proteins, DNA, RNA and small molecules for biological research.
UMass Boston has also purchased Pressure BioSciences’s Barocycler sampling instrument, according to the school. Financial terms of the purchase were not disclosed. The tool is planned to be used at the Venture Development Center’s Center for Personalized Cancer Therapy, a joint effort with the Dana-Farber Cancer Institute.
UMass Boston opened the Venture Development Center in May 2009. The center is also home to DPixel, Anthurium Solutions Inc., Symmetric Computing, RetireHub.com, GeoMed Analytical, the Development Sciences Research Center/Horizon and the Collaborative Institute for Oceans Climate and Security.
Pressure BioSciences has been dealt a heavy blow by the economic downturn in the last year. In July, CEO Richard Schumacher said the company can hang on for another year, based on its cash on hand. “We don’t have the bandwith to do what we want to do,” he said, but he added that the company will survive.
Pressure BioSciences pulled in a $2.5 million private placement, made up of equity, warrants and securities, between November and December.
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