N. American Ex Awards 2017

10 CORP AMERICA / North American Excellence 2017 leading academic institutions worldwide (e.g., UCLA, Cedars Sinai Medical Center, Johns Hopkins, Stanford, ETH in Zurich, Northwestern University, RPI, etc.); pharma and biotechnology firms (e.g., Amgen, Biogen, Genentech, Takeda, Monsanto, etc.); and government agencies (e.g., FBI, FDA, CDC, NIH, USDA, etc.). Running such an innovative firm demands an experienced and dedicated leader, and Richard T. Schumacher works hard to ensure that his firm offers the very highest standards of solutions, drawing on his vast industry knowledge and experience. He is the Founder and Co-Founder of three businesses prior to PBI. His first company, Boston Biomedica (NASDAQ: BBII), was founded in 1978 to develop independent test controls that were not available at the time, in order to bring higher quality and greater safety to the testing of blood and blood products for infectious diseases such as viral hepatitis and AIDS. There are most likely thousands of people alive and well today because BBII pioneered the way increase the quality of testing in the blood supply, with the result being the release of safer blood and blood products. The second, Trinity Biotech (NASDAQ: TRIB), was founded in 1993 (as Saliva Diagnostics) to detect evidence of HIV infection in saliva, in an effort to be better determine the prevalence and incidence of AIDS, to better understand its means of transmission, and to be better able to develop new ways for the control and prevention of AIDS infection. Richard’s third company, Panacos Pharmaceuticals (NASDAQ: PANC) was founded in 2001 to develop a new, first-in- kind anti-viral therapy, to better control the AIDS disease in an infected person. Pressure BioSciences, Inc., Richard’s fourth publicly-traded company, was founded on the same thesis as these previous three companies; to generate a financial return for investors while building a world-class company to develop products and services to make a measurable difference in people’s lives, as Richard emphasises. “I am the founder or co-founder of three successful publicly- traded companies. All three were founded with a similar mission – to enhance the efficiency and speed of scientific research, which in turn should increase the quality and decrease the cost of healthcare. These companies have provided me with a wealth of experience which I draw on constantly as I work with my Board and the PBI Team, in our efforts to develop PBI into a world-class, profitable life sciences company. “As a research scientist in the 70s and 80s at the Center for Blood Research in Boston (a Harvard Medical School affiliated laboratory), and at Boston Biomedica in the 90s, I saw the need to develop better methods of breaking open cells in order to more efficiently, accurately, and reproducibly extract the thousands of biomolecules (proteins, lipids, nucleic acids, small molecules) that are in or on these cells in our search for new and very much needed biomarkers. “I began to think of the enormous savings in healthcare costs if, for example, we could tell a man diagnosed with prostate cancer that he does not need to have a prostatectomy. Thousands upon thousands of men go through this procedure each and every year, although it is not needed in most of them, because they do not have an aggressive form of prostate cancer. It is thus imperative that we discover a biomarker that can determine the aggressiveness of prostate cancer, one that can better classify prostate cancer through tissue biopsies. Professor Ruedi Aebersold, one of the top protein chemists in the world, and an acknowledged expert in mass spectrometry (the ”gold standard” method to study the composition of a protein), published an article in Nature Medicine in June 2015, in which he stated his belief that the PCT Platform could significantly improve the search for biomarkers. “As such, here at PBI we believe that we have an enabling and powerful sample preparation method that can bring much greater quality to the preparation of samples that is routinely performed in biological research labs worldwide. These better quality methods, if eventually incorporated into the clinical laboratory setting, could potentially have the impact of significantly reducing the cost of healthcare, through less testing, better diagnoses, and fewer unnecessary procedures, including surgeries.” Richard firmly believes that the firm’s innovative PCT technology will remain vital to the industry and could be used by thousands of laboratories worldwide with the chance to revolutionise the research they perform. “We believe that there are approximately 80,000 laboratories worldwide that require the extraction of DNA, RNA, proteins, lipids, and small molecules from biological samples for research studies. Based on market data, our results to date, and the fact that PCT is a novel, cutting-edge technology currently uncontested in the field of small volume, high pressure preparation of research samples, we believe that a large number of these laboratories could benefit from the advantages of the PCT Sample Preparation System. We believe that we can capture a reasonable share of this existing market over the next 3-5 years, and that by doing so, we could become a highly respected and profitable life sciences instrument and consumables provider.” “In addition to our patented and cutting-edge technology platform, we have both a hard-working, results-driven management and support team, and an experienced and supportive Board of Directors. We believe the combination of these factors will help ensure the success of our company with a concomitant strong return-on-investment for stakeholders in PBI.” Last year the firm enjoyed exceptional growth, beginning 2016 with 1Q16 revenues climbing 16% year-on-year to reach $454,350. During this same quarter, PBI grew products revenue by 26.4%. Most impressively, the company has just one full-time employee focused exclusively on marketing and sales. The year continued on an equally strong note, with products and services revenue for the first nine months of 2016 increasing to $1,429,487 from $1,174,391 for the same period in 2015. This was a record high for a nine- month period, and exceeded the previous record high (2015) by approximately 22%. Revenue was driven primarily by the sale of instruments, which also set a record high for the nine-month period of $1,001,060, compared to $752,444 (the previous record) for the same period in 2015. Grant revenue decreased during the first nine months of 2016 to $127,289 from $259,181 during the same period in 2015, whilst operating loss for the nine-month period ended September 30, 2016 was $2,558,448 compared to a loss of $2,629,436 for the same period in 2015. This decrease in operating loss was primarily due to credits received from a former service provider to the firm and by careful control of expenditures. This strong financial performance highlights the firm’s drive for excellence and its continued overall success, as Richard explains. “Looking ahead, we expect grant revenue to begin to increase in the fourth quarter of 2016 and to continue to increase in 2017. Total revenue increased to a record $1,556,776 for the nine-month period ended September 30, 2016, compared to $1,433,572 during the same period in 2015. We achieved this level of revenue in spite of the significant decrease observed in grant revenue. Best New Instrument for Sample Preparation 2017: Barocycler 2320EXTREME & Recognized Leader in the Life Sciences – USA g