Company Confirms Initial Negotiations Underway with Five Different Groups for Single Statewide Exclusive Licenses for Nano-THC Products

SOUTH EASTON, MA / ACCESSWIRE / April 26, 2023 / Pressure BioSciences, Inc. (OTCQB:PBIO) ("PBIO" or the "Company"), a global leader in the development and sale of broadly enabling, high-pressure-based equipment, consumable products, and specialty services to the life sciences, nutraceuticals, cosmeceuticals, and other industries today provided a progress update on their exciting April 21, 2023, announcement. On that day, the Company announced their strategic decision to offer up to five exclusive statewide THC-processing licenses to their revolutionary, patented UltraShear Technology™ (UltraShear™ or UST™) platform for the preparation of oil-soluble THC concentrates into long-term stable, effectively water-soluble, and highly bioavailable nanoemulsions of THC oil in water.

THC is an oil-soluble molecule known to be quickly absorbed when inhaled (nearly instantaneous first effects) but is slowly absorbed and poorly bioavailable when ingested (30-60 minutes to first effects, and 60-120 minutes to full effects, on average). Data generated by PBIO's independent collaborators and academic research sources show that ingestion of THC oil pre-processed by the UltraShear platform evidenced first effects in an extremely rapid 1-10 minutes (3-5 minutes on average). In addition, UltraShear CBD nanoemulsions have shown long-term stability, effective water solubility, and high total bioavailability in independently-run animal studies. Early testing of Nano-THC preparations is already confirming similar rapid and effective absorption in line with the Nano-CBD results.

Following closure of each license purchase, the Licensee becomes the exclusive producer of UltraShear THC nanoemulsions within their designated licensed state for a three-year period. Critical terms of each exclusive license include:

• License applicable for nanoemulsification of THC as the primary active ingredient.
• One license per state: all states are currently available but will not be available upon closure of the first five licenses.
• THC products can only be shipped within the state of license.
• Licensee pays an upfront license fee to PBIO.
• Licensee pays upfront for the manufacture of a custom-designed UltraShear instrument for their facility.
• The final cost of the license and the UltraShear instrument will be negotiated between Licensee and PBIO.
• Licensee will have a zero-cost instrument lease for three years post-instrument commissioning.
• Licensee will have a first right to negotiate an extension to exclusivity when the three-year exclusive period ends.

Based upon the strong and diverse initial response to this opportunity, the Company believes it will close on the sale of all five licenses within the next 15-60 days. Additional parties interested in participating in this Nano-THC Exclusive and Early Access Program should contact John Hollister or Ken Micciche at 508-230-1828.

Mr. Richard T. Schumacher, CEO and President of PBI, summed up: "Completing the sale of these five licenses is expected to generate $5,000,000 or more of topline, non-dilutive revenue for PBIO. These funds will facilitate our rapid production of UltraShear equipment, which will support these THC processing licenses, as well as efforts underway to develop multiple other Nano products to serve additional major potential markets, such as sleep, immune booster, and hair restoration. Many of these additional markets are multiples in size of the THC opportunity, which is already a major market opportunity."

About Pressure BioSciences, Inc.

Pressure BioSciences, Inc. (OTCQB: PBIO) is a global leader in providing innovative, broadly enabling, high-pressure-based solutions for a range of industries, including biotechnology, pharmaceutical, nutraceutical, and agrochemical, as well as food and beverage manufacturing. Our products utilize both constant and alternating pressure. Our patented enabling technology platform, Pressure Cycling Technology (PCT), utilizes alternating cycles of pressure to control bio-molecular interactions (such as cell lysis and biomolecule extraction) safely and reproducibly. PCT-based products are beginning to be widely used for biomarker and target discovery, drug design and development, biotherapeutics characterization and quality control, soil & plant biology, forensics, and counter-bioterrorism applications. We have recently expanded our market opportunities with the acquisition of the BaroFold™ patented technology platform, allowing us to enter the bio-pharma contract services and GMP manufacturing equipment sector. We have also developed the scalable and high-efficiency pressure-based UltraShear Technology™ (UltraShear™ or UST™) platform, which allows for the creation of stable nanoemulsions of otherwise immiscible fluids. It also allows for the preparation of higher quality, homogenized, extended shelf-life or room temperature-stable low-acid liquid foods that cannot be effectively preserved using existing non-thermal technologies. Our commitment to innovation and cutting-edge technology has established PBIO as a leader in the high-pressure industry, providing unique and effective solutions to our customers.

Forward Looking Statements

This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied, or inferred by these forward-looking statements. In some cases, youcan identify forward-looking statements by terminology such as "may," "will," "should,""could,""would," "expects," "plans," "intends,""anticipates," "believes," estimates,""predicts," "projects,""potential" or "continue" or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not placeundue reliance on these statements. In evaluating these statements, you should specifically consider various factors. Actual events or results may differ materially. These and other factors may cause our actual results to differ materially fromany forward-looking statement. These risks, uncertainties, and other factors include, but are not limited to, the risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and other reports filed by the Company from time to time with the SEC. The Company undertakes no obligation to update any of the information included in this release, except as otherwise required by law.

For more information about PBIO and this press release, please click on the following website link:

http://www.pressurebiosciences.com

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Press Contacts:

Richard T. Schumacher, President & CEO (508) 230-1828 (T)
John B. Hollister, Director of Marketing and Sales (805) 908-5719 (T)
Kenneth F. Micciche, Director of Business Development (508) 230-1828 (T)
Jeffrey N. Peterson, Chairman (650) 812-8121 (T)

SOURCE: Pressure BioSciences Inc.