Company Engages Highly-Regarded Lead Generation Service and Hires the First Two of Four Field Sales Directors, Executing on its Plan to Aggressively Enhance Product Sales Capabilities in 2017
Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure cycling technology ("PCT")-based sample preparation solutions to the worldwide life sciences industry, today announced that it has significantly bolstered its marketing and sales capabilities by contracting with well-known and highly regarded EKG Sales Associates, and by hiring two of its planned four additional field sales directors. For the past few years, the Company's selling efforts have relied on two part-time field sales directors in the U.S. and several distribution partners internationally.
EKG Sales Associates ("EKG") is a well-known life sciences lead generation service. EKG has spent over 20 years developing a contact database with over 50,000 scientists and other individuals from the life sciences area, some of whom are key decision makers. These contacts are from academia, government, pharma, and biotech. EKG Sales Associates has maintained a regular dialogue with these contacts about laboratory equipment and associated consumables over many years.
Dr. Nate Lawrence, VP of Marketing and Sales at PBI, said: "EKG came highly recommended from several industry colleagues, who said they were among the best at generating real, viable leads. We consequently hired them on a three-month trial basis. Due to the quality and number of leads received during the trial period, we are now working on a contract extension that will take us to 2018."
Ms. Mary Kay Walsh, President of EKG, said: "We look forward to extending our relationship with Pressure BioSciences. They have a unique technology platform in PCT. Their instrument and consumables product lines have received a great response from scientists within our contact network, especially their recently released, award-winning Barocycler 2320EXTREME. Our team looks forward to the opportunity of helping to increase PBI's share of the vital sample preparation market across all of the U.S. and Canada into 2018."
In addition to engaging EKG, PBI has also hired two field sales directors over the past two weeks. Ms. Rajni Kareer will serve as the Company's Sales Director covering all of the west coast of the U.S. The other Sales Director just hired -- Mr. Nicholas Cobb -- will cover upstate New York, northern New England, and all of eastern Canada. He will also have responsibility for field service throughout the U.S. and Canada. Both hires have a strong background in selling capital equipment to research laboratories, including spectrometers and HPLC equipment, as well as laboratory consumables.
Ms. Roxana McCloskey, Director of Marketing and Sales for North America, said: "We are delighted to have Rajni and Nick join our rapidly-growing sales team. Both attended the 2017 U.S. Human Proteome Organization Conference in San Diego this week, working in our exhibit booth and meeting with scientists, some of whom already use PCT in their research studies. Their deep experience allowed them to 'hit the ground running.' We believe they will be highly successful field sales directors for PBI."
Ms. McCloskey continued: "We are excited with the hires of EKG and our two new field sales directors, but there is still much to do to complete our plan to build a viable, experienced, and successful marketing and sales team at PBI. We are committed to the immediate hire of at least two additional field sales directors, one each for the mid-west and east coast regions. We have interviewed a number of strong candidates and believe we will be in a position to fill these two open territories with superb candidates in short order. Once we have our initial team of four field sales directors, and a strong source of well-qualified leads from our EKG colleagues, we believe we will be well-positioned to pursue our aggressive sales goal for the remainder of 2017."
About Pressure BioSciences, Inc.
Pressure BioSciences, Inc. develops, markets, and sells proprietary laboratory instrumentation and associated consumables to the estimated $6 billion life sciences sample preparation market. Our products are based on the unique properties of both constant (i.e., static) and alternating (i.e., pressure cycling technology, or PCT) hydrostatic pressure. PCT is a patented enabling technology platform that uses alternating cycles of hydrostatic pressure between ambient and ultra-high levels to safely and reproducibly control bio-molecular interactions. To date, we have installed over 250 PCT systems in approximately 160 sites worldwide. There are over 100 publications citing the advantages of the PCT platform over competitive methods, many from key opinion leaders. Our primary development and sales efforts are in the biomarker discovery, drug discovery and design, and forensics areas. Customers also use our products in other areas, such as bio-therapeutics characterization, soil & plant biology, vaccine development, and counter-bioterror applications.