Grant Zeng, CFA
Continued Positive Data Support PCT In Forensic Application
On August 1, 2011, Dr. Bruce McCord from Florida International University presented updated results of PCT platform technology for forensic applications at an international forensics conference in Vermont.
In the presentation titled “DNA recovery by pressure cycling and its potential application to differential extraction”, Dr. McCord reported new findings about PBIO’s PCT technology in the potential application of forensic cases.
National Institute of Justice (NIJ) is currently spending millions of dollars on DNA backlog reduction and recovery of degraded evidence. A big issue is difficult extraction methods relying on specific buffers, sonification and other steps to isolate and remove DNA from substrates. Differential extraction of male versus female cells is an important issue especially with sexual assault and touch samples.
Current method for differential extraction of male vs female cells is achieved manually. This is time consuming and yield is not satisfactory. Dr. McCord’s research is focused on the differential extraction of male from female cells by using PCT platform technology.
Dr. McCord’s research is based on the following hypothesis: sperm and epithelial cells should respond differently to pressure cycling based on their different composition:
• Epithelial cells are larger, with more diffuse structures. They should be more distorted by pressure, and thus more sensitive to its effects.
• Sperm DNA is associated with protamines, proteins with a high cysteine content, crosslinked with disulfide bridges– dense packing of DNA (12-18% cysteine).
• Epithelial cell nuclei are surrounded by histone proteins. These are not as cross linked as protamines – less dense packing (0.2% cysteine)
The key findings from Dr. McCord’s research include:
• PCT treatment can produce selective extraction of vaginal epithelial cells and sperm cells
• Depending on buffer component epithelial or sperm cells can be selectively lysed
• Reducing agent TCEP produces improved selectivity of sperm extraction
• Combining TCEP and DTT further improves yield in case of mixed samples
• Increasing pressure cycles above 60 has no effect on yield
These findings are further evidence that PCT technology have broad applications in forensic cases. We remind investors that these new findings are additions to presentations reported last October. In October 2010 at the 21st International Symposium on Human Identification, two scientific presentations were reported about PCT technology in the application of forensic cases.
One study, Pressure Cycling Technology (PCT): Applications for Forensics DNA Analysis, was presented by Ms. Pam Marshall, MS, et al., from the Institute of Investigative Genetics, Department of Forensics and Investigative Genetics at the University of North Texas Health Science Center (UNTHSC), Fort Worth, Texas.
Data from this study showed an increase in DNA yield from forensic swab samples prepared with PCT compared to samples prepared without PCT. These results showed significant improvements in DNA yield from challenging forensic samples using PCT.
The second study was presented by Dr. Bruce R. McCord and Ms. Deepthi Nori, MFS from the International Forensic Research Institute (IFRI), Department of Chemistry and Biochemistry, Florida International University (FIU). The presentation was entitled Application of Pressure Cycling Technology (PCT) in Differential Extraction. In this study, the authors adopted a unique extraction protocol which uses PCT to differentially extract DNA from sperm and vaginal epithelial cells. This novel method has the potential to lead to better identification of criminals involved in sexual assaults.
Our immediate takeaways from the above studies:
PBIO’s PCT sample preparation platform technology is a superior method to apply to the forensic field. One major bottle neck in forensic sample preparation is the tiny amount of DNA at the crime scene. Therefore, methods used for sample preparation must have a high yield. Pressure Biosciences’ PCT technology seems to be the choice. The data presented by these studies are additional confirmation that PCT can improve the detection of DNA in challenging forensic samples. These methods can be used by forensic laboratories and criminal justice agencies worldwide to better identify missing persons or perpetrators of violent crimes.
PCT Continues To Demonstrate Positive Data In MS Applications
Also, at the 2011 American Society for Mass Spectrometry (ASMS) annual meeting, six presentations highlighted PBIO’s PCT technology as a superior method for sample preparation.
The studies focused on different proteins ranging from antibodies, vaccines, enzymes, human serum and bacterial materials. The sponsors include Merck, Centocor (J&J), PNNL (Battelle), and other academic institutions.
MS market is PBIO’s current focus. These positive dada further validate the effectiveness and efficiency of PCT in the sample preparation for MS. We believe PCT technology will become investigators’ choice eventually when more and more data come out to support its superiority to existing technologies.
What Are The Implications For PBIO?
PBIO is a life sciences company engaged in the research, development and commercialization of a novel, enabling platform technology called pressure cycling technology (PCT). The Company’s current product portfolio includes Barocyclers, PCT based instruments, and consumables, which include PULSE (Pressure Used to Lyse Samples for Extraction) Tubes as well as application specific kits (which include consumable products and reagents). The instruments and the consumables together make up the PCT Sample Preparation System (PCT SPS). The system follows the highly successful and profitable “razor and blade” business model.
The Company’s targeted market is research products and services for the life science industry. This market is comprised of academic research institutions (both private and government-sponsored), biotechnology and pharmaceutical companies, and other public and private laboratories. Currently, the Company provides PCT-based sample preparation products for genomic, proteomic, and small molecule studies.
Researchers at biological research laboratories must routinely prepare their samples prior to analysis. Sample preparation can be very challenging due to its complexity, time-consuming, and difficulties. The sample preparation market is a rather large and underserved market with tens of thousands of research laboratories worldwide needing high quality, affordable and easy-to-use sample preparation tools.
PBIO is an emerging leader in the sample preparation market with its unique and powerful PCT platform technology. The Company’s PCT technology has competitive advantages over existing technologies in the sample preparation market. As we pointed out in our previous research reports, PBIO is still in its early stage of commercialization and PCT is increasingly gaining recognition by research labs worldwide.
We have an Outperform rating for PBIO with a price target of $5 per share.
For a free copy of the full research report, please email scr@zacks.com with PBIO as the subject.
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