South Easton, MA, May 7, 2020 – Pressure BioSciences, Inc. (OTCQB: PBIO) (“PBI” or the “Company”), today announced
that personal care industry leader Jim Morrison has been appointed to serve as the new CEO of the rebranded public
company, Availa Bio, upon completion of the merger with Cannaworx, SkinScience Labs and Pressure BioSciences. As part
of the proposed transactions, the Company intends to change the corporation’s name to Availa Bio. Morrison has had a
legendary career including numerous leadership positions in the personal care industry, most notably as President of L’Oréal.
While at L’Oréal, Morrison oversaw growth that averaged more than 20% year-over-year. He engineered the acquisitions
of Redken and Matrix and led the company during a period of unprecedented growth during his tenure.
Morrison is considered one of the top brand strategists in the personal care space. Most recently, Morrison has been CEO of
StarShop, the first celebrity-driven, mobile shopping App. He launched StarShop as a partnership with the
telecommunications giant SPRINT and guided the company to a successful exit earlier this year. Morrison has had a long
history of working with celebrities in the beauty space and at StarShop, most notably Britney Spears, Kimora Lee Simmons,
Flo Rida, Katharine McPhee, Christie Brinkley, Rob Lowe and Kylie Jenner.
Business Week Magazine previously wrote: “Over the last two decades, Mr. Morrison has had a profound impact on the
American Beauty Industry. In the industry’s history no other executive has had the level of financial responsibility or breadth
of organizational experience as Jim. His devotion to, and success within the American beauty industry is unmatched.”