Document:

Closing Balance Sheet Agreement

  
 Exhibit 10.11

  
 CLOSING BALANCE SHEET AGREEMENT 
  
 This Closing Balance Sheet Agreement (this “CBS Agreement”) is
entered into on February 17, 2005 (the “Effective Date”), by and among Pressure BioSciences, Inc. (formerly known as Boston Biomedica, Inc. (“PBI”)), PBI Biotech Research Laboratories, Inc. (formerly known as BBI Biotech Research
Laboratories, Inc. (“PBI Biotech”)), and SeraCare Life Sciences, Inc. (“SeraCare”). 
  
 RECITALS 
  
 A. WHEREAS, PBI, PBI Biotech and SeraCare are parties to that certain Asset Purchase Agreement (the “Agreement”) dated April 16, 2004, as amended by that certain Amendment No. 1 to Asset Purchase Agreement, dated July 20, 2004.

  
 B. WHEREAS, in accordance with Section 2.5(a) of the
Agreement, pursuant to a letter dated November 12, 2004, SeraCare previously delivered to PBI and PBI Biotech the Closing Balance Sheet (the “Closing Balance Sheet”). 
  
 C. WHEREAS, the parties have not been able to agree on the amounts set forth in the Closing Balance Sheet, and therefore the
applicable Adjustment Amount. 
  
 D. WHEREAS, pursuant to (i) that
certain Letter Agreement Regarding Closing Balance Sheet Matters, dated November 22, 2004, between SeraCare, PBI and BBI Biotech (the “November 2004 Letter Agreement”), and (ii) that certain letter, dated December 17, 2004 from SeraCare to
PBI, the parties have previously resolved their disagreement over the amount of accounts receivable to be included in the Closing Balance Sheet (the “December 2004 Letter Agreement”, together with the November 2004 Letter Agreement, the
“Accounts Receivable Agreements”) . 
  
 E. WHEREAS, in
lieu of the dispute resolution provision set forth in the Agreement, the parties wish to finally resolve the remaining disputes over the Closing Balance Sheet as set forth herein. 
  
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereby agree as follows: 
  
 AGREEMENT 

 

	1.	All capitalized terms used but not defined herein have the meaning ascribed to such terms in the Agreement. 

  

	2.	Attached hereto as Exhibit A are joint instructions (the “Joint Instructions”) to the Escrow Agent to release $1.0 million (the “Final Adjustment Amount”)
from the Escrow Account. Concurrently with the execution of this CBS Agreement, the parties hereto will execute and deliver to the Escrow Agent the Joint Instructions. 

  

 3. The Final Adjustment Amount shall be treated by the parties as the equivalent of a binding
determination by the Independent Accountant as set forth in Section 2.5(d) of the Agreement, and therefore, upon SeraCare’s receipt of the Final Adjustment Amount, the parties will be deemed to have resolved their disputes over the Closing
Balance Sheet. 
  
 4. The parties further agree that upon
SeraCare’s receipt of the Final Adjustment Amount, the parties will be deemed to have released all claims they may have with respect to Sections 2.5(a) – (d), Section 2.6, Section 2.7, Section 4.4(c), Section 4.10(b), Section 4.11
(excluding the first two sentences of Section 4.11), Section 4.23 and Section 4.24 of the Agreement (collectively, the “Related Sections of the Agreement”). 
  
 5. Pursuant to that certain letter, dated November 24, 2004, from SeraCare to PBI, SeraCare has previously delivered to PBI
the purchase price allocation contemplated by Section 2.4(c) of the Agreement (the “Purchase Price Allocation”). Effective upon SeraCare’s receipt of the Final Adjustment Amount, the parties agree that the Purchase Price Allocation
shall be revised as set forth in Exhibit B attached hereto. 
  
 6. Each of PBI, PBI Biotech and SeraCare hereby waive and release any rights, remedies or claims and covenant not to sue each other with respect to the failure by PricewaterhouseCoopers LLP, the former auditors of PBI, to consent to the
incorporation (directly or by reference) of the audited financial statements of PBI for fiscal 2002 into the filings of SeraCare and PBI with the Securities and Exchange Commission. 
  
 7. Subject only to the express terms of this CBS Agreement, each of the parties may exercise any right or remedy available
to them pursuant to the Agreement, including without limitation, each party’s right to pursue (i) claims for fraud or intentional misrepresentation, and (ii) any other claims either party may now or in the future have under the Agreement.
Further, PBI may continue to exercise any right or remedy available to it and any other claims it may now or in the future have pursuant to the Accounts Receivable Agreements, including without limitation, the right to receive the full amount of any
account receivable deemed past due pursuant to the December 2004 Letter Agreement (the “Past Due Receivables”) and for which SeraCare has previously been paid $412,192.08 from the Escrow Fund, either from SeraCare (in the event SeraCare
receives any payment (full or partial) for any Past Due Receivable from the account debtor) or from the account debtor. 
  
 8. SeraCare agrees that it will not interfere in any manner with the consummation by PBI of it’s tender offer that was commenced on December 27,
2004. 
  
 9. This CBS Agreement shall be construed, interpreted
and the rights of the parties determined in accordance with the laws of the State of Delaware. 
  
 10. This CBS Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legal representatives, successors and assigns. 
  
 11. This CBS Agreement may be executed in any number of counterparts, each of
which shall be deemed an original, but all of which together shall constitute one instrument. 
  
 [SIGNATURES ON FOLLOWING PAGE] 
  

 2 

 IN WITNESS WHEREOF, the parties have executed this CBS Agreement by their duly authorized representatives
effective as of the Effective Date. 
  

									
	Pressure BioSciences, Inc.	 	 	 	SeraCare Life Sciences, Inc.
					
	By:	 	/s/    RICHARD T.
SCHUMACHER          	 	 	 	By:	 	/s/    JERRY L. BURDICK        
	 Name:
	 	Richard T. Schumacher	 	 	 	 Name:
	 	Jerry L. Burdick
	 Title:
	 	CEO and President	 	 	 	 Title:
	 	Secretary

  

									
	PBI Biotech Research Laboratories, Inc.	 	 	 	 
					
	By:	 	/s/    RICHARD T.
SCHUMACHER          	 	 	 	 	 	 
	 Name:
	 	Richard T. Schumacher	 	 	 	 	 	 
	 Title:
	 	PresidentLetter Agreement, Dated February 1, 2005

 EXHIBIT 10.2 
  
 SERACARE LIFE SCIENCES, INC. 
  

Stager Partners, L.P. 
 c/o Triad Securities 
 111 Broadway, 11th Floor 
 New York, NY 10006

 Att’n: Josephine Tecla 
  
 Jacob Safier 
 626 Oak Drive 
 Far Rockaway, NY 11691 
  
 Chesed Congregations of America 
 One State Street Plaza 
 29th Floor 
 New York, NY 10004 
  
 Kenneth R. Levine 
 1776 Broadway, Suite 1403 
 New York, NY 10017 
  
 February 1, 2005 
  
 Gentlemen:

  
 In connection with your purchase from Probitas Pharma, S.A.
of Warrant No. W-1, dated September 24, 2001, to purchase 563,347 shares of the Common Stock of SeraCare Life Sciences, Inc. (the Company”) at an exercise price of $3.05 per share (the “Warrant”), you have asked us to include the
shares of Common Stock issuable upon the exercise of the Warrant (the “Warrant Shares”) in a registration statement on Form S-3, Form S-1 or similar form (other than a Form S-8 or similar form used primarily for the registration of
securities issued for employee benefit purposes) that we may file on or after the date hereof with respect to the registration of the resale of shares of our Common Stock. 
  
 Subject to the limitations set forth below, we hereby agree that we will offer to include the Warrant Shares, to the extent
you are then still the owners of the Warrant or such Warrant Shares, in a registration statement on Form S-3, Form S-1 or similar form (other than a Form S-8 or similar form used primarily for the registration of securities issued for employee
benefit purposes) that we may file on or after the date hereof with respect to the registration of the resale of shares of our Common Stock (including an amendment to Registration Statement No. 333-118123, which is currently not effective, and was
originally filed by the Company with the Securities and Exchange Commission on August 11, 2004). 
  
 Our foregoing commitment to you is subject to the following: (i) we have no obligation to include any of the Warrant Shares in a Registration Statement
for an underwritten public offering of any of our securities, (ii) we have no obligation to include any of the Warrant Shares in a Registration Statement if to do so would result in expense to the Company in excess of $25,000 in the aggregate, (iii)
we have no obligation to include any of the Warrant Shares in a Registration Statement if, after discussion with our counsel and/or consultations with the staff of the Securities and Exchange Commission, we determine that to do so could adversely
impact the prompt registration of the other resales or primary issuances contemplated by the applicable Registration Statement; and (iv) we have no obligation to include any of the Warrant Shares in a Registration Statement unless we have received
all documentation reasonably requested by us in order to properly document your participation in such Registration Statement as a selling stockholder (including a reasonable indemnity for any inaccuracies in such documentation). 

 Notwithstanding anything herein to the contrary, (i) we have no obligation to you to maintain the
effectiveness of any registration statement, and (ii) all of our obligations to you under this letter shall terminate on September 24, 2007. 
  
 Please note that the rights granted to you in this letter are not assignable. This letter sets forth the complete understanding and agreement between you
and us with respect to any obligations we may have to assist you in registration of the resale of the Warrant Shares and supersedes all prior and contemporaneous agreements and understandings both written and oral, between you and us with respect to
the same. 
  
 Please confirm your acceptance and agreement to the
above by signing and returning to me a copy of this letter. 
  

			
	 Sincerely yours,

	
	 SeraCare Life Sciences, Inc.

		
	 By:
	 	 /s/    MICHAEL F. CROWLEY, JR.

	 	 	Michael F. Crowley, Jr.

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