RBCC Expands Cell Culturing Focus to Include Adult Stem Cells
NOKOMIS, Fla.--(BUSINESS WIRE)-- Rainbow Biosciences, the biotechnology subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), announced today that it will expand its focus on technology capable of culturing 3D cell clusters to include adult stem cells, as well.
According to a report published last year by analysts as GIA, global investments in adult stem-cell research are forecast to reach $2.4 billion by 2015. That growth is being driven by technological advancements, the rising number of research groups engaged in stem cell research activities, broadening research activities and substantial investments from governments in leading global markets.
A rising incidence of life-threatening diseases, un-met needs in the area of medicine, and costs associated with drug development also contribute to the market expansion.
"RBCC aims to help develop and market advanced new technologies capable of growing adult stem cells for research that more closely resemble those found in the body," said RBCC CEO Patrick Brown. "Demand from the world's growing elderly population is making continued stem-cell research a necessity, and we intend to position our company and our shareholders to capitalize on that need by providing the best stem-cell technology in the world."
RBCC plans to develop technology to compete in the stem-cell research industry alongside Amgen, Inc. (NAS: AMGN) , Celgene Corporation (NAS: CELG) , Genzyme Corp. (NAS: GENZ) and Gilead Sciences Inc. (NAS: GILD) .
For more information on Rainbow BioSciences, please visit www.rainbowbiosciences.com/investors.html.
About Rainbow BioSciences
Rainbow BioSciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. (OTCBB: RBCC). The company continually seeks out new partnerships with biotechnology developers to deliver profitable new medical technologies and innovations. For more information on our growth-oriented business initiatives, please visit our website at [www.RainbowBioSciences.com]. For investment information and performance data on the company, please visit www.RainbowBioSciences.com/investors.html.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Rainbow Coral Corp.
Patrick Brown, 813-367-9511
President and CEO
KEYWORDS: United States North America Florida
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