RBCC Initiates Talks to Acquire License for NASA Bioreactor Technology
NOKOMIS, Fla.--(BUSINESS WIRE)-- Rainbow Biosciences, the biotech subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), announced today that it has engaged Regenetech in discussions regarding the potential acquisition of a license to perform cell expansion using that company's Rotary Cell Culture SystemTM.
The Rotary Cell Culture SystemTM is a rotating-wall bioreactor designed to facilitate the growth of human cells in simulated weightlessness. Cell cultures, including stem cells, grown inside the bioreactor look and function much closer to human cells grown within the body than the flat cell cultures grown in Petri dishes.
The device was developed by NASA and acquired by Regenetech, a company that owns the license to use the bioreactor to multiply stem cells. RBCC is interested in acquiring a license from Regenetech to use the cell culture system, facilitating partnerships with research centers worldwide.
"This technology could allow RBCC to developing new cures and treatments using revolutionary stem cell therapies," said RBCC CEO Patrick Brown. "Obtaining the proper license to perform cell expansion in select markets around the globe may prove key to establishing RBCC as a world leader in supplying stem cells to research laboratories. We aim to come to an agreement with Regenetech soon."
Some analysts predict that global investments in adult stem-cell research could reach $2.4 billion by 2015. RBCC is currently exploring ways to capitalize on that growth. The company 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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