RBCC: Stem Cell Market Poised for Billion-Dollar Growth
NOKOMIS, Fla.--(BUSINESS WIRE)-- As Rainbow BioSciences, the biotech subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), works to acquire licensing for commercial use of NASA-developed stem cell expansion technology, the company received good news from a Wall Street analyst's forecast on Wednesday.
Writing for Seeking Alpha, George Kesarios predicted major growth for the global stem cell market in coming years. It's estimated that the market will be worth about $64 billion by 2015, up from $21.5 billion in 2010.
Kesarios attributed the growth largely to a potential revolution in drug companies' research and development made possible by an abundance of induced pluripotent stem cells.
"With these stem cells, scientists can actually create working facsimiles of living human tissue, introduce diseases and observe how they unfold under a microscope," said RBCC CEO Patrick Brown. "Spending a decade on research only to discover in trials that a drug doesn't work could become a thing of the past. Stem cells hold the key to the future of profitable, effective drug development."
That's why RBCC 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 potential for stem cells expansion using this unique culturing system originally devised for the space program is incredible," Brown said. "Every cell researcher in the world is going to want access to this technology."
RBCC plans to offer new 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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