Rainbow Coral Corp. (OTCBB: RBCC) biotech division Rainbow BioSciences is currently in talks to help develop and market a revolutionary, sustained-release drug delivery platform that could soon make local delivery of biologic agents and small molecules safer, more effective and more convenient than ever before.
The company is currently working on a potential joint venture agreement with a privately held drug delivery company developing the novel technology. The delivery platform is being engineered to solve the problems posed by systemic drug delivery, including oral and IV delivery. In many cases, systemically delivered drugs can’t reach sufficient concentrations in target organs to be effective without damaging the liver, kidneys or heart. Often, systemic delivery also requires frequent, expensive injections.
The technology RBCC is currently reviewing has the potential to enable selective, site-specific delivery, allowing for lower drug concentrations and greatly reducing the risk of drug toxicity.
“Because it’s a sustained-release delivery system, patients could potentially only need one injection every six months,” said RBCC CEO Patrick Brown. “In addition to helping millions of patients struggling with chronic conditions, the technology also has the benefit of extending the patent life cycles of drugs, giving potential pharmaceutical partners a tremendous market advantage.”
“RBCC hopes to conclude its due diligence work on the drug delivery company and sign a joint venture agreement to begin getting the new technology into doctors’ hands in the next few weeks,” Brown added.
For more information on Rainbow BioSciences’ current projects, please visit www.rainbowbiosciences.com/investors.html.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Bristol Myers Squibb Co. (NYSE: BMY), Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT) and Amgen Inc. (NASDAQ: AMGN).
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 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.
Patrick Brown, 813-367-9511
President and CEO
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