RBCC JV Target Amarantus Secures $1.1 Million in Financing
NOKOMIS, Fla. -- November 15, 2012
Rainbow Biosciences, the biotechnology subsidiary of Rainbow Coral Corp.
(OTCBB: RBCC), is pleased to announce that its joint venture target, Amarantus
BioSciences (OTCBB: AMBS) has secured over $1.1 million in funding through two
In addition to strengthening the company’s balance sheet, financing will go
toward funding Amarantus’ ground-breaking new treatments and diagnostics for
neurological diseases including Parkinson’s, Traumatic Brain Injury (TBI),
Alzheimer’s and more.
RBCC and Amarantus finalized the framework of their proposed joint venture
“This capital infusion will go a long way toward helping to bring Amarantus’s
incredible breakthroughs to a market that is desperate for a cure,” said RBCC
CEO Patrick Brown. “This is a company with tremendous upside, and we continue
to look forward to participating in its rise.”
The JV’s first priority will be to advance Amarantus’s NuroPro Parkinson’s
Diagnostic Blood Test (“NuroPro”) towards commercialization. NuroPro works by
identifying differentiated levels proteins and peptides in the blood of
patients who have Parkinson’s disease, versus those who do not.
RBCC plans to invest in the ongoing development of NuroPro and to be repaid
for their investment out of proceeds from the sales generated by the
diagnostic. RBCC will then share in its revenues once the initial investment
For more information on Rainbow BioSciences’ neurological treatment
initiatives, please visitwww.rainbowbiosciences.com/investors.html.
RainbowBioSciences is dedicated to developing new medical and research
technology innovations to compete alongside companies such as Amgen Inc.
(NASDAQ:AMGN),Cell Therapeutics, Inc. (NASDAQ:CTIC), Abbott Laboratories
(NYSE:ABT) andAffymax, Inc.(NASDAQ:AFFY).
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
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
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