RBCC: Short R&D Timeline Could Lead to Larger Profits
NOKOMIS, Fla. -- November 19, 2012
As Rainbow Coral Corp. looks ahead to a successful 2013, the company has
placed a high priority on initiating projects that will realize profits
The first project to be fast-tracked will be the company’s joint venture with
Amarantus BioSciences (OTCBB: AMBS). Both companies forswear realizing
revenues from the impending commercialization of Amarantus’ NuroPro, a
sophisticated test developed to more accurately and easily diagnose
Parkinson’s disease. NuroPro works by identifying differentiated levels
proteins and peptides in the blood of patients who have the disease.
RBCC and Amarantus expect to finalize NuroPro’s development timeline within
the next 12-14 months. By cutting the typical timeline from years to only one
year, RBCC and its shareholders believe they will see larger profits more
quickly from the deal.
The shortened timeline became a possibility last week when Amarantus secured
over $1.1 million in funding through two separate transactions. RBCC plans to
invest in the ongoing development of NuroPro and to be repaid for its
investment out of proceeds from the sales generated by the revolutionary
diagnostic blood test.
If milestones are met, RBCC will then share in its revenues sooner than
originally anticipated, once the initial investment is repaid.
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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