RBCC JV Target Amarantus Explores Orphan Drug Designation for MANF
NOKOMIS, Fla. -- November 26, 2012
Rainbow Coral Corp. (OTCBB: RBCC) joint venture target Amarantus BioSciences
(OTCBB: AMBS) recently announced the company will seek orphan drug designation
from the FDA for MANF, the therapeutic protein developed to treat Parkinson’s
disease and traumatic brain injuries.
The Orphan Drug Act, passed by Congress in 1983, provides for the granting of
special status to a product used to treat rare diseases. Orphan drug
designation means that the drug sponsor qualifies for certain benefits, such
as reduced taxes, from the federal government.
While Parkinson’s disease and traumatic brain injury are both afflictions
suffered by large populations of patients worldwide, Amarantus’ research
indicates that MANF may also be well-suited to treating many rare and
ultra-rare neurological ailments, as well. By pursuing orphan drug status, the
joint venture could potentially fast-track MANF on an accelerated timetable
requiring fewer and smaller clinical trials for commercialization.
Competitors such as Genzyme, FerroKin Biosciences and Alexion Pharmaceuticals
have leveraged orphan drugs into buyouts totaling billions of dollars in
recent years, raising Amarantus’ expectations for MANF.
Amarantus recently received millions in new funding to continue their research
and development work. The joint venture’s first priority will be the speedy
commercialization of Amarantus’ NuroPro, a sophisticated test developed to
more accurately and easily diagnose Parkinson’s disease.
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) and Abbott Laboratories
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
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Rainbow Coral Corp.
Patrick Brown, 813-367-9511
President and CEO
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