RBCC Target Amarantus Wins MANF Patent Challenge in Europe

  RBCC Target Amarantus Wins MANF Patent Challenge in Europe

Business Wire

NOKOMIS, Fla. -- December 05, 2012

Rainbow Coral Corp. (OTCBB: RBCC) joint venture target Amarantus Bioscience,
Inc. (OTCQB: AMBS) recently won a major victory when its patent for MANF, the
company’s proprietary anti-apoptosis therapeutic protein, was challenged in
Europe.

The Opposition Division of the European Patent Office upheld Amarantus’
European Patent relating to the neurotrophic factor following opposition by
rival Hermo Pharma OY of Finland.

The Opposition Division held that Hermo Phrama’s arguments did not prejudice
the maintenance of the patent as originally granted, with broad claims
covering MANF and its derivatives. The Opponent had not contested the validity
of the patent on the basis of novelty or inventive step, but had objected to
the broad scope of the claims. After due consideration, the Opposition
Division rejected the Hermo Pharma’s arguments and upheld the claims without
restriction.

“This is a highly significant decision for Amarantus, after an extended period
of uncertainty,” said Marc Wilkinson PhD, European Patent Attorney of UK firm
Avidity IP, representing Amarantus. “The Opposition Division’s decision
validates broad protection for MANF and derivatives across major European
jurisdictions.”

The decision was significant for RBCC, as well. The company’s biotech
subsidiary, Rainbow Biosciences, is close to finalizing a joint venture with
Amarantus to develop and market new therapies and treatments for neurological
diseases including Parkinson’s and Traumatic Brain Injury (TBI) around the
world. By upholding the patent, the European Patent Office has cleared the way
for potentially lucrative promotion and distribution of MANF on that
continent.

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
(NYSE:ABT).

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
visitwww.RainbowBioSciences.com/investors.html.

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Contact:

Rainbow Coral Corp.
Patrick Brown, 813-367-9511
President and CEO
info@rainbowcoral.com