RBCC’s Pending JV Partner Amarantus Licenses Alzheimer’s Blood Test
NOKOMIS, Fla. -- December 19, 2012
Rainbow Coral Corp.’s (OTCBB: RBCC) pending joint venture partner Amarantus
BioScience, Inc. (OTCBB: AMBS) announced last week that it has licensed a
highly promising new diagnostic known as the LymPro Alzheimer's Disease
Diagnostic Blood Test (LymPro) from Memory Dx, LLC (MDx).
LymPro works by identifying immune-based biomarkers in the blood of patients
suffering from Alzheimer’s, thereby diagnosing the disease and allowing
physicians to definitively differentiate from other forms of dementia,
reducing the need for much costlier brain scans.
The diagnostic has the potential to become an invaluable new tool in
Alzheimer's clinical trials, where there has been a well-documented history of
patient recruitment errors related to inaccurate diagnosis of the disease.
LymPro has received over $3 million in research grants from the National
Institutes of Health (NIH) and completed two phase one clinical studies in
over 80 patients, showing 98% sensitivity and 96% specificity for Alzheimer's
disease diagnosis. Now the diagnostic is ready to move into a phase two
validation study. If successful, LymPro can begin generating revenue as a
laboratory developed test ("LDT") within 18 months of study initiation through
commercial sales and through sales to companies performing Alzheimer's disease
"LymPro has undeniable clinical and commercial potential as a diagnostic blood
test for Alzheimer's disease, and this license strengthens Amarantus’
diagnostic pipeline considerably," said RBCC CEO Patrick Brown. "We are
continuing to discuss partnership opportunities with Amarantus and look
forward to collaborating further in 2013."
The partnership will focus on the development and marketing of the diagnostic
to a clinical population hungry for effective new tests and treatments for
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
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Rainbow Coral Corp.
Patrick Brown, 813-367-9511
President and CEO
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