RBCC Forms Joint Venture With Cutting-Edge Drug Delivery Company TheraKine
NOKOMIS, Fla. -- March 20, 2013
As part of a bold expansion into the $60 billion global drug delivery market,
Rainbow BioSciences, the biotech division of Rainbow Coral Corp. (OTCBB:
RBCC), today announced it has formed a new partnership to solve the problems
posed by systemic drug delivery.
RBCC signed a joint venture agreement with TheraKine Ltd., the developer of a
revolutionary, sustained-release drug delivery platform that could soon make
local delivery of biologic agents and small molecules safer, more effective
and more convenient than ever before. The company has developed and patented
these novel, tunable technologies with the potential to enable selective,
site-specific drug delivery, allowing for lower drug concentrations and
significantly reducing the risk of drug toxicity.
Additionally, this new sustained-release technology can also extend the patent
life cycles of drugs, giving potential pharmaceutical partners a tremendous
“TheraKine’s sustained-release delivery system could allow patients who now
need daily injections to instead have one injection every four to six months,”
said RBCC CEO Patrick Brown. “We expect the demand for this product to be very
high once it’s made available, and RBCC plans to take a real stake in its
Stan Yakatan, TheraKine's CEO, said, "TheraKine is excited about the
opportunity to partner with Rainbow to repurpose drugs with our sustained
RBCC is dedicated to delivering new medical research and technologies to a
hungry global marketplace. For more information on RBCC’s initiatives, please
Rainbow BioSciences will develop new medical and research technology
innovations to compete alongside companies such as Bristol Myers Squibb Co.
(NYSE:BMY),Biogen Idec Inc. (NASDAQ:BIIB), Abbott Laboratories (NYSE:ABT)
and Amgen Inc. (NASDAQ:AMGN).
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 www.RainbowBioSciences.com. For investment information and
performance data on the Company, please
About TheraKine Ltd.
TheraKine Ltd. is a privately held platform technology company with
laboratories in Berlin (Germany). TheraKine provides innovative reformulation
to enable sustained release for pharmaceutical and biological companies
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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