RBCC and n3D Seek Out Additional Capital
MIRAMAR BEACH, Fla. -- April 9, 2014
Rainbow Coral Corp. (OTCBB: RBCC) and its joint venture partner, Nano3D
Biosciences (n3D) are seeking out new finance partners to market and develop
their 3D bioprinting technology worldwide.
The joint venture is working to raise approximately $1-3 million to further
market and develop the BiO Assay product line.
Developed by n3D, the BiO Assay is the world’s first commercially available 3D
bioprinting system designed for high throughput and high-content drug
screening. The automated toxicity assay uses biocompatible magnetic
nanoparticles to print cells into 3D structures much faster and more
affordably than competing bioprinting tech currently on the market.
The market-ready technology could represent the dawn of a new era in
pharmaceutical research, offering better and faster results than have
previously been possible. Now, RBCC is seeking out funding from niche
investment firms specializing in biotech to give the BiO Assay the sales push
it needs to become a market leader.
“We expect this product to generate huge revenues around the globe,” said RBCC
CEO Kimberly Palmer. “We’re counting on other investors who feel the same to
help us market this amazing device to researchers all over the world.”
RBCC formed a biotech subsidiary, Rainbow Biosciences, to market and develop
new medical and research technology innovations to compete alongside companies
such as Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT) and
Amgen Inc. (NASDAQ: AMGN). In 2012, Rainbow Biosciences acquired an equity
interest in n3D.
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 visitwww.RainbowBioSciences.com. For investment information and
performance data on the Company, please
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
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future success. This news release speaks as of the date first set forth above
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herein for events occurring after the date hereof.
Rainbow Coral Corp.
Kimberly Palmer, 850-269-7230
President and CEO
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