NOKOMIS, Fla.--(BUSINESS WIRE)-- As Rainbow Coral Corp.’s (OTCBB:RBCC) biotech subsidiary, Rainbow BioSciences, nears a deal with Amarantus BioSciences (OTCBB: AMBS), the Alzheimer’s epidemic is already drawing $100 million worth of disease research from big drug companies.
A $100 million drug trial will begin next year in the isolated villages of Antioquia, Columbia, where a genetic mutation in the community’s blood line has led to a higher concentration of Alzheimer’s sufferers than anywhere else in the world. About 5,000 residents of the area now form the biggest and best pool of potential Alzheimer’s patients anywhere—a solid trial group for drug companies working on a cure.
“This massive research expenditure in Columbia just goes to show how desperate the world is for a cure to this disease,” said RBCC CEO Patrick Brown. “There is a huge a market developing around the globe for effective new Alzheimer’s treatments, and we’re working very hard to capitalize on that demand.”
Last week, RBCC prepared a term sheet for presentation to Amarantus, a clinical-stage company developing therapeutics designed to reverse cell death caused by Parkinson’s disease. Alzheimer’s, which is much more common, also results from neuronal proteins. Therefore, it is believed that the same treatment could prove beneficial to these patients thereby vastly increasing the market for the therapy.
For more information on Rainbow BioSciences’ neurological treatment initiatives, please visit www.rainbowbiosciences.com/investors.html.
Rainbow BioSciences 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), Abbott Laboratories (NYSE: ABT) and Affymax, Inc. (NASDAQ: AFFY).
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 www.RainbowBioSciences.com/investors.html.
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
Source: Rainbow Coral Corp.