NOKOMIS, Fla.--(BUSINESS WIRE)-- In a continuing effort to expand its research into possible cures for neurological diseases gaining in prevalence, Rainbow Coral Corp.’s (OTCBB: RBCC) biotech subsidiary, Rainbow Biosciences, is looking to China for possible partners for stem cell research.
Last month, RBCC announced that it was in talks to acquire a license to use a NASA-developed bioreactor to multiply adult stem cells for research. As RBCC closes in on an agreement with the cutting-edge device’s license holders, Amarantus BioSciences (OTCBB: AMBS), China has emerged as a logical location to set up shop conducting medical research using the powerful tool.
With a massive, growing population of senior citizens and a scientific community that is receptive to advanced stem cell research, China could be an ideal choice for RBCC’s work. Seniors are at the highest risk for devastating neurological disorders such as Parkinson’s and Alzheimer’s, and the country’s number of senior citizens will hit 437 million by 2051.
“Right now, all signs point to China as the obvious choice for both our company and our shareholders,” said RBCC CEO Patrick Brown. “The cheaper labor costs there, as well as a receptive market, make China a logical location to search for potential research partners that can utilize the bioassembler technology in a meaningful way.
“There is certainly no space-age technology like the bioassembler available in China today,” he added.
RBCC plans to pursue a license to use the bioreactor for stem cell expansion in China and other markets around the world potentially in excess of $100 billion.
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. (CTIC), Abbott Laboratories (NYSE: ABT) and Affymax, Inc. (NASDAQ: AFFY).
For more information on Rainbow BioSciences, please visit www.rainbowbiosciences.com/investors.
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About Rainbow BioSciences
Rainbow BioSciences is a division 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.
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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.