NOKOMIS, Fla.--(BUSINESS WIRE)-- The awarding of the Nobel Prize this week to two scientists who have revolutionized stem cell research could lead to an influx of investment capital into the industry, said Rainbow Coral Corp. (OTCBB: RBCC) CEO Patrick Brown on Wednesday.
Japan’s Shinya Yamanaka and Britain's John Gurdon were jointly awarded the medicine prize for proving that adult cells can be regressed back into stem cells, creating cells known as induced pluripotent stem cells (iPS) that allow for stem-cell research that doesn’t necessitate the destruction of a fetus.
“The tremendous recognition of this groundbreaking research that the Nobel Prize brings could spark a host of medical breakthroughs, investment interest and business developments in the stem cell field,” Brown said. “It’s a very exciting time to be part of a young company striving to grow alongside this explosive industry.”
Wire service AFP reported this week that Yamanaka will likely get up to 30 billion yen ($383 million) for his stem cell research over the next decade. RBCC is currently working to help speed up the research of Yamanaka and others into potential cures for deadly diseases by commercializing the use of a groundbreaking new technology in select markets around the world. The company has engaged Regenetech in discussions regarding the potential acquisition of a license to perform cell expansion using that company’s Rotary Cell Culture SystemTM.
RBCC plans to offer the new technology to help kickstart billions of dollars worth of research in an industry currently dominated by Amgen, Inc. (NASDAQ: AMGN), Celgene Corporation (NASDAQ: CELG), Genzyme Corp. (NASDAQ: GENZ) and Gilead Sciences Inc. (NASDAQ: GILD).
For more information on Rainbow BioSciences, please visit www.rainbowbiosciences.com/investors.html.
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 [http://www.RainbowBioSciences.com]. For investment information and performance data on the company, please visit www.RainbowBioSciences.com/investors.html.
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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.