NOKOMIS, Fla.--(BUSINESS WIRE)--Nov 19, 2012--As Rainbow Coral Corp. looks ahead to a successful 2013, the company has placed a high priority on initiating projects that will realize profits quickly.
The first project to be fast-tracked will be the company’s joint venture with Amarantus BioSciences (OTCBB: AMBS). Both companies forswear realizing revenues from the impending commercialization of Amarantus’ NuroPro, a sophisticated test developed to more accurately and easily diagnose Parkinson’s disease. NuroPro works by identifying differentiated levels proteins and peptides in the blood of patients who have the disease.
RBCC and Amarantus expect to finalize NuroPro’s development timeline within the next 12-14 months. By cutting the typical timeline from years to only one year, RBCC and its shareholders believe they will see larger profits more quickly from the deal.
The shortened timeline became a possibility last week when Amarantus secured over $1.1 million in funding through two separate transactions. RBCC plans to invest in the ongoing development of NuroPro and to be repaid for its investment out of proceeds from the sales generated by the revolutionary diagnostic blood test.
If milestones are met, RBCC will then share in its revenues sooner than originally anticipated, once the initial investment is repaid.
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.CONTACT: Rainbow Coral Corp.
Patrick Brown, 813-367-9511 President and CEO email@example.com KEYWORD: UNITED STATES NORTH AMERICA FLORIDA INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES RESEARCH SCIENCE GENERAL HEALTH SOURCE: Rainbow BioSciences, LLC Copyright Business Wire 2012 PUB: 11/19/2012 08:50 AM/DISC: 11/19/2012 08:50 AM http://www.businesswire.com/news/home/20121119005820/