MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--Rainbow Biosciences, the biotech subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), announced today that the company’s executive leadership is now pursuing potentially lucrative partnerships with contacts made at last week’s Biotech Showcase in San Francisco.
In order to meet its expansion goals in 2014, RBCC is targeting promising innovations in personalized medicine and targeted drug delivery for marketing and development. Both health sectors are expected by many experts to grow by billions of dollars in the next few years. RBCC is reaching out to emerging industry leaders that company executives met last week regarding development partnerships that could significantly boost the company’s bottom line in the new year.
“We want to partner with developers on the cutting edge of healthcare technology and deliver new breakthroughs to the patients who need them most,” said RBCC CEO Kimberly Palmer. “The companies we are in talks with now are on the verge of breakthroughs that could change what’s possible in personalized medicine.”
One of the driving forces behind this expansion is the inefficient way in which drugs are currently produced. Because insurance companies are highly reluctant to pay for drugs that don’t work, pharmaceutical companies are beginning to use data derived from personalized genome testing to indicate which drugs will work for specific patients—making a stronger case for payer reimbursement.
With analysts across the globe calling regenerative and personalized medicine the future of healthcare, RBCC plans to be well-prepared to capitalize on the growth to come. By acquiring or partnering with up-and-coming regenerative therapy companies, RBCC plans to compete in the biotechnology industry alongside NeoStem, Inc. (NYSE: NBS), Neuralstem, Inc. (NYSE: CUR), Smith & Nephew (NYSE: SNN) and Pharmaceutical Product Development (NASDAQ: PPDI).
For more information on RBCC’s other biotech initiatives, please visit www.rainbowbiosciences.com.
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 www.RainbowBioSciences.com. For investment information and performance data on the Company, please visit www.RainbowBioSciences.com/investors.html.
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