MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--Rainbow Coral Corp. (OTCBB: RBCC) and its joint venture partner, Nano3D Biosciences (n3D) are seeking out new finance partners to market and develop their 3D bioprinting technology worldwide.
The joint venture is working to raise approximately $1-3 million to further market and develop the BiO Assay product line.
Developed by n3D, the BiO Assay is the world’s first commercially available 3D bioprinting system designed for high throughput and high-content drug screening. The automated toxicity assay uses biocompatible magnetic nanoparticles to print cells into 3D structures much faster and more affordably than competing bioprinting tech currently on the market.
The market-ready technology could represent the dawn of a new era in pharmaceutical research, offering better and faster results than have previously been possible. Now, RBCC is seeking out funding from niche investment firms specializing in biotech to give the BiO Assay the sales push it needs to become a market leader.
“We expect this product to generate huge revenues around the globe,” said RBCC CEO Kimberly Palmer. “We’re counting on other investors who feel the same to help us market this amazing device to researchers all over the world.”
RBCC formed a biotech subsidiary, Rainbow Biosciences, to market and develop new medical and research technology innovations to compete alongside companies such as Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT) and Amgen Inc. (NASDAQ: AMGN). In 2012, Rainbow Biosciences acquired an equity interest in n3D.
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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