MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--As Rainbow Coral Corp. (OTCBB: RBCC) works to deliver a new injectable, sustained-release technology poised to vastly improve patients' use of Naltrexone, new research into the drug’s potential could soon dramatically expand the drug’s market and usage.
Naltrexone has been approved by the FDA for use in combatting alcohol and heroin addiction by fine-tuning the brain’s chemical rewards system to help reduce cravings. But new research into the drug’s properties has revealed promising applications for the treatment of autoimmune diseases and chronic pain.
Last month, researchers at Pennsylvania State University, Hershey, showed that the opioid-receptor antagonist modifies established disease in a mouse model of relapsing-remitting multiple sclerosis. Preliminary studies have also suggested that Naltrexone may be an effective treatment for patients with fibromyalgia, Crohn’s Disease, lupus, rheumatoid arthritis and other illnesses, as well.
As the usefulness of the drug is carefully reexamined in the treatment of a number of diseases, RBCC is working to make Naltrexone easier to administer effectively than ever before. The company formed a joint venture with TheraKine, Ltd., to develop a sustained-release technology poised to vastly improve patients' use of Naltrexone. Phase I of the joint venture's research established excellent compatibility between the drug and TheraKine's hydrophobic injection matrix, as well as a highly promising release profile. Phase II focused on micronization of the technology as well as extension of its sustained release time.
This summer, RBCC will focus on demonstrating the new technology’s readiness for market.
RBCC's biotech division, Rainbow BioSciences, is working with partners such as TheraKine to capitalize on the incredible growth of the global drug delivery market by delivering new medical and research technology innovations in order to compete alongside companies such as Bristol Myers Squibb Co. (BMY), Biogen Idec Inc. (BIIB), Abbott Laboratories (ABT) and Valeant Pharmaceuticals International (VRX).
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. (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.
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.