HENDERSON, Nev.--(BUSINESS WIRE)--A record amount of venture capital is flowing into the U.S. healthcare system. Rainbow Coral Corp. (OTCQB: RBCC) sees this influx as reaffirming its forward-looking personalized medicine strategy and plans to go after additional seed money to expand its market presence.
More than $21 billion of venture capital ($4 billion in Series A) has been earmarked for domestic companies, including money from heavyweight investors normally not active in the sector. Healthcare has suddenly become a hot market for venture capitalists, outstripping even information technology in recent years.
“Right now, the biggest, most profitable opportunities are in healthcare,” said RBCC CEO Kimberly Palmer. “Personalized medicine promises better treatment results tailored to a patient’s own unique genetic profile. And while one-in-ten Americans have been addicted to or abused drugs, the market for anti-addiction treatments is growing. Additional venture capital would help us advance our work on these fronts and offer the investor a potentially lucrative payoff down the road as we build markets and revenues.”
Analysts estimate the U.S. personalized medicine market will more than double over the next seven years, reaching nearly $2.5 trillion by 2022. The personalized medicine market is expected to increase at a 12 percent compound annual growth rate during that period.
Through its biotech subsidiary, Rainbow Biosciences, RBCC seeks to develop and market new medical technology to compete alongside companies such as Biogen Idec Inc. (BIIB), Abbott Laboratories (ABT) and Amgen Inc. (AMGN).
For more information on RBCC’s 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. 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.