HENDERSON, Nev.--(BUSINESS WIRE)--Rainbow Coral Corp. (OTCQB: RBCC) intends to make 2016 a year where a sizable dent is finally made in the ongoing crisis concerning the alarming rate of opioid overdose deaths in the U.S. The company has already begun a search for partners and a location to open an inclusive, low-cost opioid addiction treatment center, and RBCC continues to explore options to obtain additional capital to fund such centers and other important anti-addiction research.
Health statistics paint a gloomy portrait of the current situation. One report indicates overdose deaths from opioid prescription painkillers rising steadily over the past 16 years. Despite a strong recent upsurge in heroin overdoses, deaths from legal opioids still far outnumber those of illegal heroin. And many researchers believe the heroin overdose increase is a direct result of opioid abusers graduating to a more powerful drug, as both substances affect the human brain in similar fashions.
“These are staggering statistics,” said RBCC CEO Kimberly Palmer. “So we’re redoubling our efforts towards the treatment centers and getting venture capital. If we can lower the tragic rate of opioid overdoses, we can also very likely cut the number of heroin overdose deaths as well. With the right partners and sufficient funding, we can and will make a difference that just isn’t being made today. RBCC is now developing plans that will put us at the forefront of the solution.”
Through its biotech subsidiary, Rainbow Biosciences, RBCC markets and develops new medical and research technology innovations 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.