|By Business Wire||
|March 25, 2014 10:18 AM EDT||
As demand for new cellular research innovations continues to soar worldwide, Rainbow Biosciences, the biotechnology division of Rainbow Coral Corp. (OTCBB: RBCC), is increasing its investment in the marketing and development of a breakthrough 3D bioprinting technology.
The company announced today that it is in final negotiations to further its involvement in Nano 3D Biosciences (n3D), a cutting-edge technology company drawing international interest with its revolutionary BiO Assay, the first commercially available 3D bioprinting system designed for high throughput and high-content drug screening.
RBCC took an equity interest in n3D in 2012, not long after the companies formed a joint venture to market and develop new technologies for the fast-growing, global biotechnology marketplace. Now, the company plans to double down on that investment position as n3D becomes a leading stakeholder in an industry forecast to be worth $10 billion by 2030.
“We’re proud of our partnership with n3D, and we look forward to helping deliver the amazing potential of the BiO Assay to researchers all over the world,” said RBCC CEO Kimberly Palmer.
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.
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.
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