|By Business Wire||
|April 3, 2014 05:00 AM EDT||
By substantially increasing its investment in biotech innovators Nano3D Biosciences, Rainbow Coral Corp. (OTCBB: RBCC) has positioned itself on the front lines of a bioprinting revolution poised to forever alter the possibilities of healthcare.
Nano 3D Biosciences (n3D) is 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. The automated toxicity assay uses biocompatible magnetic nanoparticles to print cells into 3D structures much faster and more affordably than competing bioprinting technology currently on the market.
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. With a new investment agreement now in place, RBCC could be positioned for major growth as n3D becomes a leading stakeholder in an industry forecast to be worth $10 billion by 2030.
“The BiO Assay is the only system of its kind that is commercially available in the global bioprinting industry,” said RBCC CEO Kimberly Palmer. “It’s one of the most important pieces of technology to emerge in the past decade, and we’re fully committed to its global distribution.”
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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