|[April 09, 2014]
RBCC and n3D Seek Out Additional Capital
MIRAMAR BEACH, Fla. --(Business Wire)--
Rainbow Coral Corp. (OTCBB: RBCC) and its joint venture partner, Nano3D
Biosciences (n3D) are seeking out new finance partners to market and
develop their 3D bioprinting technology worldwide.
The joint venture is working to raise approximately $1-3 million to
further market and develop the BiO Assay product line.
Developed by n3D, the BiO Assay is the world's 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 tech
currently on the market.
The market-ready technology could represent the dawn of a new era in
pharmaceutical research, offering better and faster results than have
previously been possible. Now, RBCC is seeking out funding from niche
investment firms specializing in biotech to give the BiO Assay the sales
push it needs to become a market leader.
"We expect this product to generate huge revenues around the globe,"
said RBCC CEO Kimberly Palmer. "We're counting on other investors who
feel the same to help us market this amazing device to researchers all
over the world."
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
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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