|[December 12, 2013]
RBCC and Therakine Initiate Phase II of Drug Delivery Development
MIRAMAR BEACH, Fla. --(Business Wire)--
Rainbow Coral Corp. (OTCBB: RBCC) and its joint venture partner,
Therakine, Ltd., are pleased to announce that they have reached a major
new milestone in the development of a revolutionary new drug delivery
technology. This week, the companies reached terms to initiate Phase II
of research and analysis on a new injectable, sustained-release
technology poised to vastly improve patients' use of a crucial drug in
the fight against drug and alcohol dependence.
Naltrexone is a prescription opioid receptor antagonist used primarily
in the management of alcohol and opioid dependence. Phase I of the joint
venture's research established excellent compatibility between the drug
and Therakine's hydrophobic injection matrix as well as a highly
promising release profile. Phase II will focus on micronization of the
technology as well as extension of its sustained release time.
RBCC has big plans for the breakthrough technology in 2014. If Phase II
of research goes as well as Phase I did, the joint venture could soon
supply the only intramuscular, programmable release of Naltrexone
available anywhere in the $142.5 billion drug delivery industry.
"We believe this sustained-release tech is going to forever change the
way addiction is treated around the globe," said new RBCC CEO Kimberly
Palmer. "We're already in talks with Therakine about potentially
acquiring an exclusive, international distribution license for this
product. We're expecting next year to be tremendously fruitful for our
company and our investors."
RBCC's biotech division, Rainbow BioSciences, is working with partners
such as Therakine to capitalize on the incredible growth of the global
drug delivery market by delivering new medical and research technology
innovations in order to compete alongside companies such as Bristol
Myers Squibb Co. (NYSE: BMY), Biogen Idec Inc. (NASDAQ: BIIB), Abbott
Laboratories (NYSE: ABT) and Valeant Pharmaceuticals International
For more information on RBCC's other biotech initiatives, please visit www.rainbowbiosciences.com.
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.
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
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and the Company assumes no responsibility to update the information
included herein for events occurring after the date hereof.
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