|[July 02, 2014]
RBCC Developing New Tech to Help Prevent Deaths From Prescription Overdoses
MIRAMAR BEACH, Fla. --(Business Wire)--
Work continues on a new injectable, sustained-release technology that
Rainbow Coral Corp. (OTCBB: RBCC) hopes can help prevent a deadly
epidemic of prescription narcotic overdoses.
In a statement to the press reported by Benzinga earlier this
month, National Institute on Drug Abuse (NIDA) Director Nora Volkow said
that opioid-receptor blocker Naltrexone can improve lives and reduce
risks of overdose. Volkow called such medication-assisted therapies
According to NIDA figures, drug overdose deaths in the U.S. are over
30,000 annually. In the past 20 years, overdoses of narcotic pain
relievers have tripled, with an estimated 2.1 million people in the U.S.
abusing opioid pain relievers.
RBCC is working on a new technology to help address the growing problem.
Through its biotech subsidiary, Rainbow Biosciences, the company formed
a joint venture with TheraKine, Ltd., to deliver a new injectable,
sustained-release technology poised to vastly improve patients' use of
Naltrexone. 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 focused on micronization of the technology as well as extension of
its sustained release time.
This summer,RBCC will focus on demonstrating the new technology's
readiness for market as the number of prescriptions rise due to the
Affordable Care Act.
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. (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
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
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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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