Rainbow Coral Corp. (OTCQB:RBCC) today announced the formation of a new division—Rainbow BioSciences, LLC—to pursue new opportunities in the burgeoning global biotechnology sector.
The biotech industry has made tremendous gains recently, with all biotech ETFs significantly outperforming the S&P 500 over the last five years. The global biotech market, led by the U.S., was worth $84.6 billion in 2010 and is expected by many analysts to grow to $103 billion by 2013.
Biotech companies in the industry's traditional centers of Australia, Canada, Europe and the U.S. had a record-breaking 2010, with a 30-percent net profit increase compared to 2009. RBCC expects that trend to continue: With populations growing and aging rapidly across the developed world, the value of innovative new drugs, diagnostics and medical devices to prevent and treat complex modern diseases more effectively has never been higher.
RBCC’s new biotech division will allow the company to fully leverage its budding relationships with researchers into profitable partnerships in an industry poised for significant growth, says RBCC CEO Patrick Brown.
“The biotech industry delivered solid top-to-bottom growth in 2010, producing record-breaking profits,” he said. “Rainbow BioSciences positions RBCC to do the same.”
The company plans to unveil a new website dedicated to its bioscience development plans later this week. For more information on RBCC’s aggressive growth strategy, please visit http://www.rainbowcoral.com/investors.html.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Alexion Pharmaceuticals Inc. (NASDAQ: ALXN), Amgen Inc. (NASDAQ: AMGN), Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL) and Biogen Idec Inc. (NASDAQ: BIIB).
About Rainbow Coral Corp.
Rainbow Coral Corp. (OTCQB: RBCC) is an emerging technology company focused on breakthrough innovations in the global biotechnology sector and preservation of the world’s most fertile marine ecosystems. RBCC continually seeks out new partnerships with biotechnology developers to deliver profitable new medical solutions and is working to build a sophisticated indoor coral farm to protect endangered reef habitats for research and commercial use. RBCC is an OTCQB publicly traded company. For more information on our growth-oriented business initiatives, please visit our website at [http://www.RainbowCoral.com]. For investment information and performance data on the company, please visit http://www.RainbowCoral.com/investors.html.
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