Rainbow Biosciences, the biotechnology subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), announced today that it will expand its focus on technology capable of culturing 3D cell clusters to include adult stem cells, as well.
According to a report published last year by analysts as GIA, global investments in adult stem-cell research are forecast to reach $2.4 billion by 2015. That growth is being driven by technological advancements, the rising number of research groups engaged in stem cell research activities, broadening research activities and substantial investments from governments in leading global markets.
A rising incidence of life-threatening diseases, un-met needs in the area of medicine, and costs associated with drug development also contribute to the market expansion.
“RBCC aims to help develop and market advanced new technologies capable of growing adult stem cells for research that more closely resemble those found in the body,” said RBCC CEO Patrick Brown. “Demand from the world’s growing elderly population is making continued stem-cell research a necessity, and we intend to position our company and our shareholders to capitalize on that need by providing the best stem-cell technology in the world.”
RBCC plans to develop technology to compete in the stem-cell research industry alongside Amgen, Inc. (NASDAQ:AMGN), Celgene Corporation (NASDAQ:CELG), Genzyme Corp. (NASDAQ:GENZ) and Gilead Sciences Inc. (NASDAQ:GILD).
For more information on Rainbow BioSciences, please visit www.rainbowbiosciences.com/investors.html.
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 our website at [www.RainbowBioSciences.com]. For investment information and performance data on the company, please visit www.RainbowBioSciences.com/investors.html.
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