RBCC Forms Joint Venture With Cutting-Edge Drug Delivery Company TheraKine
NOKOMIS, Fla.--(BUSINESS WIRE)-- As part of a bold expansion into the $60 billion global drug delivery market, Rainbow BioSciences, the biotech division of Rainbow Coral Corp. (OTCBB: RBCC), today announced it has formed a new partnership to solve the problems posed by systemic drug delivery.
RBCC signed a joint venture agreement with TheraKine Ltd., the developer of a revolutionary, sustained-release drug delivery platform that could soon make local delivery of biologic agents and small molecules safer, more effective and more convenient than ever before. The company has developed and patented these novel, tunable technologies with the potential to enable selective, site-specific drug delivery, allowing for lower drug concentrations and significantly reducing the risk of drug toxicity.
Additionally, this new sustained-release technology can also extend the patent life cycles of drugs, giving potential pharmaceutical partners a tremendous market advantage.
“TheraKine’s sustained-release delivery system could allow patients who now need daily injections to instead have one injection every four to six months,” said RBCC CEO Patrick Brown. “We expect the demand for this product to be very high once it’s made available, and RBCC plans to take a real stake in its success.”
Stan Yakatan, TheraKine's CEO, said, "TheraKine is excited about the opportunity to partner with Rainbow to repurpose drugs with our sustained release technologies."
RBCC is dedicated to delivering new medical research and technologies to a hungry global marketplace. For more information on RBCC’s initiatives, please visit www.rainbowbiosciences.com/investors.html.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Bristol Myers Squibb Co. (NYSE: BMY ) , Biogen Idec Inc. (Nasdaq: BIIB ) , Abbott Laboratories (NYSE: ABT ) and Amgen Inc. (Nasdaq: AMGN ) .
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 visit www.RainbowBioSciences.com/investors.html.
About TheraKine Ltd.
TheraKine Ltd. is a privately held platform technology company with laboratories in Berlin (Germany). TheraKine provides innovative reformulation to enable sustained release for pharmaceutical and biological companies worldwide.
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.
Rainbow Coral Corp.
Patrick Brown, 813-367-9511
President and CEO
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