RBCC Targets Companion Diagnostics Opportunities in Booming $232 Billion Personalized Medicine Market
NOKOMIS, Fla.--(BUSINESS WIRE)-- As Rainbow Coral Corp.’s (OTCBB: RBCC) biotech subsidiary, Rainbow BioSciences, seeks out potentially lucrative new opportunities in the $232 billion personalized medicine market, the company announced today that it will target new innovations in the growing field of companion diagnostics.
The personalized medicine market in the U.S. is ripe for expansion, with PricewaterhouseCoopers predicting that the sector could grow to as much as $452 billion by 2015. One of the fastest-growing fields in the market is companion diagnostics, which could grow to as large as $42 billion by 2015, according to industry analysts TriMarkPublications.com.
The key to that growth will be innovation. Companion diagnostics is the use of genetic variation to chart different patient responses to specific drugs or biologic agents in order to create effective, efficient treatments tailored to a patient’s genetic profile. The emerging field is believed by many medical experts to have an increasingly important role to play in cancer treatments in coming years.
“Companion diagnostics represent the very cutting edge of technology in medicine today,” said RBCC CEO Patrick Brown. “We believe the key to our success is bringing desperately needed new innovations to the market that will improve patient outcomes and reduce healthcare costs. Companion diagnostics offer us the best opportunities to achieve that goal.”
For more information on Rainbow BioSciences’ personalized medicine 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.
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, 850-269-7230
President and CEO
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