RBCC Opens Talks to Acquire Tech Innovators in $142 Billion Drug Delivery Market
NOKOMIS, Fla.--(BUSINESS WIRE)-- As part of the company’s push to carve out a share of the $142 billion U.S. drug delivery market, Rainbow Coral Corp. (OTCBB: RBCC) opened talks this week to potentially partner with an emerging innovator in the transdermal delivery sector.
Transdermal patches are an increasingly popular drug delivery system that is being developed for everything from contraception to Parkinson's disease. Transdermal drug delivery prevents many of the problems associated with oral and intravenous routes and offer major advantages such as improved bioavailability, more uniform plasma levels, longer duration of action, reduced side effects and improved therapy.
Some analysts have predicted that the transdermal delivery market could be worth as much as $31.5 billion by 2015 from a value of $21.5 billion just three years ago. RBCC expects that partnering with an emerging leader in the sector could help the company capture a big piece of that growth.
“Transdermal patches offer a non-invasive option for treating many diseases and disorders,” said RBCC CEO Patrick Brown. “The appeal is obvious. We’re in negotiations now with a patch developer we believe has high profit potential, and we’re optimistic that a deal can be struck soon.”
RBCC formed a biotech subsidiary, Rainbow BioSciences, to market and 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 ) .
For more information on RBCC’s other biotech initiatives, 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 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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