RBCC JV Target Amarantus Presents Parkinson's Therapeutic at CNS Summit
NOKOMIS, Fla.--(BUSINESS WIRE)--Nov 29, 2012 - As Rainbow Coral Corp. (OTCBB: RBCC) nears a new joint venture agreement to commercialize advances made by Amarantus BioSciences (OTCBB: AMBS), the company's latest target continues to seek out additional investment capital from high-profile investors.
Amarantus Chief Science Officer John W. Commissiong recently presented his organization's brilliant MANF therapeutic protein for Parkinson's disease at the Scientific Session of CNS Summit 2012 in Boca Raton. The CNS Summit brings together researchers, developers and investors to collaborate in bringing new treatments to patients suffering from brain disorders.
The high-profile event put Amarantus' proprietary, anti-apoptosis therapeutic protein in the spotlight in front of researchers and investors from around the world.
“We continue to be very impressed with Amarantus' outreach efforts toward potential investors and clients alike,” said RBCC CEO Patrick Brown. “We look forward to wrapping up our joint venture agreement shortly, and then our first priority will be moving their groundbreaking therapeutics forward toward full commercialization.”
Both companies forswear realizing revenues from the impending commercialization of Amarantus' NuroPro, a sophisticated test developed to more accurately and easily diagnose Parkinson's disease. By cutting the typical timeline from years to only one year, RBCC and its shareholders believe they will see larger profits more quickly from the deal. Next in line for commercialization will be MANF.
For more information on Rainbow BioSciences' neurological treatment initiatives, please visit www.rainbowbiosciences.com/investors.html.
Rainbow BioSciences is dedicated to developing new medical and research technology innovations to compete alongside companies such as Amgen Inc. (NASDAQ: AMGN), Cell Therapeutics, Inc. (NASDAQ: CTIC), Abbott Laboratories (NYSE: ABT) and Affymax, Inc. (NASDAQ: AFFY).
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.
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.
Contact: Rainbow Coral Corp.
Patrick Brown, 813-367-9511
President and CEO
Posted: November 2012