RBCC Forms Joint Venture With Cutting-Edge Drug Delivery Company TheraKine
20 March 2013 - 9:00AM
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.
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