NOKOMIS, Fla.--(BUSINESS WIRE)--Rainbow Coral Corp. (OTCQB:RBCC) today announced the formation of a new division—Rainbow BioSciences, LLC—to pursue new opportunities in the burgeoning global biotechnology sector.
The biotech industry has made tremendous gains recently, with all biotech ETFs significantly outperforming the S&P 500 over the last five years. The global biotech market, led by the U.S., was worth $84.6 billion in 2010 and is expected by many analysts to grow to $103 billion by 2013.
Biotech companies in the industry's traditional centers of Australia, Canada, Europe and the U.S. had a record-breaking 2010, with a 30-percent net profit increase compared to 2009. RBCC expects that trend to continue: With populations growing and aging rapidly across the developed world, the value of innovative new drugs, diagnostics and medical devices to prevent and treat complex modern diseases more effectively has never been higher.
RBCC’s new biotech division will allow the company to fully leverage its budding relationships with researchers into profitable partnerships in an industry poised for significant growth, says RBCC CEO Patrick Brown.
“The biotech industry delivered solid top-to-bottom growth in 2010, producing record-breaking profits,” he said. “Rainbow BioSciences positions RBCC to do the same.”
The company plans to unveil a new website dedicated to its bioscience development plans later this week. For more information on RBCC’s aggressive growth strategy, please visit http://www.rainbowcoral.com/investors.html.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Alexion Pharmaceuticals Inc. (NASDAQ: ALXN), Amgen Inc. (NASDAQ: AMGN), Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL) and Biogen Idec Inc. (NASDAQ: BIIB).
About Rainbow Coral Corp.
Rainbow Coral Corp. (OTCQB: RBCC) is an emerging technology company focused on breakthrough innovations in the global biotechnology sector and preservation of the world’s most fertile marine ecosystems. RBCC continually seeks out new partnerships with biotechnology developers to deliver profitable new medical solutions and is working to build a sophisticated indoor coral farm to protect endangered reef habitats for research and commercial use. RBCC is an OTCQB publicly traded company. For more information on our growth-oriented business initiatives, please visit our website at [http://www.RainbowCoral.com]. For investment information and performance data on the company, please visit http://www.RainbowCoral.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, 813-367-9511
President and CEO