RBCC Ready To Sign LOI With Canadian Medical Group

HENDERSON, Nev.--(BUSINESS WIRE)--Biotech company Rainbow Coral Corp. (RBCC) is discussing a letter of intent with a Canadian medical services group that treats alcohol addiction utilizing Naltrexone.

“We are delighted and excited about the potential for good this growing relationship holds, not only for our investors, but for patients too. It falls perfectly into the focus of our important and meaningful research into addiction treatment.”

The group has developed an effective program to help patients overcome their addiction to alcohol. This two-tiered program first employs medical intervention utilizing a proprietary formulation of Naltrexone then shifts to structured, personalized counseling. The medical intervention enables the addicted patient to end their cravings to drink while followup counseling addresses emotional needs.

The group has reported their unique approach has enjoyed unprecedented success helping people defeat their alcohol addiction.

“This group is doing some wonderful work assisting people to get their lives back from alcohol addiction,” said RBCC CEO Kimberly Palmer. “We are delighted and excited about the potential for good this growing relationship holds, not only for our investors, but for patients too. It falls perfectly into the focus of our important and meaningful research into addiction treatment.”

Substance abuse treatment in Canada, such as alcohol addiction, represents a USD 1 billion market, according to industry analysts. Research indicates Canadians are more at risk for alcohol abuse as they drink 50 percent more alcohol than the global average.

The medical group news follows closely behind RBCC’s proposed letter of intent with another company to distribute Naltrexone in Canada. RBCC has been aggressively pursuing business opportunities in Canada in recent months as the northern nation has proven to be a welcoming market for not only Naltrexone, but other RBCC pursuits such as personalized medicine and adult stem cell research as well.

For more information on RBCC’s initiatives, please visit www.rainbowbiosciences.com.

About Rainbow Biosciences

Rainbow Biosciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. (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.

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