MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--Biotech company Rainbow Coral Corp. (RBCC) is drawing closer to a milestone agreement with a partner company to distribute Naltrexone – an important prescription drug used in treatment of alcohol and opiate addiction – in Canada. When reached and implemented, the agreement will open a crucial new revenue stream for RBCC as the FDA-approved drug’s previous success has resulted in increased demand for effective new Naltrexone treatments from a wide spectrum of patients.
“This agreement will be a red-letter event for RBCC and for Canadian patients seeking needed addiction relief”
“This agreement will be a red-letter event for RBCC and for Canadian patients seeking needed addiction relief,” said RBCC CEO Kimberly Palmer. “We’ve worked hard to make Naltrexone more effective than ever and this distribution partnership will be a rewarding and welcome result of those efforts. We expect both the drug and the partnership to be a great success, not only for patients, but for our company and its revenue prospects as well.”
In addition, RBCC has opened discussions with a company that has developed a cutting-edge application for Naltrexone that can last up to 12 months. A key benefit of this application is that it will enable patients to overcome compliance problems, such as forgetting to take a dose on time.
This latest news continues RBCC’s aggressive and sustained push to expand the uses and distribution for Naltrexone. It is also part of the company’s continued pursuit of personalized medical opportunities in Canada. The country has been encouraging and attracting new initiatives and investments with regulations that promote development.
RBCC is dedicated to delivering advanced medical research and technologies to a booming global health marketplace, predicted to be worth $224 billion by 2017. 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.
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.
Contacts
Rainbow Coral Corp.
Kimberly Palmer, 850-269-7230
President and CEO
info@rainbowcoral.com
Help employers find you! Check out all the jobs and post your resume.
