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Rainbow Biosciences, a division of Rainbow Coral Corp. (OTCBB: RBCC), announced today that it has begun due diligence toward a potential acquisition or joint venture with n3D Biosciences, Inc., the developers of a revolutionary nanoparticle cell-growth technology.
"This technology could completely revolutionize cell research," said RBCC CEO Patrick Brown. "It's a great leap forward for researchers in fields such as oncology, stem cells, neurological disorders and more. The ability to more closely recreate cells as they appear in the human body will allow cell researchers to better observe and understand cell relationships in a lab setting and potentially achieve more meaningful results."
In addition to changing the possibilities for future cell research, n3D is also fully commercialized. The company has already commenced shipments of some of their product lines to clinical researchers.
"That really stands out from most of the biosciences projects we're looking at," Brown said. "With n3D, we don't have to guess when the first revenues will be realized—We can just look it up. When this acquisition is completed, our role will be to assist n3D in expanding its market and enhancing its sales approach."
For more information on Rainbow BioSciences, RBCC's biotechnology division, please visit www.rainbowbiosciences.com/investors.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Celgene Corp. (NASDAQ: CELG), Amgen, Inc. (NASDAQ: AMGN), Affymax, Inc. (NASDAQ: AFFY), and Gilead Sciences, Inc. (NASDAQ: GILD).
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About Rainbow BioSciences
Rainbow BioSciences is a division 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.
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.
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Rainbow Coral Corp.
President and CEO
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