MIRAMAR BEACH, Fla. — (BUSINESS WIRE) — January 16, 2014 — Thanks to new technology innovations pioneered by its partners at Nano3D Biosciences (n3D), Rainbow Coral Corp. (OTCBB: RBCC) is planning a major push into the skyrocketing 3D bioprinting market in 2014.
Rising global demand in the medical industry for new and effective technologies has spurred tremendous interest in applying 3D printing methods to healthcare applications. The next wave of breakthroughs is now occurring in the field of bioprinting, which involves the printing of cell-loaded replicas of human tissues for the purposes of drug testing and regenerative medicine.
With the applications of such cutting-edge technology limited only by the imagination, industry analysts Transparency Market Research predicted last year that the medical 3D printing market will enjoy a compound annual growth rate of 15.4 percent over the next six years, expanding from a value of $345 million in 2012 to nearly a billion dollars in 2019.
RBCC is working closely with n3D to capitalize on this extraordinary growth. The companies are currently engaged in developing and marketing the BiO Assay: the first commercially available 3D bioprinting system designed for high throughput and high-content drug screening. The automated toxicity assay uses biocompatible magnetic nanoparticles to print cells into 3D structures much faster and more affordably than competing bioprinting tech made by competitors in the marketplace.
The BiO Assay represents a revolution in pharmaceutical research, offering better and faster results than have previously been possible.
RBCC formed a biotech subsidiary, Rainbow Biosciences, to market and develop new medical and research technology innovations to compete alongside companies such as Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT) and Amgen Inc. (NASDAQ: AMGN). In 2012, Rainbow Biosciences acquired an equity interest in n3D.
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.
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.
Kimberly Palmer, 850-269-7230
President and CEO