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Projected Growth in $3 Billion Parkinson’s Treatment Market Gives RBCC a Bright Outlook
NOKOMIS, Fla., Sep 11, 2012 (BUSINESS WIRE) — The market for effective new treatments for Parkinson’s disease and other degenerative neurological disorders is strong and projected to grow sharply in coming years. That’s good news for Rainbow Coral Corp.’s (OTCBB: RBCC) biotech subsidiary, Rainbow Biosciences, as it closes in on a deal with Amarantus Biosciences, Inc. (OTCBB: AMBS)Projected Growth in $3 Billion Parkinson’s Treatment Market Gives RBCC a Bright Outlook
The increasing market potential for Parkinson’s therapies is what initially attracted RBCC’s attention to Amarantus’ work. The Parkinson’s Disease Foundation estimates that as many as one million Americans suffer from Parkinson’s disease, and 60,000 new patients are diagnosed each year. Medication costs per person are believed to be around $2,500 each year and the total economic impact is estimated to be around $25 billion in the U.S. alone.
Most encouraging of all, the market for Parkinson’s drugs could grow to a value of $3.75 billion by 2015, according to a report last year by Visiongain.
Growth in the Parkinson’s treatment market is being driven by new breakthroughs, and RBCC is working to help advance the timeline for a cure for the debilitating disease. RBCC is currently negotiating a potential definitive agreement with Amarantus, a company that could be on the verge of promising new diagnostic and therapeutic tools for Parkinson’s patients and their doctors.
Amarantus owns the rights to a promising therapeutic protein known as MANF that prevents a type of cell death called apoptosis that could be the beginning of a cure for the disease. The company also owns the license to a groundbreaking diagnostic platform called NuroPro for Parkinson’s that allows neurologists to accurately diagnose and track the progression of Parkinson’s disease in patients. This groundbreaking test could potentially be on market in certain regions as early as 2013.
For more information on RBCC’s biotechnology initiatives, please visit www.rainbowbiosciences.com/investors.html.
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 our website at [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.
SOURCE: Rainbow Coral Corp.
CONTACT:
Rainbow Coral Corp. Patrick Brown, 813-367-9511 President and CEO info@rainbowcoral.com
Copyright Business Wire 2012
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KEYWORD: United States
North America
Florida
INDUSTRY KEYWORD: Health
Biotechnology
Mental Health
Pharmaceutical
Professional Services
Finance
Research
Science
Managed Care
SUBJECT CODE: Contract/Agreement
Product/Service
