NOKOMIS, Fla.--(BUSINESS WIRE)--The City of Houston, Texas, exhibits a number of advantages that can help Rainbow BioSciences, LLC (OTCBB: RBCC), move forward with its new biotechnology initiatives. Most importantly, it’s home to the Texas Medical Center, the world’s largest medical complex. In order to best position its biotech division for success, RBCC has targeted Houston as the location for its new BioSciences headquarters.
“Much like the living organisms that we study, biotechnology companies can only grow and thrive in the proper environment,” said RBCC CEO Patrick Brown. “We believe we’ve located the ideal petri dish to house our new biotech division in Houston, Texas.”
The region’s universities capture more than $1.8 billion annually in support of academic research and development. These resources, combined with the city’s business-friendly climate, make Houston a fantastic incubator for emerging biotechnology companies.”
Houston is home to more than 160 biotechnology companies, and lawmakers there have made aggressive efforts to establish the city’s competitive edge in attracting new biotech business. Since 2005, the Texas Emerging Technology Fund has allocated more than $197.2 million in funding to 133 early-stage companies. Additionally, non-profit organizations such as BioHouston function as matchmakers between innovators and business capital.
RBCC BioSciences was formed to allow the company to leverage its relationships with medical researchers into profitable development partnerships in an industry poised for significant growth.
“We’re looking to grow and develop our biotech division very rapidly,” Brown said. “The opportunities in Houston to develop new partnerships and ideas are unparalleled in the Southern U.S. for this sector.”
RBCC expects to announce a new home for its biotech division within weeks, Brown added.
For more information on RBCC’s biotechnology initiative, please visit http://www.rainbowbiosciences.com/investors.html.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Celgene Corp. (NASDAQ: CELG), Cardinal Health, Inc. (NYSE: CAH), Abbott Laboratories (NYSE: ABT) and Affymax, Inc. (NASDAQ: AFFY).
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.
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