NOKOMIS, Fla.--(BUSINESS WIRE)--All signs point to emerging biotech company Rainbow Coral Corp. (OTCBB:RBCC) finding its feet in biotechnology at exactly the right time: The biotech industry is off to a great start in the early stages of 2012.
The iShares NASDAQ Biotechnology Index, a leading indicator of the industry’s performance, is presently up nearly eight percent month-on-month as the biotech sector continues its enviable recovery from the global economic crisis. According to a recent report from Global Industry Analysts, Inc. (GIA), improving economic conditions have led to an increase in funding for the biotechnology industry.
GIA predicts that the global market for biotechnology will surpass $320 billion by 2015 thanks to increased availability of funding for R&D, expanding use of biotech in agriculture and medicine and favorable government initiatives expected to drive growth. That’s great news for emerging biotech companies such as RBCC.
RBCC is now targeting potential acquisitions on the cutting-edge of biotechnology in order to capitalize on the worldwide boom in demand for biotech.
Through its biotech division, Rainbow BioSciences, RBCC is working to develop new medical and research technology innovations to compete alongside companies such as Cell Therapeutics, Inc. (NASDAQ: CTIC), Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT) and Elan Corp. (NYSE: ELN).
For more information on Rainbow BioSciences’ biotechnology initiative, please visit www.rainbowbiosciences.com/investors.
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.
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.