NOKOMIS, Fla.--(BUSINESS WIRE)--With innovative drug therapies gaining in popularity, Rainbow BioSciences, LLC, the biotech subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), continues its partnering talks with a transdermal patch company as it readies to take a share of the booming $142 billion U.S. drug delivery market.
Industry insiders forecast the transdermal delivery market could rise as high as $31.5 billion by 2015 and will only continue to grow as it is used for many treatments, including nicotine addiction and Parkinson’s disease.
Transdermal patches have gained in popularity in recent years and offer major advantages to patients. They are easy to use, dispense the medicine gradually and to a designated area, last longer and reduce side effects, among other gains for patients.
“Personalized medicine is the future,” RBCC CEO Patrick Brown said. “This is an incredible breakthrough for any patient who doesn’t want to take pills or is afraid of needles. The transdermal patch empowers the patient to medicate on their schedule. It is perfect for our growing elderly population.”
RBCC has formed a biotech subsidiary, Rainbow BioSciences, to market and develop new medical and research technology innovations to compete alongside companies such as Bristol Myers Squibb Co. (NYSE: BMY), Biogen Idec Inc. (NASDAQ: BIIB), Abbot Laboratories (NYSE: ABT) and Amgen, Inc. (NASDAQ: AMGN).
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, please visit www.RainbowBioSciences.com/investors.html.
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