NOKOMIS, Fla.--(BUSINESS WIRE)--The executive leadership from Rainbow Coral Corp. (OTCBB: RBCC) announced today that in the coming year it will prioritize new partnerships and acquisitions in the rapidly expanding precision medicine industry.
The company is already scheduling important networking events that will feature input from drug and diagnostic innovators, regulators, providers, patient advocates and doctors working to find solutions to the major challenges facing the booming market for precision (or personalized) medicine, which is expected by some analysts to enjoy a compound growth rate of about 9.5 percent through 2017.
One of the fastest-growing fields in the market is companion diagnostics, which could grow to as large as $42 billion by 2015, according to industry analysts TriMarkPublications.com. By delivering new technologies in the sectors of the personalized medicine field poised for the most growth—including companion diagnostics—RBCC hopes to arm patients with more effective and efficient treatment options than ever before.
“The promise of new genome-driven medicines and treatments is going to transform the entire health industry,” said RBCC CEO Patrick Brown. “That’s why we’re focusing so heavily on personalized medicine: we plan to ensure that we’re well-positioned to capitalize on the market revolution now at hand.”
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), Abbott Laboratories (NYSE: ABT) and Amgen Inc. (NASDAQ: AMGN).
For more information on RBCC’s other biotech initiatives, please visit www.rainbowbiosciences.com.
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.
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