RBCC: Michael J. Fox Foundation Invests $179 Million in the Fight Against Parkinson’s Disease
Published on Monday, 26 March 2012 05:06 Written by TradersHuddle StaffNOKOMIS, Fla.-( Business Wire )-
Parkinson’s disease is the core focus of the The Michael J. Fox Foundation. Rainbow BioSciences (OTCBB: RBCC) intends to join the Foundation in the fight against Parkinson’s disease when it signs a letter of intent with an advanced therapy developer within the next few days, and with good reason: There could be 12 million people suffering from the disease by 2032.
Thanks in no small part to the high profile of its A-list namesake, the Michael J. Fox Foundation has over the past 12 years become the largest private funder of Parkinson's disease research in the world, investing nearly $179 million in research to date. Through its aggressive outreach work, the Foundation has realized unprecedented success in raising awareness of the disease and its effects around the world.
Though the global market for Parkinson’s treatments is $3 billion and growing, there are currently no drugs or therapies available that are capable of stopping or slowing the disease’s progression. With RBCC’s focus on this devastating disease, effective new emerging therapies are on the horizon.
For more information on Rainbow BioSciences, RBCC’s biotechnology division, please visit www.rainbowbiosciences.com/investors.
Rainbow BioSciences will 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).
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.
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