MIRAMAR BEACH, Fla.--(BUSINESS WIRE)--
Rainbow Coral Corp. (OTCBB:RBCC) received a boost recently when
researchers reported that a medication that could help tens of thousands
of alcoholics quit drinking are underused.
According to the high-profile findings, which were reported by the New
York Times, the prescription drug Naltrexone can help reduce
cravings for alcohol by fine-tuning the brain's chemical rewards system.
A lack of awareness among doctors as well as other factors have resulted
in the drug's being underused, researchers reported earlier this month.
Because the Affordable Care Act requires insurers to provide coverage
for substance abuse treatments and services, many addiction specialists
expect to see increases this year in the number of people seeking
medical help for alcoholism.
That's good news for RBCC. The company formed a joint venture with TheraKine,
Ltd., to deliver a new injectable, sustained-release technology
poised to vastly improve patients' use of Naltrexone. Phase I of the
joint venture's research established excellent compatibility between the
drug and TheraKine's hydrophobic injection matrix, as well as a highly
promising release profile. Phase II focused on micronization of the
technology as well as extension of its sustained release time.
This summer, RBCC will focus on demonstrating the new technology's
readiness for market with the number of prescriptions for alcoholism
predicted to rise.
RBCC's biotech division, Rainbow BioSciences, is working with partners
such as TheraKine to capitalize on the incredible growth of the global
drug delivery market by delivering new medical and research technology
innovations in order to compete alongside companies such as Bristol
Myers Squibb Co. (NYSE:BMY), Biogen Idec Inc. (NASDAQ:BIIB), Abbott
Laboratories (NYSE:ABT) and Valeant Pharmaceuticals International
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.
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.
Source: Rainbow Coral Corp.