MIRAMAR BEACH, Fla. — (BUSINESS WIRE) — January 27, 2014 — As global demand for new innovations in the booming 3D printing industry grows exponentially by the day, Rainbow Coral Corp. (OTCBB: RBCC) is preparing to capitalize with groundbreaking new products for the 3D marketplace.
3D printing is such a hot industry that even top analysts are revising their growth forecasts. Earlier this month, a Credit Suisse research team revised the firm's 2016 projection for the 3D printing market up 357 percent, from $175 million to $800 million. In four years, Wohlers Associates believes that the sale of 3D printing products and services will approach $6 billion worldwide, and $10.8 billion by 2021.
Overlooked market opportunities for emerging 3D printing technology are responsible for the revised projections. One of those overlooked opportunities is 3D bioprinting, a revolutionary newtechnique that involves the printing of cell-loaded replicas of human tissues for the purposes of drug testing and regenerative medicine.
RBCC is working closely with its joint venture partner, Nano3D Biosciences (n3D) to capitalize on the extraordinary demand for new innovations by developing and marketing the BiO Assay, the world’s first commercially available 3D bioprinting system designed for high throughput and high-content drug screening. The automated toxicity assay uses biocompatible magnetic nanoparticles to print cells into 3D structures much faster and more affordably than competing bioprinting tech currently on the market.
The BiO Assay represents a revolution in pharmaceutical research, offering better and faster results than have previously been possible.
RBCC formed a biotech subsidiary, Rainbow Biosciences, to market and develop new medical and research technology innovations to compete alongside companies such as Biogen Idec Inc. (NASDAQ: BIIB), Abbott Laboratories (NYSE: ABT) and Amgen Inc. (NASDAQ: AMGN). In 2012, Rainbow Biosciences acquired an equity interest in n3D.
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.
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.
Rainbow Coral Corp.
Kimberly Palmer, 850-269-7230
President and CEO