Rainbow Coral, through its wholly-owned subsidiary Rainbow BioSciences LLC, seeks out partnerships with biotechnology firms to deliver profitable new medical technologies and innovations. The current area of focus for the company is Parkinson's disease, where it has tried to establish beneficial partnerships.
According to The Parkinson's Disease Foundation, as many as one million Americans suffer from Parkinson's and 60,000 new patients are diagnosed each year with the disease. Researchers believe that Parkinson's disease is caused by the destruction of cells in various parts of the brain, including the substantia nigra, where dopamine is produced. Without dopamine, the brain cannot properly transmit signals that allow for coordinated movements.
Parkinson's typically occurs in older people, and as the world's population ages, so does the incidence of the disease. To combat Parkinson's, more than 150 drugs (mostly in the pre-clinical stage) are in the pipeline worldwide. The market for these new drugs, according to Visiongain, could grow to a value of $3.75 billion over the next three years.
Rainbow BioSciences is nearing the completion of a ground-breaking joint venture agreement with Amarantus BioSciences (OTCBB: AMBS) to become a player in that market. The two companies plan to collaborate to deliver NuroPro, a revolutionary early-detection diagnostic blood test that could soon prove key to successfully treating Parkinson's and other neurological diseases. The PD application of this diagnostic has completed proof-of-concept and Phase 1 clinical validation studies.
For further information about Rainbow BioSciences and its joint venture with Amarantus BioSciences, please visit the company's website at rainbowbiosciences.com
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