Monday, 09 May 2016 10:04 AM
HENDERSON, NV / ACCESSWIRE / May 9, 2016 / Personalized (or precision) medicine continues a surge that shows no signs of stopping, and according to an independent research report the total market could top $88 billion within six years. The glowing report comes as welcome news for Rainbow Coral Corp. (OTCQB: RBCC), which has been active on several personalized medicine fronts recently, and bolsters the company's ambitions to someday be a leader in the field.
The Global Precision Medicine Market -- Estimation & Forecast (2015-2022) report by independent analysts Research and Markets gives several encouraging reasons for the predicted growth. Chief among these are the U.S. government's recently announced Precision Medicine Initiative, a $250 million program aimed at spurring development of personalized, genetics-based medical treatments. When announcing the bold, forward-looking initiative, President Obama called personalized medicine, "One of the greatest opportunities for new medical breakthroughs that we have ever seen."
Advancing technology is also driving the field's rapid growth, making treatments more widespread and affordable. The forecast cites the public's growing acceptance and increased desire for personalized medical treatments as yet another strong predictor of future growth.
"The public likes personalized medicine's adaptability and targeted approach geared specifically towards their unique medical needs," said RBCC CEO Kimberly Palmer. "One-size-fits-all medicine is quickly going the way of the dinosaur. Precision treatments offer the promise of more accurate medicine, and in our view, that's good not only for the patient, but for the doctor and ultimately, the investor. That’s why we believe personalized medicine is a market worthy of pursuit and why we are concentrating on a number of initiatives we are confident will make us a key player."
RBCC has been busy on several personalized medicine fronts, particularly in Canada. There the company is pursuing the marketing of cutting-edge treatments utilizing adult stem cells. RBCC is also targeting pharmaceutical compounding opportunities.
The tide is turning for pharmaceutical and biotech stocks, which could indicate good times ahead for the sector and for companies like RBCC. Industry giant Pfizer reported much stronger than estimated results earlier this month, up 20 percent. Amgen also reported better than expected earnings. On the product side, Biogen and its partner AbbVie received good news on a new drug they plan to introduce, which was recently cleared by the influential Committee for Medicinal Products for Human Use (CMHP). Approval here could open the door for other new drugs and treatments, which might have an overall positive impact on other companies in the industry.
For more information on RBCC's initiatives, please visit www.rainbowbiocorp.com.
About Rainbow Biosciences
Rainbow Biosciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. (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.rainbowbiocorp.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.
Contact:
Rainbow Coral Corp.
Kimberly Palmer, 702-940-2345
President and CEO
[email protected]
SOURCE: Rainbow Coral Corp.