News Column

RBCC 3D Bioprinting Partner Awarded Prestigious Grant for Microgravity Research

May 29, 2014



MIRAMAR BEACH, Fla.--(BUSINESS WIRE)-- The BiO Assay, a 3D Bioprinting technology being promoted around the world by the joint venture of Rainbow Coral Corp. (OTCBB: RBCC) and Nano3D Biosciences (n3D), has been awarded a research grant from the Center for Advancement of Science in Space (CASIS)—the sole manager of the International Space Station U.S. National Laboratory.

CASIS has been tasked by NASA to incite the imagination of entrepreneurs and scientists alike, accelerating and facilitating space-based research by selecting research and funding projects, by connecting investors looking for opportunity to scientists with great ideas, and by making access to the station faster and easier. CASIS has awarded the BiO Assay a grant for the activities associated with n3D’s recent proposal, entitled “Magnetic 3D Cell Culture for Biological Research in Microgravity.”

The BiO Assay is 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. According to n3D’s proposed flight definition study, the magnetic cell culture technology could soon be incorporated into existing space-flight hardware, laying the foundation for 3D bioprinting experiments in the microgravity of outer space.

“This grant is simply further confirmation that the BiO Assay is one of the most important scientific innovations to emerge in recent years,” said RBCC CEO Kimberly Palmer. “We can’t wait to see its potential unlocked in a microgravity environment.”

RBCC formed a biotech subsidiary, Rainbow Biosciences, to market and develop new medical and research technology innovations such as the BiO Assay 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.

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

info@rainbowbiosciences.com

Source: Rainbow Coral Corp.


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Source: Business Wire