NOKOMIS, Fla.--(BUSINESS WIRE)--

Rainbow BioSciences, the biotech division of Rainbow Coral Corp. (RBCC), today announced that it is wrapping up negotiations toward a definitive agreement with a leading, Texas-based genetic testing laboratory.

The genetic testing sector is one of the fastest-growing segments of the global biotech industry, with some market experts expecting it to reach $2.2 billion by 2017. RBCC is nearing a deal with a company that specializes in the cutting-edge science of pharmacogenomics, a field of study resulting from the Human Genome Project that seeks to help doctors assess genetic variations in patients in order to create more effective, optimized drug treatment plans.

Pharmacogenomics could be the key to truly personalized medicine, which RBCC views as the future of healthcare.

For more information on Rainbow BioSciences personalized medicine initiatives, please visitwww.rainbowbiosciences.com/investors.html.

Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Bristol Myers Squibb Co. (NYSE:BMY),Biogen Idec Inc. (NASDAQ:BIIB), Abbott Laboratories (NYSE:ABT) and Amgen Inc. (NASDAQ:AMGN).

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 visitwww.RainbowBioSciences.com. For investment information and performance data on the Company, please visitwww.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.

More here:
RBCC Nears Deal With Leading Genetic Testing Lab

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