RBCC and Amarantus BioSciences Outline Terms for NuroPro Parkinson's Blood Test Joint Venture

NOKOMIS, Fla., & SUNNYVALE, Calif.--(BUSINESS WIRE)--

Rainbow BioSciences, the biotech subsidiary of Rainbow Coral Corp. (RBCC), and Amarantus BioSciences, Inc. (AMBS), a biotechnology company developing new disease-modifying treatments and diagnostics for Parkinsons disease and Traumatic Brain Injury, have finalized the framework of their proposed joint venture (JV) and will execute material definitive agreements within 30 days.

The JVs first priority will be to advance Amarantus NuroPro Parkinsons Diagnostic Blood Test (NuroPro) towards commercialization. NuroPro works by identifying differentiated levels proteins and peptides in the blood of patients who have Parkinsons disease, versus those who do not.

Under the terms of the pending agreement, RBCC will invest $150,000 in various funding tranches to re-establish the NuroPro 2D Gel platform and re-analyze samples from the previous Phase 1 clinical trial. Thereafter, the JV will further fund the Phase 2 clinical trial. RBCC will be repaid for their investment out of proceeds from the sales generated by NuroPro and will share revenues once the initial investment is repaid. RBCC has received a commitment from private, outside sources to provide the capital necessary to fund the JV.

NuroPro has completed a Phase 1 human clinical trial, and JV will initiate a Phase 2 clinical study upon successfully repeating the Phase 1. Upon completing Phase 2, RBCC and Amarantus expect NuroPro to begin generating revenue through sales under a Clinical Laboratory Improvement Amendment (CLIA) certification.

Weve identified valuable upside in NuroPro, and we expect this project to begin paying for itself within a short period of time, said Amarantus President & CEO Gerald Commissiong. The ability to advance NuroPro that will simultaneously generate revenue while bolstering our MANF program by allowing our clinical researchers to more efficiently select and monitor Parkinsons patients in our therapeutic program represents a tremendous opportunity. The timing of initiating the JV will allow us to begin moving NuroPro forward in 2013.

The market for Parkinsons could grow to a value of $3.75 billion by 2015, according to a report last year by Visiongain analysts. RBCC expects its deal with Amarantus to help position the company to capitalize on that growth and generate revenue in the near-term.

For more information on Rainbow BioSciences, please visit http://www.rainbowbiosciences.com/investors.html.

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 our website at [http://www.RainbowBioSciences.com]. For investment information and performance data on the company, please visit http://www.RainbowBioSciences.com/investors.html.

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RBCC and Amarantus BioSciences Outline Terms for NuroPro Parkinson's Blood Test Joint Venture