Rainbow BioSciences, LLC, the biotech subsidiary of Rainbow Coral Corporation (OTC:RBCC), declared today that its current joint venture target, Amarantus BioSciences, Inc., has attained positive results in a pre-clinical experiment representing the potential of its new Parkinson’s disease therapy presently in development.
Amarantus is the developer of MANF, a first-in-class, disease-modifying therapeutic protein that addresses a fundamental form of cell death called apoptosis. The experiments carried out prior year were funded by a grant from the Michael J. Fox Foundation, and the results demonstrated that MANF considerably reduces the behavioral deficits caused by the neurotoxin 6-OHDA in a usual animal model of Parkinson’s disease.
These results are even more important for the reason that they illustrated that MANF compares positively with a competing disease-modifying treatment known as GDNF; a protein Amgen formerly spent over $200M developing currently entering Phase 2 clinical trials at Medgenesis Therapeutix.
MANF has a mechanism of action that could have an influence on a larger population of Parkinson’s patients than GDNF. Furthermore, the amount of money that will be required for MANF’s development will be considerably less than has been spent on GDNF to date. This is mainly because Amarantus has been capable to learn from GDNF’s development travails.
Its shares dropped -2.78% to close at $0.350 with the total traded volume of 0.10 million shares having the average volume of 0.11 million.
Its shares were trading within the range of $0.31-$0.40 while its opening price was $0.40. Its market capitalization is $3.96 million. Its stock price 52 weeks low was $0.07 and 52 weeks high price was $3.30.
Rainbow BioSciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. 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 www.RainbowBioSciences.com. For investment information and performance data on the company, please visit www.RainbowBioSciences.com/investors.html.
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