Rainbow Coral Corp. (OTCBB: RBCC) has formed a biotechnology division, Rainbow Biosciences, to market and develop new medical and research technologies to suit the growing need of pharmaceutical companies.
RBCC took an equity interest in Nano3D Biosciences (n3D) in 2012, not long after the companies formed a joint venture in the global biotechnology marketplace. As demand for new cellular research innovations continues to grow, Rainbow Biosciences is increasing its investment in 3D bioprinting technology.
The 3D BiO Assay is the first commercially available 3D bioprinting system designed specifically for quick, high-volume drug screening. Its automated toxicity assay uses biocompatible magnetic nanoparticles to print cells into 3D structures much faster and more affordably than the competing bioprinting technologies currently on the market.
A new research publication, 3D Bioprinting Market, 2014-2030 by Roots Analysis, lists n3D as a leading stakeholder in an industry forecasted to be worth $10 billion by 2030. The major consumers for these bioprinters are universities and research institutes, which use them for breakthrough research and production.
RBCC and n3D are currently seeking out new finance partners for the marketing and development of their 3D printing biotechnology. The mutual enterprise is working to raise approximately $1-3 million on behalf of the BiO Assay product line.
"We expect this product to generate huge revenues around the globe," said RBCC CEO Kimberly Palmer. "We're counting on other investors who feel the same to help us market this amazing device to researchers all over the world."