Rainbow Biosciences signs letter of intent to form new joint venture with n3D

Rainbow Biosciences, a division of Rainbow Coral Corp. (OTCBB:RBCC) announced today that it signed a letter of intent to acquire or form a new joint venture with cutting-edge biotech firm n3D Biosciences, Inc. (n3D).

In collaboration with the MD Anderson Cancer Center in Houston and Rice University, n3D has developed a proprietary process that enables scientists to grow cells in a three dimensional environment. The breakthrough product uses nano particles that produce magnetic fields to lift cells from the bottom of petri dishes.

Compared with conventional cell cultures grown on flat surfaces, these 3-D cultures form tissues that more closely resemble those found in the human body. The technique has the potential to drastically reduce the cost of developing new drugs as well as eliminate the use of animals when testing the safety of manufactured chemicals.

"N3D's technique is simple, fast, and requires no special equipment," said RBCC CEO Patrick Brown. "These are huge advantages over other technologies that have attempted to take cell culturing into the third dimension. We think n3D could be a perfect fit with RBCC, and we look forward to signing a definitive agreement soon."

Source: Rainbow BioSciences