Today before the opening bell, the biotech division of Rainbow Coral announced it has formed a Joint Venture (JV) with TheraKine to solve the problems presented by systemic drug delivery. The new JV is an extension of the company’s bold expansion into the $60 billion global drug delivery market.
TheraKine is the developer of a revolutionary, sustained-release drug delivery platform that could soon make local delivery of biologic agents and small molecules safer, more effective, and more convenient than ever before. The company has developed and patented these novel, tunable technologies with the potential to enable selective, site-specific drug delivery, allowing for lower drug concentrations and significantly reducing the risk of drug toxicity.
According to today’s release, this new sustained-release technology can also extend the patent life cycles of drugs. Offering pharmaceutical and biotech companies extended patent protection represents a tremendous market advantage and opportunity to increase profitability of FDA-approved drugs.
“TheraKine’s sustained-release delivery system could allow patients who now need daily injections to instead have one injection every four to six months,” stated RBCC CEO Patrick Brown. “We expect the demand for this product to be very high once it’s made available, and RBCC plans to take a real stake in its success.”
Stan Yakatan, TheraKine’s CEO, commented, “TheraKine is excited about the opportunity to partner with Rainbow to repurpose drugs with our sustained release technologies.”
For more information, visit www.rainbowbiosciences.com
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