Rainbow Coral Corp.'s (RBCC.OB) or RBCC said the current market growth projections for the new treatments for Parkinson's disease is promising. The company sees a bright outlook as its bio-tech subsidiary Rainbow Biosciences is negotiating a definitive agreement with the emerging biotech innovator Amarantus Biosciences Inc.
As announced by the end of April, RBCC has executed a Letter of Intent to advance Amarantus's Parkinson's disease program that include an early detection diagnostic blood test and disease modifying protein drug candidate. Over 6 million patients worldwide are suffering from Parkinson's disease.
Amarantus owns the rights to MANF, a neurotrophic factor currently in pre-clinical development for the treatment of types of cell deaths called apoptosis. In addition, it owns a license to a diagnostic platform called NuroPro for Parkinson's that allows neurologists to accurately diagnose and track the progression in patients. The test is expected to be marketed in certain regions by 2013.
RBCC noted that there is a projected growth of $3 billion in Parkinson's treatment market and the value could grow to $3.75 billion by 2015. According to the Parkinson's Disease Foundation, there are around one million Americans suffering from Parkinson's disease, and 60,000 new patients are diagnosed each year. Medication costs are estimated to be around $2,500 per person each year, with a total economic impact of around $25 billion in the U.S. alone.
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by RTT Staff Writer
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