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Big VC Biotech Spending on the Rise for 2012
Posted February 8, 2012
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NOKOMIS, Fla. --(BUSINESS WIRE)-- As Rainbow BioSciences, the biotech division of Rainbow Coral Corp. (OTCBB: RBCC), continues to vet investment banks to assist with its capital raise, investors remain optimistic on the returns that new biotech firms can bring. A recent report indicates that venture capital investments in biotech increased by 22 percent to $4.7 billion last year.
The report, published earlier this month by PricewaterhouseCoopers and the National Venture Capital Association, states that the life sciences sector accounted for 27 percent of all venture capital dollars spent nationally in 2011. That upswing lead an overall 22-percent increase in venture capital spending over 2010.
With investors clearly excited about the prospects of biotech, many analysts expect those VC dollars to increase yet again in 2012. That's terrific news for RBCC. The company is currently in the process of short-listing an investment banking firm in Houston, home of the company's biosciences division, to assist with potential capital-raise programs.
Once funding is secured, RBCC plans to close an investment opportunity with Nano3D Biosciences (n3D) and other target companies. Nano3D is a fully commercialized company that has developed a breakthrough three-dimensional cell culturing system. The assistance of an investment banking firm in raising capital would allow RBCC to move forward with its acquisition plans and global marketing initiative for n3D.
RBCC seeks to work with Houston firms due to the impressive performance of the area's biotech sector.
For more information on Rainbow BioSciences, Rainbow Coral's biotech division, please visit www.rainbowbiosciences.com/investors.
Rainbow BioSciences will develop new medical and research technology innovations to compete alongside companies such as Celgene Corp. (NASDAQ: CELG), Cardinal Health, Inc. (NYSE: CAH), Abbott Laboratories (NYSE: ABT) and Affymax, Inc. (NASDAQ: AFFY).
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About Rainbow BioSciences
Rainbow BioSciences is a division of Rainbow Coral Corp. (OTCBB: RBCC). 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.
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