RBCC, Therakine Initiate Phase II of Drug Delivery Development

Rainbow Coral Corp.

and its joint venture partner, Therakine, Ltd., are pleased to announce that they have reached a major new milestone in the development of a revolutionary new drug delivery technology. This week, the companies reached terms to initiate Phase II of research and analysis on a new injectable, sustained-release technology poised to vastly improve patients' use of a crucial drug in the fight against drug and alcohol dependence. Naltrexone is a prescription opioid receptor antagonist used primarily in the management of alcohol and opioid dependence. Phase I of the joint venture's research established excellent compatibility between the drug and Therakine's hydrophobic injection matrix as well as a highly promising release