ChromaDex Corp. (NASDAQ:CDXC), an innovator of proprietary health,
wellness and nutritional ingredients that creates science-based
solutions for dietary supplement, food and beverage, skin care,
sports nutrition, and pharmaceutical products, announced today that
it has entered into a securities purchase agreement for the sale of
up to $25 million of its common stock in a private placement led by
Hong Kong business leader Mr. Li Ka-shing. Through Horizons
Ventures, Mr. Li has invested in many innovative companies in the
last decade, including Facebook, Spotify, DeepMind, Siri,
Impossible Foods and Modern Meadow. With Horizons Ventures’ strong
global presence, the new investment will be able to support future
ChromaDex developments in the global marketplace.
Frank Jaksch, Jr., CEO and co-founder of ChromaDex, commented,
“NIAGEN® has reached an inflection point where top scientists at
leading universities and research institutions are fascinated with
the compound resulting in over 100 collaborative agreements
currently in place. We are now ready to show the world the
anti-aging capabilities of NIAGEN® and are truly honored to have
Horizons Ventures as a strategic investor and be associated with
their family of prestigious global investments.”
Tony Lau of Horizons Ventures commented, “We see the category of
healthy aging as an emerging, high-growth opportunity. We look
forward to supporting ChromaDex in developing products in the
healthy aging market and expand the market overseas.”
Robert Fried, President, and Chief Strategy Officer of
ChromaDex, added, “Mr. Li Ka-shing and Horizons Ventures have an
extraordinary track record in identifying momentous
innovation. This is an important milestone for
ChromaDex in our mission to be a world leader in the anti-aging
space, with emphasis on NIAGEN® and NAD precursors.”
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE MKT:LTS), is acting as
exclusive placement agent in the private placement.
The shares of common stock being sold in the private placement
will not have been registered under the Securities Act of 1933, as
amended (the “Act”). Accordingly, such shares may not be
offered or sold in the United States except pursuant to an
effective registration statement or an applicable exemption from
the registration requirements under the Act. In connection
with the private placement, ChromaDex will enter into a
registration rights agreement with the investors. Additional
details about the transaction are included in a Form 8-K filed by
ChromaDex concurrently with this release.
About NIAGEN® Nicotinamide Riboside and
NAD+NIAGEN® is the world’s first and only commercially
available, nature-identical form of nicotinamide riboside (NR). NR
is a next-generation form of vitamin B3 that acts as a potent and
bioavailable booster of nicotinamide adenine dinucleotide (NAD+),
which is vital to functions that ensure proper cellular and energy
metabolism. NAD+ enables the mitochondria – the ‘powerhouses of the
cell’ to convert the food we eat into the energy our body needs to
sustain all its functions. It is essential for life.
A decade’s worth of pre-clinical research, along with the first
published human clinical trial, demonstrate that supplementing with
NR effectively boosts NAD+ levels in both animals and people. With
six patents issued and more pending, NIAGEN® is a novel ingredient
brought to you only by ChromaDex. Its data were reviewed by the US
Food and Drug Administration as part of its New Dietary Ingredient
(NDI) notification which made it available for use in dietary
supplements. NIAGEN® is also generally recognized as safe (GRAS).
For additional information about NIAGEN®, visit
www.Chromadex.com. For additional information about NR or
NAD+, visit www.aboutnr.com.
About ChromaDex: ChromaDex leverages its
complementary business units to discover, acquire, develop and
commercialize patented and proprietary ingredient technologies that
address the dietary supplement, food, beverage, skin care and
pharmaceutical markets. In addition to our ingredient technologies
unit, we also have business units focused on natural product fine
chemicals (known as "phytochemicals"), chemistry and analytical
testing services, and product regulatory and safety consulting. As
a result of our relationships with leading universities and
research institutions, we are able to discover and license early
stage, IP-backed ingredient technologies. We then utilize our
in-house chemistry, regulatory and safety consulting business units
to develop commercially viable ingredients. Our ingredient
portfolio is backed with clinical and scientific research, as well
as extensive IP protection. Our portfolio of patented ingredient
technologies includes NIAGEN® nicotinamide riboside; pTeroPure®
pterostilbene; PURENERGY®, a caffeine-pTeroPure® co-crystal;
IMMULINA™, a spirulina extract; and AnthOrigin™, anthocyanins
derived from a domestically-produced, water-extracted purple corn.
To learn more about ChromaDex, please visit www.ChromaDex.com.
Forward-Looking Statements:
This release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities and
Exchange Act of 1934, as amended, including, without limitation,
statements related to the anticipated proceeds to be received in
the private placement, success of Horizons Ventures’ investments,
Horizons Ventures’ ability to support future ChromaDex developments
in the global marketplace, the innovative qualities of NIAGEN®,
results of the NIAGEN® studies and their significance, and the
anti-aging capabilities of nicotinamide riboside. Statements that
are not a description of historical facts constitute
forward-looking statements and may often, but not always, be
identified by the use of such words as "expects", "anticipates",
"intends", "estimates", "plans", "potential", "possible",
"probable", "believes", "seeks", "may", "will", "should", "could"
or the negative of such terms or other similar expressions. More
detailed information about ChromaDex and the risk factors that may
affect the realization of forward-looking statements is set forth
in ChromaDex's Annual Report on Form 10-K for the fiscal year ended
December 31, 2016 and other filings submitted by ChromaDex to the
SEC, copies of which may be obtained from the SEC's website at
www.sec.gov. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof, and actual results may differ materially from those
suggested by these forward-looking statements. All forward-looking
statements are qualified in their entirety by this cautionary
statement and ChromaDex undertakes no obligation to revise or
update this release to reflect events or circumstances after the
date hereof.
ChromaDex Investor Relations Contact:
Andrew Johnson, Director of Investor Relations
949-419-0288
andrewj@chromadex.com
ChromaDex Public Relations Contact:
Breah Ostendorf, Director of Marketing
949-537-4103
breaho@chromadex.com
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