ChromaDex Corp. and Nestlé Health Science Enter Global Commercial License and Supply Agreement for TRU NIAGEN®
December 20 2018 - 4:05PM
ChromaDex Corp. (NASDAQ:CDXC) announced today it entered into a
license and supply agreement with Nestlé Health Science (NHSc), a
global leader pioneering quality science-based nutritional health
solutions. The agreement provides NHSc the exclusive right to
include CDXC’s patented nicotinamide riboside ingredient TRU
NIAGEN® in NHSc branded medical nutrition, and co-exclusive rights
to include TRU NIAGEN® in certain products within the consumer
health category. The territories in the agreement include North
America, Europe, Latin America, Australia, Japan, and New Zealand.
ChromaDex’s ingredient NIAGEN® is sold directly to consumers as
TRU NIAGEN®, which is backed by clinical and scientific research
establishing its safety and efficacy at elevating the coenzyme
nicotinamide adenine dinucleotide (NAD) in humans. NAD is an
important metabolite involved in virtually every metabolic process
in the body, most notably energy metabolism and cell repair.
“Nestlé Health Science is a blue chip global company whose
expertise in consumer health products is matched by their
exceptional science,” said Rob Fried, CEO of ChromaDex. “We believe
Nestlé Health Science’s portfolio with TRU NIAGEN® will
substantially advance their already strong market position.
Importantly, this partnership will help educate people on the
importance of elevating NAD levels with TRU NIAGEN®. We are proud
to be in business with Nestlé and look forward to a long, mutually
beneficial relationship.”
Greg Behar, CEO of Nestlé Health Science, stated, “We are quite
impressed with the science supporting TRU NIAGEN®, and the
excellent work done by the team of professionals at ChromaDex. We
see this innovation as an important element of our product
portfolio. We are confident that TRU NIAGEN® combined with our
Nestlé Health Science products and supported by strong scientific
and clinical evidence will provide consumers the opportunity to
improve the health of their cells with the power of nutrition.”
Under the terms of the agreement, NHSc will
make an upfront payment of $4 million. CDXC will receive certain
commercial milestone payments related to the sale of TRU NIAGEN® to
NHSc as well as tiered royalties.
For additional information on the science supporting TRU NIAGEN®
visit www.truniagen.com.
About TRU NIAGEN®:TRU NIAGEN® is a branded
dietary supplement brought to market by key nicotinamide riboside
innovator and patent holder, ChromaDex. NIAGEN® nicotinamide
riboside (NR), also supplied by ChromaDex, is the sole active
ingredient in TRU NIAGEN®. Multiple clinical trials demonstrate
NIAGEN® is proven to boost NAD (nicotinamide adenine dinucleotide)
levels, which decline with age. Only NIAGEN® has twice been
successfully reviewed under FDA's new dietary ingredient (“NDI”)
notification program and has also been successfully notified to the
FDA as generally recognized as safe (“GRAS”).
About ChromaDex:ChromaDex Corp. is an
integrated, global nutraceutical company devoted to improving the
way people age. ChromaDex scientists partner with leading
universities and research institutions worldwide to uncover the
full potential of NAD and identify and develop novel, science-based
ingredients. Its flagship ingredient, NIAGEN® nicotinamide
riboside, sold directly to consumers as TRU NIAGEN®, is backed with
clinical and scientific research, as well as extensive IP
protection. TRU NIAGEN® is helping the world AGE BETTER®. ChromaDex
maintains a website at www.chromadex.com to which ChromaDex
regularly posts copies of its press releases as well as additional
and financial information about the Company.
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. 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 30, 2017, ChromaDex's Quarterly Reports on Form 10-Q 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
provided research materials and a portion of the grant funding as a
collaborator for the study.
ChromaDex Media Contact:Alex Worsham, Director
of Strategic Partnerships949-648-3775alexw@chromadex.com
ChromaDex Investor Relations Contact:Brianna
Gerber, Sr. Director of FP&A and Investor
Relations949-344-3782briannag@chromadex.com
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