ChromaDex Licenses Technology from SUNY

IRVINE, Calif.—ChromaDex Corp. (OTCBB: CDXC) announced its wholly owned subsidiary entered into a world-wide license agreement with The Research Foundation of the State University of New York, on behalf of the University at Buffalo (SUNY Buffalo), to produce and market three classes of plant-based ingredients for the nutraceutical, functional food, beverage, natural chemical, cosmetic and pharmaceutical industries. Under the terms of the agreement, ChromaDex made an up-front cash payment to SUNY Buffalo and will pay earned royalties on sales of covered technology products and services.

The technology licensed to ChromaDex includes methods to selectively manufacture anthocyanins, leucoanthocyanidins and anthocyanidins. “We have been able to develop these molecules for the first time through a proprietary application,” said Mattheos Koffas, Ph.D., assistant professor of chemical engineering, SUNY Buffalo. “While all plants produce anthocyanins, they are challenging to extract and study in well-defined mixtures. Now that we can harvest them from a lab, they can be further studied for their antioxidant and other properties in various indications, especially ones related to the treatment of the metabolic syndrome, i.e. chronic pathological conditions stemming from obesity.”

ChromaDex plans to market these ingredients to food, beverage, pharmaceutical and dietary supplement manufacturers in order to meet the growing demands for natural, plant-based ingredients in the marketplace. The company will also evaluate opportunities to partner the ingredients for expanded applications. Frank L. Jaksch Jr., co-founder and CEO, ChromaDex, said, “This novel and ‘green’ technology will enable ChromaDex to selectively and cost-effectively manufacture these ingredients and make them commercially available for the first time.”

Under the terms of the agreement, ChromaDex agreed to pay an annual minimum royalty payment to SUNY Buffalo and a milestone payment upon sale of the first licensed product, licensed service or sublicense fee payment received by ChromaDex. With the consent of SUNY Buffalo, ChromaDex may also grant sublicenses to third parties and has agreed to reimburse SUNY Buffalo for certain patent costs related to the licensed patents.