Hope this acquisition help us. Kinda missing some details like purchase price, if they used cash or shares to purchase? It's still early but in simple terms sounds like we bought a sales team with good contacts. I trust CDXC mgmt to do the right thing. Just ready for this baby to start going NORTH!
This acquisition can't hurt. The disposition was meant to cut costs, ie. it was a profit drain for Biospherics, which it appears from their website releases is almost out of business. So, this is a strategic acquisition probably purchased at peanuts to relieve the seller of a money-bleeding division. Therefor the risk is small, and CDXC will probably try it out for a year or 2 before making a final determination as to whether to keep it. Hopefully CDXC Mgt has a new and improved use for these 2 or 3 full-time headcount that they may be acquiring. The rest of the organization looks to be project specific, pre-diem consultants on call. Perhaps they only acquired the 1 woman/salary and benefits, who was the CEO. Looks like an economical purchase. I think there is opportunity with the universities, etc. that want the guidance that consultants can bring them. Makes CDXC a broader vendor of wares. IMO CDXC will move forward when they sign a deal to out-license Blu, and not before that.
joejoe....do some more DD...this women u talk of.....Claire Kruger,....look her up...she is not just a token in the deal.... Claire Kruger is CEO and Director of Health Sciences at Spherix. With more than 25 years of consulting experience, her primary area of expertise is in foods, consumer products and pharmaceuticals, where she provides scien- tific, regulatory, and strategic support to clients in both the US and interna- tional regulatory arenas. She has conducted toxicity evaluations of foods and food contaminants, as well as health risk #$%$ments and exposure #$%$- ments of drugs, cosmetics, and pesticides. Her clients include food, drug, and dietary supplement manufacturers, agricultural producers, biotechnology companies, trade associations, and law firms.
Dr. Claire L. Kruger was elected to the Spherix Incorporated Board of Directors in August 2007, and was also elected Chief Executive Officer and Director of Health Sciences at that time. Dr. Kruger received her Ph.D. in Toxicology from Albany Medical College, and her #$%$. in Biology from Clarkson College. With more than 20 years of consulting experience, her primary areas of expertise are in foods, consumer products and pharmaceuticals, where she provides scientific, regulatory, and strategic support to clients in both the US and international regulatory arenas. Dr. Kruger has conducted toxicity evaluations of foods and food contaminants, as well as health risk #$%$ments and exposure #$%$ments of drugs, cosmetics, and pesticides. Her clients include food, drug, and dietary supplement manufacturers, agricultural producers, biotechnology companies, trade associations, and law firms. In her role as a consultant, Dr. Kruger has been involved in the safety evaluation of a variety of consumer products, providing oversight of product compliance with current and emerging scientific and regulatory guidance. She is not now, nor has she been for the past five years, a director of a public, for-profit company other than Spherix.
many.....this is a good thing for the future of cdxc....with the regulations coming out of the crazy obama administration they are for sure to ramp up the FDA ....this company is in Washington D.C.
it is a great fit for chromadex....
"By providing a more comprehensive suite of science-based and regulatory services, ChromaDex will to able to more efficiently advance products in the dietary supplement, food & beverage, animal health, cosmetic and pharmaceutical markets."
"both new and existing products".........who do you think is going to be testing all these products that the govt. is about to rain down on....chromadex....and now they have the consulting firm based right in Washington D.C. to advise all these companies on what to do....smart...
Spherix Consulting provides its clients in the food, supplement and pharmaceutical industries with effective solutions to manage potential health and regulatory risks. Its science-based solutions are for both new and existing products that may be subject to product liability and/or exposed to changing scientific standards or public perceptions; literature evaluations; and design and assessment of pre-clinical and clinical safety testing. Spherix Consulting specializes in regulatory submissions for food and dietary supplement ingredients (GRAS, NDIN, Food Additive Petitions, Novel Food Petitions). For its clients involved in drug development within the pharmaceutical industry, Spherix provides similar services as well as risk-based strategies, including intellectual property data and compliance gap identification, due diligence assessments and IND writing.
"As a leader in scientific and regulatory consulting, Spherix Consulting has a well-established list of Fortune 1000 customers. The transaction is expected to result in an immediate increase in revenue for ChromaDex." Interesting....