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ChromaDex Corporation Message Board

  • financesajeed financesajeed Mar 10, 2013 1:00 PM Flag

    ChromaDex (CDXC) business arrangement with NautriSci International

    ChromaDex (CDXC), vide its press release on February 25, 2013 has announced that the company is planning to sale of its BlueScience Consumer Product Line to NautriSci International. We know that ChromaDex is an innovative natural product company which provides proprietary, science based solutions and ingredients to the dietary supplement, food & beverage, animal health, cosmetic, and pharmaceuticals industry. On the other hand NautriSci International is an Alberta corporation working as a leader in the innovation, production and formulation of science-based and clinically proven nutraceutical products. According to Frank Jaksch, CEO and Founder of ChromaDex, "By launching the BluScience consumer products, we achieved our primary goal of increasing the awareness of pTeroPure. We are excited to have found a strategic partner with strong nutraceutical consumer product marketing expertise to take the BluScience brand to the next level. We look forward to working with the NeutriSci team to make BluScience a tremendous success." Also CDXC stated that (press release), under the terms of the LOI, upon closing the total transaction is valued at approximately $6.0 million and will consist of a combination of cash, senior secured debt and an ownership interest in NeutriSci. ChromaDex will continue to generate revenue through a royalty on future net sales of BluScience products as well as a supply agreement with NeutriSci for its patented pTeroPure pterostilbene, which will continue to be the key active ingredient in the BluScience product line. ChromaDex will retain all rights and ownership to its pTeroPure pterostilbene. NeutriSci paid a non-refundable $250,000 deposit to ChromaDex, which will be applied toward the total consideration to be paid. Closing is expected to occur before March 31, 2013 upon satisfaction of various closing conditions. The Board as well as management of CDXC considers the above dealing will create win win potion for both ChromaDex and NautriSci Inter

 
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