ChromaDex expands capabilities with Spherix Consulting acquisition
ChromaDex, based in Irvine, CA, provides proprietary ingredients to the dietary supplement, food & beverage, animal health, cosmetic and pharmaceutical industries. The company also offers testings services and manufactures a branded, bioidentical form of pterostilbene, called pTeroPure, that it markets in a line of supplements called BluScience. ChromaDex acquired Spherix Consulting from parent company Spherix Inc.
“It’s very complimentary to the services that we offer right now. We don’t do what Spherix Consulting does. So there is no real crossover between the two businesses,” Frank Jaksch, CEO of ChromaDex, told NutraIngredients-USA.
“Spherix does mainly regulatory-oriented consulting. They serve the same markets that we do.”
The acquisition will expand the range of ChromaDex’s services, Jaksch said, and make it more of a one stop shop for customers.
“Toxicology and safety related issues, that fringe into GRAS or NDINs. Those are just some examples of what we will now be able to offer as part of our ChromaDex service offerings,” he said.
But it will also bring within house some capabilities that the company in the past was paying others to do.
“We currently outsource for our own purposes the regulatory consulting for the development of our own ingredients,” Jaksch said.
Based in Washington, D.C.
As a result of the transaction, Spherix Consulting became a wholly-owned subsidiary of ChromaDex. Spherix Consulting will continue to maintain offices in the greater Washington, D.C. area. 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.
Claire Kruger, who will continue as President of Spherix Consulting, said "Together, Spherix Consulting and ChromaDex will provide a comprehensive platform of services for our clients that is both efficient and effective. Our unparalleled industry expertise and complementary offerings will provide our customers with enhanced services and better access to the information they need to make science-based decisions."
Spherix Consulting helps clients in the food, supplement and pharmaceutical industries manage potential health and regulatory risks. It helps clients deal with product liability and/or changing scientific standards or public perceptions of new and existing product. It also conducts literature evaluations and helps in the design and assessment of pre-clinical trials and clinical safety testing. In addition, the consultancy offers a full suite of regulatory filing expertise, including the above mentioned GRAS and New Dietary Ingredient filings and EU Novel Food Petitions.
Spherix provides similar services for clients in the pharmaceutical realm including including intellectual property data and compliance gap identification, due diligence assessments and IND writing.