DSM Venturing strategically invests in ChromaDex
ChromaDex is best known for its extensive catalogue of phytochemical reference standards and botanical materials. The company has also had significant success with ingredients, starting with its pTeroPure pterostilbene ingredient, and more recently with its PurEnergy caffeine-pTeroPure co-crystal, and Niagen nicotinamide riboside, a ‘next-generation B-vitamin. The company’s ingredient portfolio also includes a natural black rice containing cyanidin-3-glucoside branded ProC3G, a gac fruit powder branded nutraGac, and curcumin.
The deal terms have not been disclosed, but according to the 8K filed with the US Securities and Exchange Commission, Chromadex received an investment of $2.5 million on October 17.
The investment appears to be a validation of the company, the business model and the company’s ingredient pipeline it has rolled out over the past three years.
“It is with great pride and enthusiasm that we welcome DSM as a strategic investor in ChromaDex,” said Frank Jaksch, Jr., CEO and co-founder of ChromaDex. “We believe the investment demonstrates their confidence in the future of ChromaDex as well as our unique business model of acquiring and commercializing novel ingredient technologies.”
Jaksch told NutraIngredients-USA that the investment from DSM would allow Chromadex to explore new topics and to accelerate the company’s existing pipeline.
Pieter Wolters, Managing Director of DSM Venturing, said: “We are pleased to invest in ChromaDex and thereby support Frank Jaksch and the entire ChromaDex team in the expansion of their business. We look forward to a mutually beneficial relationship.”
Chromadex has made significant structural shifts in 2013. It sold its BluScience consumer products line in March while retaining some rights to that line’s active ingredient, pTeroPure. And it acquired Spherix Consulting, adding scientific and regulatory consulting to its range of capabilities.
ChromaDex continued to execute on its business plan to identify, develop and commercialize high potential ingredients. In March, the company introduced Niagen, and in June came the first launch of the ingredient in a consumer product from High Performance Nutrition to support neuroprotection in contact sports. In July, ChromaDex entered into an agreement with Thorne Research to supply the ingredient for future products. And the company has inked deals to supply Niagen and pTeroPure for university research.