0001415889-13-001489.txt : 20130805 0001415889-13-001489.hdr.sgml : 20130805 20130805082037 ACCESSION NUMBER: 0001415889-13-001489 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130801 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130805 DATE AS OF CHANGE: 20130805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ChromaDex Corp. CENTRAL INDEX KEY: 0001386570 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 262940963 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53290 FILM NUMBER: 131008811 BUSINESS ADDRESS: STREET 1: 10005 MUIRLANDS BLVD. STREET 2: STE. G, FIRST FLOOR CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 949-419-0288 MAIL ADDRESS: STREET 1: 10005 MUIRLANDS BLVD. STREET 2: STE. G, FIRST FLOOR CITY: IRVINE STATE: CA ZIP: 92618 FORMER COMPANY: FORMER CONFORMED NAME: CODY RESOURCES, INC. DATE OF NAME CHANGE: 20070112 8-K 1 cdxc8kaug52013.htm cdxc8kaug52013.htm


UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549
____________

FORM 8-K

CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) August 1, 2013

CHROMADEX CORP.
 (Exact name of registrant as specified in its charter)

Delaware
000-53290
26-2940963
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

10005 Muirlands Boulevard, Suite G, Irvine, California, 92618
(Address of principal executive offices, including zip code)

(949) 419-0288
 (Registrant's telephone number, including area code)

Copies to:
Harvey Kesner, Esq.
Sichenzia Ross Friedman Ference LLP
61 Broadway, 32nd Floor
New York, New York 10006
Phone: (212) 930-9700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 

 
 
Item 1.01 
Entry into a Material Definitive Agreement

On August 1, 2013, ChromaDex Corporation (the “Company”) entered in License Agreement (the “Agreement”) with Green Molecular S.L., Inc. (“Green Molecular”), a Spanish corporation, pursuant to which Green Molecular granted the Company an exclusive, worldwide right and license (the “License Rights”) to use and practice certain patent rights and to make, have made, use and sell certain products, including the compound pterostilbene, as it is used in dietary supplement products (the “Product”).  The Agreement terminates on the earliest of (i) expiration date or abandonment of the last valid claim of the patent rights licensed under the Agreement, (ii) failure by ChromaDex to meet certain pre-development milestones or an uncured default or breach by ChromaDex under the Agreement or (iii) upon prior written notice given by ChromaDex.

In consideration of the License Rights, the Company shall pay to Green Molecular earned royalties on net sales of all licensed products (including sales by sublicensees and affiliates), as well as a percentage of attributed income from sublicensing agreements. ChromaDex is subject to minimum annual maintenance or royalty payments to Green Molecular during the term of the Agreement.

ChromaDex has agreed upon a commercialization plan to develop, commercialize and market licensed products under that Agreement and will make certain payments to Green Molecular in connection with the achievement of certain milestone events relating to product development and regulatory approvals in accordance with the terms of the Agreement.

The foregoing is a summary of the material terms of the Agreement and does not purport to be complete. You should read the complete Agreement, which shall be attached as an exhibit to ChromaDex Corporation's Quarterly Report on Form 10-Q for the quarter ended September 28, 2013 and, when filed, such Agreement shall be incorporated by reference herein. ChromaDex Corporation will seek confidential treatment for certain terms of the Agreement at the time of filing such Quarterly Report.

Item 8.01. Other Events

On August 5, 2013, the Company issued a press release announcing the Agreement.  A copy of the press release is filed as an exhibit hereto and is incorporated by reference herein.
 
Item 9.01. Financial Statements and Exhibits.
 
(d) Exhibits

99.1
Press Release, dated August 5, 2013

 
 

 

SIGNATURES

                    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: August 5, 2013

CHROMADEX CORP.
 
 
By:           /s/ Frank L. Jaksch Jr.
Name:     Frank L. Jaksch Jr.
Title:       Chief Executive Officer
 
EX-99.1 2 ex99-1.htm PRESS RELEASE DATED AUGUST 5, 2013 ex99-1.htm
Exhibit 99.1

ChromaDex® Acquires New Exclusive Worldwide Patent Rights for
pTeroPure® Pterostilbene Relating to Skin Care

- Company also Acquires Right of First Refusal for Combined Use of
Pterostilbene and Quercetin for the Prevention and/or Treatment of Skin Cancer  -

IRVINE, Calif. – August 5, 2013 – ChromaDex Corporation® (OTCQB: CDXC), an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, animal health, cosmetic and pharmaceutical industries, announced today it has licensed from Green Molecular, S.L. exclusive worldwide patent rights related to pharmaceutical and cosmetic preparations of pterostilbene for topical application for prevention and/or treatment of skin diseases, damage or injuries, including those relating to aging and exposure to the sun.
 
The acquisition brings the total number of patents and patents pending relating to pterostilbene owned by ChromaDex to eight.  This is the second acquisition made by ChromaDex of worldwide patent rights for pTeroPure associated with skincare. In September 2011, the Company entered into an agreement with the University of California, Irvine, for the exclusive rights to a joint patent application filed by ChromaDex and the University.
 
According to Mintel research, it is anticipated that the U.S. market for skincare will reach almost $5B in 2013, with expected continued growth due to demand for anti-aging products. Companies are seeking innovative skincare solutions for their customers that are backed by science and protected by intellectual property.
 
Frank Jaksch, founder and CEO of ChromaDex states, “We intend to continue our strategy to build intellectual property around our ingredients. By building a robust skincare IP portfolio, we are positioning to become a meaningful provider of patent protected innovative ingredient technologies to this growing multi-billion dollar market place.”
 
Dr. Jose M. Estrela, research director of Green Molecular, commented, “I am excited to have this collaboration with ChromaDex. Pterostilbene, as well as its possible association with other structurally-related natural polyphenols, has multiple applications in Biomedicine (see e.g. Estrela JM et al. Pterostilbene: Biomedical applications. Crit Rev Clin Lab Sci. 2013 May;50(3):65-78). Working with ChromaDex will allow for pterostilbene’s cosmetic and pharmaceutical applications in skin care and pathology to reach the market.”
 
pTeroPure®, ChromaDex’s branded nature identical form of pterostilbene, is an antioxidant found in blueberries and was named the 2010 North American Most Promising Ingredient of the Year by the independent research company Frost & Sullivan.  In September 2012, ChromaDex announced findings from a Phase 2/3 trial at the University of Mississippi Medical Center demonstrating that pTeroPure significantly reduced blood pressure in adults. Pterostilbene has superior biological activity, better oral bioavailability and metabolizes more slowly in the body than other polyphenols -- an antioxidant phytochemical that tends to prevent or neutralize the damaging effects of free radicals -- allowing more time for its antioxidant activities to act. Along with a number of other effects, pterostilbene has shown great promise for supporting heart health, cognitive function, anti-aging1, weight loss and other metabolic disorders. The amount of pterostilbene present in a typical serving of blueberries is a tiny fraction of the amount needed to realize its benefits.
 
 


1 Shukitt-Hale B, Lau FC, Joseph JA. Berry Fruit Supplementation and the Aging Brain. J. Agric. Food Chem. 56, 636 (2008).
 

 
 
About ChromaDex®:
 
ChromaDex® is an innovative natural products company that discovers, acquires, develops and commercializes proprietary-based ingredient technologies through its unique business model that utilizes its wholly owned synergistic business units, including ingredient technologies, natural product fine chemicals (known as “phytochemicals”), chemistry and analytical testing services, and product regulatory and safety consulting (as Spherix Consulting).  The company provides seamless science-based solutions to the nutritional supplement, food and beverage, animal health, cosmetic, and pharmaceutical industries.  The ChromaDex ingredient technologies unit includes products backed with extensive scientific research and intellectual property.  Its ingredient portfolio includes pTeroPure® pterostilbene; ProC3G™, a natural black rice containing cyanidine-3-glucoside; PURENERGY™, a caffeine-pTeroPure co-crystal; nutraGac™, a gac fruit powder; curcumin; and Niagen™, its recently launched branded nicotinamide riboside, a novel next-generation B-vitamin.  To learn more about ChromaDex visit www.chromadex.com.
 
About Green Molecular, S.L.:
 
Green Molecular is a spin-off company promoted by Cross Road Biotech (www.crbinverbio.com), a VC focused in life sciences, and the University of Valencia (Spain). Green Molecular working aim is focused on the development of the health benefits of natural polyphenols. Since its foundation in 2009, the company´s R&D has been focused on cancer prevention and treatment, as well as skin care applications. Nevertheless the company is interested in further expanding its patent portfolio based on the multiple biomedical applications of these natural compounds.
 
Forward-Looking Statements:
 
Any statements that are not historical facts contained in this release are forward-looking statements.  Actual results may differ materially from those projected or implied in any forward-looking statements.  Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the effect of economic conditions both nationally and internationally, ability to protect our intellectual property rights, impact of any litigation or infringement actions brought against us, competition from other providers and products, risks in product development, our ability to raise capital to fund continuing operations, the ability to complete transactions, and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings.  The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
 

ChromaDex Media Inquiries:
Beckerman PR
Jerry Schranz
201-465-8020
jschranz@beckermanpr.com

ChromaDex Investor Contact:
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
858-794-9500
bprag@delmarconsulting.com

or

Alex Partners, LLC
Scott Wilfong, President
425- 242-0891
scott@alexpartnersllc.com

ChromaDex Company Contact:
Laura Carney, Executive Assistant
949-419-0288
laurac@chromadex.com
 
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