Business
ChromaDex Comments on Jury Award Against Elysium Health and Reiterates Plans for Growth
Elysium Health to pay ChromaDex approximately $2.25 to $2.50 million in damages plus interest for breach of contract New partnership with Sinopharm Xingsha
About this update from Niagen Bioscience, Inc.
[{"type":"text","content":"\nElysium Health to pay ChromaDex approximately $2.25 to $2.50 million in damages plus interest for breach of contract\n\nNew partnership with Sinopharm Xingsha and recent partnerships with Walmart, H&H Group, and Ro to support next phase of growth\n\n LOS ANGELES--(BUSINESS WIRE)--\nChromaDex Corp. (NASDAQ:CDXC) today announced that a jury in the United States District Court for the Central District of California found that Elysium Health, Inc. (“Elysium”) breached its contract with ChromaDex by failing to pay for product it ordered and received in 2016. Based on the jury’s verdict, Elysium and Mark Morris will be required to pay ChromaDex approximately $2.25 to $2.50 million in damages and estimated interest.\n\n“It took nearly five years and has been challenging for both companies, but the jury’s decision finally holds Elysium accountable for paying what it owes,” said ChromaDex CEO Rob Fried. “We now look forward to focusing on the next phase of global growth for Tru Niagen® with partners including Sinopharm Xingsha, Nestlé Health Science, Walmart, A.S. Watson Group, H&H Group, W.R. Grace, and Ro.”\n\nAs the world’s leading NAD+ company, ChromaDex has invested significantly in investigating, manufacturing and offering NR in the form of Niagen® and has secured or licensed over 40 patents relating to Niagen® and other NAD precursors, with more than 60 patents pending. The safety and/or efficacy of Niagen® has been demonstrated in 13 published human trials and has achieved government regulatory acceptance in the United States, Canada, the European Union, and Australia.\n\nFor additional information about ChromaDex, please visit www.chromadex.com.\n\nAbout ChromaDex:\nChromaDex Corp. is a global bioscience company dedicated to healthy aging. The ChromaDex team, which includes world-renowned scientists, is pioneering research on nicotinamide adenine dinucleotide (NAD+), levels of which decline with age. ChromaDex is the innovator behind NAD+ precursor nicotinamide riboside (NR), commercialized as the flagship ingredient Niagen®. Nicotinamide riboside and other NAD+ precursors are protected by ChromaDex’s patent portfolio. ChromaDex delivers Niagen® as the sole active ingredient in its consumer product Tru Niagen® available at www.truniagen.com and through partnerships with global retailers and distributors. ChromaDex maintains a ...