11.06.15
ChromaDex Corp., Irvine, CA, an innovator of proprietary health, wellness and nutritional ingredients has entered into a joint development agreement with The Procter & Gamble Company, New York, NY.
Under the terms of the agreement, ChromaDex will provide P&G exclusivity to its new proprietary ingredient for use in P&G branded products. P&G will make an undisclosed up-front payment to ChromaDex as well as other payments based on achievement of various milestones.
Frank Jaksch Jr., founder and CEO of ChromaDex, commented, “The joint development agreement with P&G is a significant milestone in the commercialization of our leading breakthrough ingredient. Procter and Gamble is a market leader in consumer products and this collaboration provides ChromaDex, as an innovator of novel ingredients, an efficient way to expand into new product categories and channels.”
Mr. Jaksch continued, “This agreement positions our innovative new ingredient to be included in a number of P&G products, some of which are among the highest volume consumer products in the world. Working with P&G over the past year on a series of assessments has provided for an excellent foundation for this exclusive joint development collaboration.”
The agreement is part of P&G’s ongoing commitment to Connect + Develop, aimed at tapping leading expertise outside the company to drive innovation and efficiency within P&G, while delivering superior value for consumers and benefits for both partner companies.
Under the terms of the agreement, ChromaDex will provide P&G exclusivity to its new proprietary ingredient for use in P&G branded products. P&G will make an undisclosed up-front payment to ChromaDex as well as other payments based on achievement of various milestones.
Frank Jaksch Jr., founder and CEO of ChromaDex, commented, “The joint development agreement with P&G is a significant milestone in the commercialization of our leading breakthrough ingredient. Procter and Gamble is a market leader in consumer products and this collaboration provides ChromaDex, as an innovator of novel ingredients, an efficient way to expand into new product categories and channels.”
Mr. Jaksch continued, “This agreement positions our innovative new ingredient to be included in a number of P&G products, some of which are among the highest volume consumer products in the world. Working with P&G over the past year on a series of assessments has provided for an excellent foundation for this exclusive joint development collaboration.”
The agreement is part of P&G’s ongoing commitment to Connect + Develop, aimed at tapping leading expertise outside the company to drive innovation and efficiency within P&G, while delivering superior value for consumers and benefits for both partner companies.
