04.01.13
ChromaDex Corporation, Irvine, CA, has agreed to sell its BluScience consumer product line to NeutriSci International for about $6 million. The BluScience line of products can be found in more than 15,000 retail locations across the U.S.
“By launching the BluScience consumer products, we achieved our primary goal of increasing the awareness of pTeroPure (the company’s branded, patented pterostilbene),” said Frank Jaksch, CEO and founder of ChromaDex. “We are excited to have found a strategic partner with strong nutraceutical consumer product marketing expertise to take the BluScience brand to the next level. We look forward to working with the NeutriSci team to make BluScience a tremendous success.”
Under the terms of the letter of intent, upon closing, the total transaction is valued at approximately $6 million and will consist of a combination of cash, senior secured debt and an ownership interest in NeutriSci. ChromaDex will continue to generate revenue through a royalty on future net sales of BluScience products as well as a supply agreement with NeutriSci for its patented pTeroPure pterostilbene, which will continue to be the key active ingredient in the BluScience product line. ChromaDex will retain all rights and ownership to its pTeroPure pterostilbene.
“By launching the BluScience consumer products, we achieved our primary goal of increasing the awareness of pTeroPure (the company’s branded, patented pterostilbene),” said Frank Jaksch, CEO and founder of ChromaDex. “We are excited to have found a strategic partner with strong nutraceutical consumer product marketing expertise to take the BluScience brand to the next level. We look forward to working with the NeutriSci team to make BluScience a tremendous success.”
Under the terms of the letter of intent, upon closing, the total transaction is valued at approximately $6 million and will consist of a combination of cash, senior secured debt and an ownership interest in NeutriSci. ChromaDex will continue to generate revenue through a royalty on future net sales of BluScience products as well as a supply agreement with NeutriSci for its patented pTeroPure pterostilbene, which will continue to be the key active ingredient in the BluScience product line. ChromaDex will retain all rights and ownership to its pTeroPure pterostilbene.
