Tailwinds’ Take: while not unexpected, a very important win for CDXC, which takes away the biggest potential concern for the Company.
IRVINE, Calif., Jan. 22, 2018 (GLOBE NEWSWIRE) — ChromaDex Corp. (NASDAQ:CDXC), an integrated, science-based, nutraceutical company devoted to improving the way people age, announced today that the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office has denied Elysium Health, Inc.’s request to invalidate U.S. Patent No. 8,197,807 (“the ‘807 patent”), covering compositions comprising nicotinamide riboside, which ChromaDex currently licenses from the Trustees of Dartmouth College.
Elysium Health, Inc., filed the petition on July 17, 2017, requesting inter partes review (IPR) of the ‘807 patent arguing that the patent should be considered invalid due to prior art. The Trustees of Dartmouth Collegefiled a preliminary response to Elysium’s request, contending that the petition should be denied as to all the challenged claims.
On January 18, 2018, the PTAB issued its decision denying institution of Elysium’s request.
ChromaDex Founder and CEO, Frank Jaksch, commented, “This decision confirms the validity of the intellectual property ChromaDex has licensed. With a comprehensive global patent portfolio of 16 patents and applications covering compositions and methods of use for nicotinamide riboside, our patent portfolio remains strong and continues to grow.”
Robert N. Fried, President and Chief Operating Officer of ChromaDex stated, “We have said, and will continue to say, that we will vigorously defend against anyone challenging what is owned by the company.”
In July, 2017 Elysium Health, Inc. also filed a petition to review U.S. Patent No. 8,383,086 B2 which ChromaDex also licenses. The Trustees of Dartmouth College still await a decision on this petition.
To date, NIAGEN® nicotinamide riboside (NR) has been a key growth driver for ChromaDex. NIAGEN® is the key active ingredient in the Company’s nicotinamide adenine dinucleotide (NAD+) boosting nutraceutical, TRU NIAGEN®, which is now sold by ChromaDex direct to consumers. Research published in Nature Communications demonstrates NIAGEN® is clinically proven to boost NAD+ levels, which decline with age. Only NIAGEN® nicotinamide riboside has Generally Recognized as Safe (GRAS) status and a New Dietary Ingredient Notification (NDIN), both reviewed by FDA
For more information on ChromaDex, visit: https://www.chromadex.com/.
ChromaDex Corp. is an integrated, global nutraceutical company devoted to improving the way people age. ChromaDex scientists partner with leading universities and research institutions worldwide to uncover the full potential of NAD+ and identify and develop novel, science-based ingredients. Its flagship ingredient, NIAGEN® nicotinamide riboside, sold directly to consumers as TRU NIAGEN®, is backed with clinical and scientific research, as well as extensive IP protection. TRU NIAGEN® is helping the world AGE BETTER®. To learn more about ChromaDex, please visit www.ChromaDex.com.
This release contains forward-looking statements relating to ChromaDex and ChromaDex’s business within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, including statements related to the validity and strength of ChromaDex’s patent portfolio. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as “expects”, “anticipates”, “intends”, “estimates”, “plans”, “potential”, “possible”, “probable”, “believes”, “seeks”, “may”, “will”, “should”, “could” or the negative of such terms or other similar expressions. More detailed information about ChromaDex and the risk factors that may affect the realization of forward-looking statements is set forth in ChromaDex’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, ChromaDex’sQuarterly Reports on Form 10-Q and other filings submitted by ChromaDex to the SEC, copies of which may be obtained from the SEC’s website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and actual results may differ materially from those suggested by these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and ChromaDex undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
ChromaDex Investor Relations Contact:
Andrew Johnson, Director of Investor Relations
ChromaDex Public Relations Contact:
Breah Ostendorf, Director of Marketing