ChromaDex, Inc. Awarded Phase II Small Business Innovation Research Grant by National Science Foundation
IRVINE, Calif., Jan. 4, 2011 /PRNewswire/ -- ChromaDex Corporation (OTC Bulletin Board: CDXC), a leader in the development of phytochemical and botanical reference standards and the creation of associated intellectual property, announced today that the National Science Foundation (NSF) awarded the Company a $500,000 Phase II Small Business Innovation Research (SBIR) Grant to further the commercial development of several plant-based antioxidants called anthocyanins for use in nutraceutical, food, beverage and cosmetic products. The project, entitled, "SBIR Phase II: Microbial Production of Selected Anthocyanins," will allow ChromaDex to complete validation of AnthoPuretechnology for the manufacturing of anthocyanins via fermentation.
Anthocyanins are naturally occurring plant pigments or colorants which contribute to the vivid coloring of berries and are proven to aid in protecting against oxidative stress and control blood glucose levels to assist with weight management and diabetes. They also provide similar benefits to the super-fruit compounds such as resveratrol and its next generation compound, pterostilbene.
"The development of anthocyanins through our AnthoPure technology represents the next stage in our commercialization strategy of new and novel ingredients at ChromaDex," said Bill Spengler, president of ChromaDex. "This follows the development of pTeroPure pterostilbene, which is currently undergoing clinical trials for cholesterol reduction and oxidative stress at the University of Mississippi. We believe the revenue potential for select, high purity anthocyanins will be significant, but until recently there has not been a commercially viable process by which to manufacture them."
"We are pleased the NSF is continuing its support as we enter the final stretch in readying our AnthoPuretechnology for market," said Frank Jaksch, co-founder and chief executive officer at ChromaDex. "Less than half of NSF Phase I grants are awarded a Phase II, so receiving this award validates that we are driving this technology toward commercialization."
In July 2008, ChromaDex entered into a world-wide license agreement with the Research Foundation of the State University of New York, on behalf of the University at Buffalo (SUNY Buffalo), to commercialize AnthoPure, a novel process technology which selectively manufactures specific anthocyanins. Under the terms of the agreement, ChromaDex made an up-front cash payment to SUNY Buffalo and will pay earned royalties on sales of covered technology products and services.
ChromaDex will use the NSF award and its own resources to complete the work necessary to commercialize anthocyanins using its AnthoPure technology. The SBIR Program stimulates technological innovation in the private sector by aiding and strengthening US small business research and development.
ChromaDex plans to market and license these anthocyanins to food, beverage, cosmetic and dietary supplement manufacturers to meet the growing demand for natural, plant-based ingredients in the marketplace and will also evaluate opportunities to collaborate or partner with other interested parties to further expand the applications for this unique technology.
About National Science Foundation Funding
The National Science Foundation funds research and education in most fields of science and engineering. This is accomplished through grants and cooperative agreements to more than 2,000 colleges, universities, K-12 school systems, businesses, informal science organizations and other research organizations throughout the United States.
NSF receives approximately 40,000 proposals each year for research, education and training projects, of which approximately 11,000 are funded. The SBIR program is a highly competitive program that encourages small business to explore their technological potential and provide the incentive to profit from its commercialization.
ChromaDex is a leader in the development of phytochemical and botanical reference standards, as well as analytical tools and services to meet product regulatory, quality, efficacy and safety standards. ChromaDex discovers, develops and markets novel, natural ingredients that fill unmet needs in the dietary supplement, food, beverage, cosmetic or pharmaceutical markets. Through a combination of licensed technology and its own R&D, ChromaDex utilizes plants and natural products to develop innovative ingredients. The company has an impressive pipeline of new ingredients, including its pTeroPure pterostilbene on which it has worldwide, exclusive patent rights. ChromaDex has initiated a clinical study on this new product, pTeroPure pterostilbene (http://www.pteropure.com/). For more information, visit http://www.chromadex.com/ or follow ChromaDex on Twitter @ChromaDex.
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SOURCE ChromaDex Corporation