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LOS ANGELES, Oct. 11, 2019 (GLOBE NEWSWIRE) -- ChromaDex Corp. (NASDAQ:CDXC) issued the following statement.
We would like to take this opportunity to comment on the latest order from the California court regarding the ongoing litigation with Elysium. This started as a breach of contract matter and then a patent infringement case. Through discovery, we learned of egregious behavior by Elysium related to the theft of trade secrets and confidential information including text messages revealing unethical conduct and a stated intention to “destroy” ChromaDex.
In his order, the judge seeks additional information about how ChromaDex was damaged by the theft, and we look forward to answering his questions. Elysium’s actions are in stark contrast to the image it attempts to portray. We encourage its customers, investors, and advisors to digest the public record that reveals the true character and conduct of those leading that company.
ChromaDex will also continue to aggressively enforce its intellectual property rights in the pending infringement case regarding patents Elysium unsuccessfully challenged before the US Patent & Trademark Office (USPTO).
Since the start of the California litigation, ChromaDex has become the global consumer brand leader in nicotinamide riboside. We accomplished this by being committed to safety, science and research, and partnering with world-class global CPG and retail business leaders. With more than $35 million invested in patents, science and safety, ChromaDex has secured regulatory approvals from governments around the world including the USFDA, European Food Safety Authority (EFSA), and Health Canada.
ChromaDex Corp. is a science-based integrated 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®. ChromaDex maintains a website at www.chromadex.com to which ChromaDex regularly posts copies of its press releases as well as additional and financial information about the Company.
Important Note on Forward Looking Statements:
This statement contains forward-looking statements 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. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include statements regarding the nature of the California litigation, the evidence that ChromaDex will submit in the California litigation, ChromaDex’s litigation strategy in the California, Delaware and USPTO litigation and building global expansion and the global Tru Niagen brand. Other risks that contribute to the uncertain nature of the forward-looking statements are reported in our most recent Forms 10-Q and 10-K as filed with the SEC. 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 statement to reflect events or circumstances after the date hereof.
ChromaDex Media Contact:
Alex Worsham, Senior Director of Global Corporate Communications
310-388-6706 ext. 689
ChromaDex Investor Relations Contact:
Brianna Gerber, Vice President of FP&A and Investor Relations
949-419-0288 ext. 127