ChromaDex Corp., a leader in phytochemical reference standards and contract research, announced today that the National Science Foundation awarded the Company a $100,000 Small Business Innovation Research (SBIR) Grant to further the development of several plant-based antioxidants called anthocyanins for commercial use in pharmaceutical, nutraceutical, functional food, natural chemical and cosmetic products. This Phase I proof of concept grant is effective July 1 through December 31, 2009.
The project, entitled "SBIR Phase I: Microbial Production of Selected Anthocyanins," will prove the viability of selectively manufacturing anthocyanins, leucoanthocyanidins and anthocyanidins. These compounds are naturally occurring pigments and antioxidants that can be used as natural colorants, possibly aid in controlling blood glucose levels to assist with weight management and diabetes, and provide similar benefits to the hotly discussed super-fruit compound found in red wine, resveratrol.
"We are honored to have our work recognized by the National Science Foundation in the form of a research award," said Frank Jaksch, co-founder and CEO of ChromaDex. "This is the first step in validating the production of these anthocyanins, and based on the success of this research, we look forward to 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 produce and market the three classes of plant-based ingredients for nutraceutical, functional food, beverage, natural chemical, cosmetic and pharmaceutical industries. 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 plans to license this novel technology to food, beverage, pharmaceutical and supplement manufacturers to meet growing demands for natural, plant-based ingredients in the marketplace and will also evaluate opportunities to collaborate or partner the technology for expanded applications.
About National Science Foundation Funding
The National Science Foundation funds research and education in most fields of science and engineering. It does this 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 world leader in the development of Phytochemical and Botanical Reference Standards and the creation of associated intellectual property. ChromaDex is committed to sustainable "Green chemistry" and provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the analytical tools and services to meet product regulatory, quality, efficacy and safety standards.
Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to ability to market, produce and sell the referenced ingredients, risks relating to product and customer demand, market acceptance of our products, the effect of economic conditions both nationally and internationally, ability to protect our intellectual property rights, impact of any litigation or infringement actions brought against us, competition from other providers and products, risks in product development, our ability to raise capital to fund continuing operations, the ability to complete transactions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.