Video: ChromaDex Sells BluScience to NeutriSci

IRVINE, Calif.Natural products ingredients supplier ChromaDex® Corporation plans to sell its BluScience consumer product line to NeutriSci International. The company announced its letter of intent on Feb. 25, 2013.

Frank Jaksch, CEO and Founder of ChromaDex, said he looks forward to working the NeutriSci for its BluScience line. "By launching the BluScience consumer products, we achieved our primary goal of increasing the awareness of pTeroPure," he said. "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."

Here more from Jaksch on the sale in the INSIDER video below.

The transaction is valued at $6.0 million, and the companies expect to close the deal by March 31, 2013.

NeutriSci plans to introduce BluScience to Southeast Asia first, then expand globally, according to Keith Bushfield, NeutriSci president and CEO.

"We are pleased and excited that we were able to find such a strong strategic partner as ChromaDex," he said. "We feel ChromaDex has built a brand in BluScience that offers what consumers requirea clinically proven product line backed by strong scientific research and development. The consumer can be confident in both the efficacy and safety of this amazing natural line of health and wellness products."

The transaction includes a supply agreement with NeutriSci for ChromaDex's patented pTeroPure pterostilbene, the key ingredient in the BluScience product line. ChromaDex released the blueberry ingredient in April 2010; in 2012 researchers from the University of Mississippi Medical Center found pTeroPure significantly reduced blood pressure in adults.

With the sale, Jaksch said ChromaDex will continue to invest in clinical data and develop production processes, noting, "The sale of our BluScience product line will allow ChromaDex to focus on selling and marketing our pTeroPure ingredient, as well as accelerate the development of our novel ingredients pipeline."