All change at ChromaDex again as CEO quits less than five months after taking helm

12-Jun-2012 - Last updated on 13-Jun-2012 at 14:14 GMT

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Himmel: 'I believe in ChromaDex's technology pipeline and future prospects'

ChromaDex chief executive Jeffrey Himmel has resigned less than five months after taking the helm at the California-based firm, along with chief operating officer Debra Heim, who joined the team in February.

Himmel, who invested $1m into ChromaDex when he joined in January 2012, has been replaced by the company’s co-founder and former CEO Frank Jaksch, who has spent the past five months in the role of chief scientific officer.

Jaksch will also assume the role of president - a position taken over by Himmel in February following the departure of William Spengler, who left to pursue other business interests after a 14-month stint at ChromaDex.

Himmel to resume role as chairman of Himmel Group

Himmel, a branding expert who will be resuming his role as chairman of the Himmel Group, was recruited to help ChromaDex turn its new BluScience range of supplements containing star ingredient pterostilbene (pTeroPure) into a powerful consumer brand.

Securing him was a “coup” for ChromaDex, said Spengler in January: "Jeff brings an exceptional track record to ChromaDex and is a renowned figure in the consumer healthcare products area. Simply put, adding Jeff as CEO is a coup for ChromaDex and its shareholders. I look forward to working side-by-side with him."

Himmel said: "While I have decided to step down as CEO of ChromaDex to resume my role as Chairman of the Himmel Group, I believe in ChromaDex's technology pipeline and future prospects.”

Jaksch: Our legacy business remains strong and is poised to expand

Jaksch said: "Having co-founded and spent more than a decade at ChromaDex, there has never been a time when I have had more enthusiasm for the company's potential for growth.

"I believe our legacy business remains strong and is poised to expand. I am most excited about our current efforts to develop novel compounds backed by intellectual property and human clinical studies, all with the aim of bringing healthy solutions for living to customers."

Leading ChromaDex investor Dr Phillip Frost added: “I have complete confidence in the ability of Frank Jaksch to expand the analytical services and reference standards business while leading the company in the continued early-stage discovery and subsequent commercialization of natural products for health."

Cardiovascular health, cognitive function and anti-aging

ChromaDex, which supplies phytochemical/botanical reference standards and materials and conducts analytical testing and contract research, also sells nutraceuticals from the antioxidant pterostilbene to Nicotinamide Riboside, a more potent version of niacin (vitamin B3).

The most advanced of these in commercial terms is pTeroPure, a branded nature identical formulation of pterostilbene targeted at manufacturers of dietary supplements and food/beverages interested in cardiovascular health, cognitive function and anti-aging.

However, ChromaDex has also moved into the retail/consumer market in recent months with the launch of its new BluScience branded line of supplements, which contain pTeroPure.

Launched at GNC last fall, they are now available in stores nationwide.

Pterostilbene is claimed to have superior biological activity, better oral bioavailability and metabolizes more slowly in the body than other polyphenols.

1 comment

Prospects for survival?

Posted by Stanley Fairchild, 20 July 2012 - 19:32 GMT

The company released it financials recently, and its pipeline may look promising, but unless they greatly increase sales and bring costs down dramatically, there will be no future for Chromadex as a company. They are losing millions on miniscule sales of these products.

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