Benzinga | Oct 1, 2021 06:34AM EDT

ChromaDex Reports Jury In California Found Elysium Health Breached Its Contract With ChromaDex; Elysium, Mark Morris Will Pay Co. ~$2.25M-$2.5M In Damages, Estimated Interest

Elysium Health to pay ChromaDex approximately $2.25 to $2.50 million in damages plus interest for breach of contract

New partnership with Sinopharm Xingsha and recent partnerships with Walmart, H&H Group, and Ro to support next phase of growth

LOS ANGELES--(BUSINESS WIRE)-- ChromaDex Corp. (NASDAQ:CDXC) today announced that a jury in the United States District Court for the Central District of California found that Elysium Health, Inc. ("Elysium") breached its contract with ChromaDex by failing to pay for product it ordered and received in 2016. Based on the jury's verdict, Elysium and Mark Morris will be required to pay ChromaDex approximately $2.25 to $2.50 million in damages and estimated interest.

"It took nearly five years and has been challenging for both companies, but the jury's decision finally holds Elysium accountable for paying what it owes," said ChromaDex CEO Rob Fried. "We now look forward to focusing on the next phase of global growth for Tru Niagen(r) with partners including Sinopharm Xingsha, Nestl? Health Science, Walmart, A.S. Watson Group, H&H Group, W.R. Grace, and Ro."

As the world's leading NAD+ company, ChromaDex has invested significantly in investigating, manufacturing and offering NR in the form of Niagen(r) and has secured or licensed over 40 patents relating to Niagen(r) and other NAD precursors, with more than 60 patents pending. The safety and/or efficacy of Niagen(r) has been demonstrated in 13 published human trials and has achieved government regulatory acceptance in the United States, Canada, the European Union, and Australia.

For additional information about ChromaDex, please visit www.chromadex.com.