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NAD+ is a coenzyme that plays an important role in cellular energy production. It helps to regulate cellular metabolism and is essential for the proper functioning of mitochondria. NAD+ is also believed to play a critical role in healthy aging and is an area of active research, with hundreds of published clinical studies relating to NAD+ and its impact on aging and aging-related diseases as levels of NAD+ in the human body have been observed to decline by over 50% between just young adulthood and middle age.
Fortunately, data from numerous studies show that nicotinamide riboside (NR) is a highly efficient molecule that significantly raises NAD+ levels in blood and tissues. NR is a form of vitamin B3 and is a precursor to NAD+. By leveraging this data, ChromaDex developed and commercialized Niagen in 2013. Niagen is a proprietary form of NR that has demonstrated numerous health outcomes like increased NAD+ levels, enhanced body composition, and improved cellular energy production through clinical trials. It has been approved for use by the U.S. Food and Drug Administration (FDA), Health Canada, the Australian Therapeutic Goods Administration, and the European Commission.
In 2017, ChromaDex commercialized its consumer product, Tru Niagen, which contains the active Niagen ingredient. Although the company still sells Niagen in ingredient form to its strategic business partners like Nestle, ChromaDex’s main objective now is to promote and sell Tru Niagen globally. ChromaDex seeks to obtain additional regulatory approval to continue international expansion and plans to use both its own E-commerce platform and the available channels of strategic regional partners to reach customers. Currently, ChromaDex offers its Tru Niagen dietary supplement in both bottle and stick pack form for consumption.
To advance its research capabilities and commercialization potential, ChromaDex is continuing to expand its network. The company has already gathered over 250 research partnerships with leading institutions like the National Institute of Health, Mayo Clinic, Cornell, Harvard, and the University of Cambridge. ChromaDex has also recently established key corporate partnerships to further its operations in the major country markets of Brazil and Mainland China. The company has agreed to a partnership with MyPharma2Go Corporation for cross-border sales in Brazil, and a joint venture with Sinopharm Xingsha to accelerate cross-border sales of Tru Niagen in Mainland China where the product won the “Most Popular Brand of the Year Award” at China’s 2022 International Natural Health & Nutrition Expo.
ChromaDex and its Tru Niagen product are not without competition, though. Elysium Health sells a similar product to Tru Niagen and there are a handful of other companies also promoting NAD+ enhancing products.
Despite having generated revenue from commercialized products for around a decade, ChromaDex has a history of operating losses. The company expects to continue this trend for the foreseeable future as it carries out operations like further product research and development, global marketing campaigns, developing its proprietary E-commerce platform, and establishing global manufacturing supply chains. If necessary, ChromaDex could seek additional funding through collaboration agreements, drawing on its $10 million line of credit with Western Alliance Bank, or through additional equity offerings through its $50 million At Market Issuance Sales Agreement with B. Riley FBR, Inc. and Raymond James & Associates, Inc.
ChromaDex’s future success is hinged on its ability to promote Tru Niagen and garner acceptance of the product on a global scale. According to Grand View Research, the global dietary supplements market is expected to be driven by a strong compound annual growth rate of 8.9% through 2030. Therefore, the underlying demand for health supplements is there and Tru Niagen has massive potential to provide an effective solution for consumers seeking to enhance their healthspan. Considering the notable partnerships the company has formed and the depth of international markets it already has access to, ChromaDex and Tru Niagen are well-positioned to capitalize on the emerging market for NAD+ supplements.