Chromadex Corp (OTCMKTS:CDXC) revealed that it has completed a worldwide license and supply agreement for ‘Suntava Purple Corn.’ It is a product which is obtained from a ‘non-GMO’ purple corn hybrid. The product shows-off a deep purple color and is believed to be rich in antioxidants. The reason behind the purple color is the existence of high anthocyanin content in the product. Purple Corn is grown in the U.S. and is produced, developed and handled utilizing the contemporary, efficient procedures and tools.
The main objective of ChromaDex is to get an extraction procedure to concentrate the content of anthocyanins in Suntava Purple Corn. It will then be used to cultivate an ingredient that will have high concentrations of anthocyanin. As of now, the plan is to take the assistance of expert and experienced toll manufacturer to develop the targeted commercial ingredient. The company believes there is a ready market for concentrated anthocyanins which extends from dietary supplements, skin care market to sports nutrition and food & beverage industry.
The expert view
Suntava CEO, Bill Petrich expressed that they are delighted to be partnered with ChromaDex. Their team has expertise in commercializing novel ingredient technologies. Suntava looks forward to work diligently with ChromaDex as they continue to work on new applications and advanced versions of Purple Corn. Expressing his opinion, Frank Jaksch, the CEO stated that anthocyanins have many wellness and health benefits.
The only concern is the cost of concentrated anthocyanins which narrows the customer’s awareness and interest towards the product. Purple Corn can be a game changer as it offers raw material cost benefits and helps firm to create an ingredient that can be offered below the prices of other similar products.
In last trading session, the stock price of Chromadex Corp (OTCMKTS:CDXC) declined 0.64% to close the trading session at $1.24. The decline came at a share volume of 161,144 compared to average share volume of 112,952.