Chromadex, Portfolio Company of yet2.com and Bayer, Now One of the Fastest-Growing Companies in the US, as Reported by Inc. Magazine.CAMBRIDGE, Mass. -- yet2.com connected Chromadex with Bayer in 2001 on a technology transfer agreement. yet2.com and Bayer hold equity stakes in Chromadex as a result of the deal. INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. Magazine named Chromadex as the 305th fastest growing company in the US, as stated in its November issue. Over the past 3 years Chromadex has had revenue grow 425%. Chromadex acquired technology from Bayer (NYSE NYSE See: New York Stock Exchange : BAY) through yet2.com to perform quality assurance on foods, beverages, cosmetics nutraceuticals, and vitamins. Bayer AG licensed its bioluminescence bioluminescence (bī'ōl  'mĭnĕs`əns), production of light by living organisms. , thin-layer chromatography thin-layer chromatography (TLC)Type of chromatography using as the stationary phase a thin layer (0.01 inch [0.25 mm]) of a special finely ground matrix (silica gel, alumina, or similar material) coated on a glass plate or incorporated in a plastic film. toxicity test kit, Bioluminex(TM) technology to ChromaDex in 2001. yet2.com and Bayer AG hold equity stakes in Chromadex as a result. "Developing a rapid, cost-effective toxicity screening test has been a main business objective, but developing it from scratch was cost-prohibitive, leading us to in-license. Until we discovered yet2.com, I did not know how easy it could be to find such technologies," said Frank Jaksch. president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ChromaDex. "By working out an all-equity deal with Bayer, we could quickly commercialize and generate revenue from Bioluminex(TM). "Bayer had the need for developing such a thin-layer chromatography bioluminescent bi·o·lu·mi·nes·cence n. Emission of visible light by living organisms such as the firefly and various fish, fungi, and bacteria. bi assay in-house to support our drug-discovery projects. We decided to offer this valuable technology utilizing yet2.com's marketplace for licensing, because we are obviously not a manufacturer and seller of lab supplies," said Ralf DuJardin, Portfolio Manager, at Bayer Innovation GmbH. "Bayer gained an introduction from yet2.com that led us to a fast-growing, innovative company, ready to extract the added-value from the R&D efforts we have pursued with our Bioluminex(TM) in the food market segment. We agreed on an equity-based license so that both of us will benefit from ChromaDex's product development and expanding portfolio of customers. Taken together, these new opportunities provide Bayer with a number of ways in which we can generate increased revenue for our shareholders." About ChromaDex ChromaDex serves the nutraceutical, dietary supplement, vitamin, and food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. industries in the areas of phytochemical phy·to·chem·i·cal n. A nonnutritive bioactive plant substance, such as a flavonoid or carotenoid, considered to have a beneficial effect on human health. reference standards, contract services, and scientific tools for toxicity screening and verification testing. ChromaDex is headquartered in Santa Ana, California Santa Ana is the most populous city in Orange County, California and is the county seat. It lies approximately 10 miles inland from the Pacific Ocean, on the largely seasonal Santa Ana River. , USA. See www.chromadex.com. About Bayer Bayer is a global enterprise with core competencies in the fields of health care, nutrition, and high-tech materials. The products and services are designed to benefit people and improve their quality of life. At the same time Bayer wants to create value through innovation, growth, and improved earning power. With some 93,000 employees the group generated sales of 23.3 billion Euros in 2004. Bayer Innovation GmbH, headquartered in Dusseldorf, has been established for the purpose of identifying and validating ideas for innovative products, developing them into viable business propositions and then selling them to units of the Bayer Group or, if more appropriate, to third parties. Bayer Innovation GmbH focuses on topics that correspond to the Group's core competencies but that are partly outside of the Group units' current areas of business activity. For more information, visit www.bayer.com and www.bayer-innovation.de. About yet2.com Yet2.com provides intellectual property consulting and licensing services from its offices in the US, Europe, and Japan, to world-class clients around the globe. Yet2.com Inc and its online marketplace were founded in 1999 to promote technology licensing and transfer, with joint investment from Siemens, Bayer, Honeywell, Dupont, Procter & Gamble, Caterpillar, and NTT NTT Nippon Telegraph and Telephone Corporation NTT New Technology Telescope NTT National Technology Transfer, Inc NTT Name That Tune (TV game show) NTT National Tree Trust NTT Number Theoretic Transform Leasing. Its clientele consists of a quarter of the Fortune 1000. For more information, visit www.yet2.com. |
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