IRVINE, Calif., Oct. 28 /PRNewswire-FirstCall/ -- ChromaDex Corporation (OTC Bulletin Board: CDXC), a leader in the development of phytochemical and botanical reference standards and the creation of associated intellectual property, announced today that the Company appointed William F. Spengler to President of the Company, effective November 15, 2010. Mr. Spengler brings a strong and diversified background to the position, having held leadership roles in pharmaceutical companies such as Guilford Pharmaceuticals, MGI Pharma, and Bristol-Myers Squibb as well as Endo Pharmaceuticals where he currently serves as a Director. In his new role, Mr. Spengler will have responsibility for the expansion and implementation of the company's strategy as ChromaDex increases its leadership position in the natural products industry.
"Bill has demonstrated success in his previous positions both in pharmaceutical and non-pharmaceutical industries," said Frank Jaksch, CEO and co-founder of ChromaDex. "He has strong strategic and general management skills, combined with vast experience working in the public markets. We believe that this experience will be extremely important in support of the growth of the Company."
"The natural products and phytochemical industry holds extraordinary growth potential," said Spengler. "ChromaDex has both the scientific base and the strong and growing portfolio of licensed compounds necessary to enable it to become a market leader across an array of potential distribution channels. I am enthusiastic about the opportunity this asset combination presents, and I look forward to working with Frank, the ChromaDex executive team and board to move this business forward."
Mr. Spengler is currently the Executive Vice President, Chief Financial Officer, and Treasurer of Smith & Wesson Holding Corporation, a position he will be completing prior to joining ChromaDex on November 15. Mr. Spengler was previously the Executive Vice President and Chief Financial Officer of MGI PHARMA, Inc. from April 2006 until January 2008, and was Senior Vice President, International & Corporate Development of MGI PHARMA from October 2005 to April 2006. From July 2004 to October 2005, Mr. Spengler was Executive Vice President and Chief Financial Officer of Guilford Pharmaceuticals Inc. prior to its acquisition by MGI PHARMA in October 2005. From May 2002 to June 2004, Mr. Spengler was President, Chief Operating Officer and director of Osteoimplant Technology, Inc. Mr. Spengler was previously a Vice President of Finance at Black & Decker, and prior to that spent 14 years in various finance, planning and business development positions at Bristol Myers Squib. Mr. Spengler currently serves on the Board of Directors of Endo Pharmaceuticals, a publicly traded pharmaceutical company. He holds a BA in Economics from Yale University and an MBA from New York University's Stern School of Business.
ChromaDex is a leader in the development of phytochemical and botanical reference standards and the creation of associated intellectual property. ChromaDex is committed to sustainable "green chemistry" and provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the novel ingredients, analytical tools and services to meet product regulatory, quality, efficacy and safety standards. Among other things, the Company is currently focusing on clinical studies and the commercialization of its new product, pTeroPure™ pterostilbene (http://www.pteropure.com/) as a result of its exclusive worldwide patent rights for pterostilbene. For more information, visit http://www.chromadex.com/ or follow ChromaDex on Twitter @ChromaDex.
Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to: the ability to market, produce and sell the referenced ingredients; risks relating to product and customer demand, market acceptance of our products; the effect of economic conditions both nationally and internationally; the ability to protect our intellectual property rights; the impact of any litigation or infringement actions brought against us; competition from other providers and products; risks in product development; our ability to raise capital to fund continuing operations; the ability to complete transactions; and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
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SOURCE ChromaDex Corporation