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Supplement Maker Broadens Its Footprint in Asia

Supplement maker ChromaDex Corp.’s rapid expansion in Asia speaks to the importance of choosing the right type of investors.

The company’s flagship, Tru Niagen, is said to have antiaging benefits.

ChromaDex raised its profile following a $25 million investment last year by Hong Kong billionaire Li Ka-Shing. Li, whose multinational conglomerate, CK Hutchison Holdings, owns A.S. Watson, is bringing the product to a second Asian market following Hong Kong.

The U.S.-made dietary supplement launched in Singapore this month and is available in stores and online. Watson has 10 stores in Singapore.

The proportion of Singapore residents 65 and older increased from 8.5 % in 2007 to 13% last year, according to the Department of Statistics of Singapore.

“The aging population in Singapore is growing quickly—expanding into this market with Watsons is an important move for our global strategy,” said Chief Executive and co-founder Frank Jaksch. He told the Business Journal in an earlier interview that having a high-profile investor like Li “brings a lot more to the table than just the money.”

ChromaDex’ entry into the Hong Kong region includes Macau—totaling about 50 stores.

The key ingredient in Tru Niagen is nicotinamide riboside, which is said to have antiaging benefits through improving overall energy production, feelings of well-being, energy and cognitive function.

The product retails at $69.90 for a single bottle and $178.25 for a set of three.

ChromaDex also plans to develop a clinical pipeline focused primarily on ultra-rare pediatric diseases, including Cockayne’s syndrome. The disease is characterized by growth failure, impaired development of the nervous system, photosensitivity, eye disorders and premature aging.

The company received another $23 million last year through a private placement following Li’s investment. The financing is led by multifamily office ICONIQ Capital LLC in San Francisco. The exclusive members-only fund has a client base that includes Facebook founder Mark Zuckerberg.

Better Care

Masimo Corp. is right on track in addressing the need to monitor and track patients more effectively outside of hospitals to ensure better care. The Irvine-based patient monitoring device maker announced it secured Food and Drug Administration clearance for its Rad-97 Pulse CO-Oximeter for home use.

The device, which incorporates NomoLine capnography and noninvasive blood pressure monitoring technology from SunTech Medical Inc. in Morrisville, N.C., got FDA clearance—for the device itself—in September.

Rad-97 is more compact, featuring a multitouch display, built-in Wi-Fi, and Bluetooth wireless connections to other devices, such as thermometers, glucometers and weight scales. It also comes with an optional camera that allows clinicians to remotely interact with patients over live audio and video.

“Rad-97 is well-suited for a variety of care settings, now including home,” said Chief Executive Joe Kiani in a statement. He said the device enables clinicians to remotely monitor a patient’s status and “spot trends from afar through automated data collection and transfer.”

Kiani is also chief executive of Cercacor Laboratories Inc. in Irvine, which makes a noninvasive monitoring device targeting endurance athletes.

Restasis Update

Allergan PLC, which is still grappling with the aftereffects of transferring its Restasis patents to a Native American tribe, said at the J.P. Morgan healthcare conference in San Francisco this month that it doesn’t anticipate a generic entry for its blockbuster dry-eye drug before the second quarter.

The company said it will cut over 1,000 jobs in preparation for losing patent exclusivity for Restasis—it generated nearly $1.5 billion in revenue in 2016, second to Botox’ nearly $2.8 billion.

Dental Plan

Orange-based Western Dental added an office in Covina that will provide a full range of dental services, including dentistry and orthodontics.

Western Dental is one of the largest dental services providers, with 244 locations in California, Arizona, Nevada and Texas. In California, it’s the leading service provider in the Denti-Cal program, which is part of the Medi-Cal public insurance program that provides healthcare benefits to low-income individuals and families. It has 102 offices in Southern California, including 12 in Orange County.

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