Shelly Albaum
Feb 4, 2017
Elysium answered Chromadex's breach of contract complaint with an angry counterclaim for breach of contract and fraud, and they hired Big Guns law firm Skadden Arps to do it. At least now we know why Elysium needed to raise $20M!
You can read Elysium's answer for yourself right here.
My take is that Elysium is asserting the following:
(1) Chromadex falsely promised Elysium preferential pricing;
(2) Chromadex falsely claimed that all other suppliers were required to license the Niagen trademark; and
(3) Chromadex should not have been requiring trademark licensing anyway.
Therefore, Chromadex allegedly owes money to Elysium and Chromadex should not be allowed to assert their Nicotinamide Riboside patents against Elysium.
We won't be able to judge the merits of the dispute without seeing the evidence, and who knows what the legal authorities say about the patent and trademark licensing issues (not me).
But I doubt anyone is going to be impressed by Elysium's bid to paint itself as smelling like roses and Chromadex as some oppressive titan.