COLUMBIA, Md., Sept. 18 Martek BiosciencesCorporation (Nasdaq: MATK) announced today that it has entered into amulti-year DHA and ARA license and supply agreement with Hero, aninternational consumer-foods company. Hero is the parent company of Semper, anexisting Martek licensee for infant formula, and Beech-Nut, a Martek foodcustomer that includes Martek's life'sDHA(TM) in a line of baby foods andcereals.
Under the terms of the agreement, Martek will serve as Hero's exclusivesupplier for all of its ARA and DHA needs for infant formula products andgrowing-up milks intended for children up to three years of age, dietary foodsfor special medical purposes, and for weaning foods.
"This new agreement with Hero is another important step in Martek's effortto expand its international presence in the infant formula market," said EthanLeonard, vice president of pediatric nutrition for Martek. "We are pleased tobe working with Hero and believe this agreement again demonstrates thatcompanies around the world continue to recognize the importance of addingMartek's trusted sources of DHA and ARA to products for infants and children."
Founded in Lenzburg, Switzerland in 1886, Hero is an internationalbrand-focused, consumer-foods group. Hero is positioned as a nutrition companywith strong brands in its core categories of infant nutrition and fruit aswell as cereals, decoration and glutenfree. Hero's operations are basedpredominantly in Europe, North America, Africa/Middle and Turkey/Central Asia.In 2007, the group generated revenues in excess of CHF 1.85 billion withapproximately 3,500 employees in more than 30 countries. For more informationon Hero, visit http://www.hero.ch.
Martek manufactures nutritional oils that contain the long-chainpolyunsaturated fatty acids DHA and ARA, both of which are naturally presentin breast milk. Clinical studies have demonstrated benefits for infantsreceiving formula supplemented with DHA and ARA. Martek's proprietary blend ofDHA and ARA, marketed under the brand names life'sDHA and life'sARA(TM), iscurrently used in over 95 percent of U.S. infant formulas. Additionally,infant formula containing life'sDHA and life'sARA has been consumed by over 30million infants in over 75 countries worldwide.
Martek Biosciences Corporation (Nasdaq: MATK) is a leader in theinnovation and development of DHA omega-3 products that promote health andwellness through every stage of life. The company produces life'sDHA, asustainable and vegetarian source of the omega-3 fatty acid DHA(docosahexaenoic acid), for use in foods, beverages, infant formula, andsupplements. The company also produces life'sARA (arachidonic acid), anomega-6 fatty acid, from a sustainable, vegetarian source, for use in infantformula. For more information on Martek Biosciences Corporation, visithttp://www.martek.com.
Sections of this release contain forward-looking statements. Thesestatements are based upon numerous assumptions which Martek cannot control andinvolve risks and uncertainties that could cause actual results to differ.These statements should be understood in light of the risk factors set forthin the company's filings with the Securities and Exchange Commission,including, but not limited to, the company's Form 10-K for the fiscal yearended October 31, 2007 and other filed reports on Form 10-K, Form 10-K/A, Form10-Q and Form 8-K.Contact: Cassie France-Kelly Public Relations (443) 542-2116 [email protected]
Kyle Stults Investor Relations (410)740-0081 [email protected]
SOURCE Martek Biosciences Corporation