COLUMBIA, Md., Sept. 24 (Nasdaq: MATK) -- MartekBiosciences Corporation announced today that it has entered into a multi-yearsole source supply agreement with Grupo Ricap. Martek will supply DHA and ARAin all infant formulas produced by Grupo Ricap in Mexico. Grupo Ricap is athird-party manufacturer of infant formula and Martek's life'sDHA &life'sARA(TM) will initially be available in infant formula products producedfor a large chain of pharmacies in Mexico and Guatemala.
"Sole-source agreements like this one further demonstrate that companiesacross the globe recognize the importance of adding Martek's trusted sourcesof DHA and ARA to infant formula and growing up milks for infant health anddevelopment," said Ethan Leonard, vice president of pediatric nutrition forMartek. "This product launch in Mexico and Guatemala is another step towardsMartek's goal of further expanding into new markets outside of the U.S."
Naturally present in human breast milk, DHA (docosahexaenoic acid), andARA (arachidonic acid) are fatty acids important to infant development andgrowth. Clinical studies have demonstrated numerous benefits for infantsreceiving DHA and ARA supplemented formula, including improved mental andvisual development. Martek's blend of DHA and ARA, life'sDHA & life'sARA, isthe only source of these nutrients currently used in U.S. infant formula, andis present in more than 95 percent of infant formula sold in the U.S.Additionally, Martek is a leading global supplier of DHA and ARA and infantformulas containing Martek's nutritional oils are available in more than 75countries worldwide.
Martek Biosciences Corporation is a leader in the innovation anddevelopment of DHA and ARA and has developed patented technology for theproduction and use of these ingredients. DHA omega-3 products promote healthand wellness through every stage of life and ARA omega-6 products supportgrowth and development in infants and children. The company produceslife'sDHA(TM), a sustainable vegetarian source of DHA omega-3, for use infoods, beverages, infant formula and supplements, and life'sARA(TM), asustainable vegetarian source of ARA omega-6, for use in infant formula andgrowing up milks. For more information on Martek Biosciences, visithttp://www.martek.com/. For more information on products containing life'sDHAand life'sARA, visit http://www.lifesdha.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, Martek (443) 542-2116 [email protected]
Kyle Stults Investor Relations, Martek (410) 740-0081 [email protected]
SOURCE Martek Biosciences Corporation