Martek Biosciences Corporation announced today that it has entered into a multi-year DHA and ARA license and supply agreement with Hero, an international consumer-foods company. Hero is the parent company of Semper, an existing Martek licensee for infant formula, and Beech-Nut, a Martek food customer that includes Martek's life'sDHA(TM) in a line of baby foods and cereals.
Under the terms of the agreement, Martek will serve as Hero's exclusive supplier for all of its ARA and DHA needs for infant formula products and growing-up milks intended for children up to three years of age, dietary foods for special medical purposes, and for weaning foods.
"This new agreement with Hero is another important step in Martek's effort to expand its international presence in the infant formula market," said Ethan Leonard, vice president of pediatric nutrition for Martek. "We are pleased to be working with Hero and believe this agreement again demonstrates that companies around the world continue to recognize the importance of adding Martek's trusted sources of DHA and ARA to products for infants and children."
Founded in Lenzburg, Switzerland in 1886, Hero is an international brand-focused, consumer-foods group. Hero is positioned as a nutrition company with strong brands in its core categories of infant nutrition and fruit as well as cereals, decoration and glutenfree. Hero's operations are based predominantly in Europe, North America, Africa/Middle and Turkey/Central Asia. In 2007, the group generated revenues in excess of CHF 1.85 billion with approximately 3,500 employees in more than 30 countries. For more information on Hero, visit http://www.hero.ch.
Martek manufactures nutritional oils that contain the long-chain polyunsaturated fatty acids DHA and ARA, both of which are naturally present in breast milk. Clinical studies have demonstrated benefits for infants receiving formula supplemented with DHA and ARA. Martek's proprietary blend of DHA and ARA, marketed under the brand names life'sDHA and life'sARA(TM), is currently used in over 95 percent of U.S. infant formulas. Additionally, infant formula containing life'sDHA and life'sARA has been consumed by over 30 million infants in over 75 countries worldwide.
Martek Biosciences Corporation is a leader in the innovation and development of DHA omega-3 products that promote health and wellness through every stage of life. The company produces life'sDHA, a sustainable and vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, beverages, infant formula, and supplements. The company also produces life'sARA (arachidonic acid), an omega-6 fatty acid, from a sustainable, vegetarian source, for use in infant formula. For more information on Martek Biosciences Corporation, visit http://www.martek.com.
Sections of this release contain forward-looking statements. These statements are based upon numerous assumptions which Martek cannot control and involve risks and uncertainties that could cause actual results to differ. These statements should be understood in light of the risk factors set forth in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's Form 10-K for the fiscal year ended October 31, 2007 and other filed reports on Form 10-K, Form 10-K/A, Form 10-Q and Form 8-K.