COLUMBIA, Md., Jul 10, 2007 (BUSINESS WIRE) -- Advanced BioNutrition Corp. (ABN), a leader in science-based solutions to improve animal health and nutrition, announced today that it has entered into a new DHA License and Supply Agreement with Martek Biosciences Corporation (MATK) , a leader in the innovation and development of DHA omega-3 products that promote health and wellness at every stage of human life. Under the terms of the new Agreement, ABN will retain exclusive worldwide rights to market Martek's DHA into the aquatic animal sector. In addition, ABN has licensed certain technology to Martek and Martek will have exclusive worldwide rights to market DHA in the terrestrial animal sector. This new Agreement replaces the agreement previously entered into by Martek and ABN in August 2004.
"With this new relationship, we can now focus on what we believe to be the only truly sustainable and traceable alternative to the use of fishmeal and fish oil in aquaculture, ensuring the future growth of the industry without collapsing of the oceans fishery resources," said William F. Kirk, CEO and Chairman of ABN.
The rapidly growing aquaculture industry is now consuming 65% of all fishmeal and 90% of all fish oil produced by the world's reduction fishery. By 2010, it has been predicted that aquaculture alone will consume over 75% of all fishmeal and would require 110% of all fish oil currently produced worldwide. As a result of increased pressure on the world's fishery resources, the worldwide prices of fishmeal and fish oil have increased dramatically in the past year and supplies are becoming increasingly scarce.
"Over the past three years, ABN has demonstrated that the necessity of DHA in human nutrition is paralleled in other mammals, and Martek's DHA production capability coupled with ABN's technology and early market entry in these areas could significantly expand the market and provide better nutrition for agricultural as well as companion and performance animals," said Dr. David Kyle, Founder, President and Chief Science Officer of ABN.
Advanced BioNutrition is a leader in developing technology to improve animal health and functional nutrition in the aquaculture area. The company is headquartered in Columbia, MD. www.abn-corp.com.