COLUMBIA, Md., Aug 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Martek Biosciences Corporation (MATK) announced today that infant formula companies Pasteur Milk Co., Ltd. and Semper AB have signed license agreements for use of Martek's docosahexaenoic acid (DHA) and arachidonic acid (ARA) in infant formula. Pasteur's license covers South Korea and Semper's license includes Finland, Sweden, Latvia and Lithuania.
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 those infants receiving DHA and ARA supplemented formula. Martek's proprietary blend of DHA and ARA is the only source of these nutrients that the FDA has cleared for use in U.S. infant formula, and is currently being sold by the Company's licensees in supplemented formulas in over 60 countries around the world.
"Formula companies worldwide continue to recognize the value of adding Martek's DHA and ARA to infant formula," said Henry "Pete" Linsert, Jr., Chairman and CEO of Martek Biosciences Corporation. "These two agreements should soon lead to infant formulas containing Martek's oils in new areas of the world."
Martek Biosciences Corporation (MATK) develops, manufactures and sells products from microalgae. The Company's products include: (1) specialty, nutritional oils for infant formula that aid in the development of the eyes and central nervous system in newborns; (2) nutritional supplements and food ingredients that may play a beneficial role in promoting mental and cardiovascular health throughout life; and (3) powerful fluorescent markers for diagnostics, rapid miniaturized screening, and gene and protein detection. For more information, visit http://www.martekbio.com.
This press release contains forward-looking statements regarding the commercialization of Martek's products. Such statements involve risks and uncertainties that could cause future actual results to differ due to a variety of risk factors, including without limitation those factors set forth in Martek's filings with the Securities and Exchange Commission.