COLUMBIA, Md., Oct 09, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- DHA omega-3 innovator Martek Biosciences Corporation announced today that it has entered into a long-term license and supply agreement with WhiteWave Foods Company. Under the terms of the 15-year agreement, WhiteWave is planning to develop certain soy beverages containing Martek's flagship product, life'sDHA(TM). WhiteWave has agreed to purchase, subject to certain circumstances, all of its DHA omega-3 needs from Martek for these products in the United States and other designated territories. There are no minimum purchase requirements or other financial commitments to Martek. WhiteWave intends for the initial launch of a product containing life'sDHA(TM) to take place during 2007. For all products containing life'sDHA(TM), WhiteWave will display the life'sDHA(TM) logo on the product packaging, and it will also include the life'sDHA(TM) logo in related marketing, advertising and promotional materials.
"Martek finds it rewarding to partner with a leading consumer packaged goods company such as WhiteWave that recognizes the value and benefits of Martek's life'sDHA(TM). I believe that Martek's agreement with WhiteWave is another step forward towards the widespread use of Martek's life'sDHA(TM) in a variety of food and beverage products," said Steve Dubin, CEO of Martek Biosciences Corporation. "We look forward to working with WhiteWave, a leader in corporate citizenship that is known for manufacturing innovative, authentic and nutritious branded food products through socially and environmentally responsible practices."
Life'sDHA(TM) is a sustainable, vegetarian source of DHA (docosahexaenoic acid) omega-3, a long chain omega-3 fatty acid that supports brain, eye and cardiovascular health throughout life. There is a large and growing body of scientific evidence demonstrating that people of all ages, from infants to aging adults, benefit from an adequate supply of DHA omega-3 in the diet. Several recent scientific reviews have noted the importance of DHA omega-3 in proper brain and eye function, as well as its potential role in decreasing the prevalence of certain neurological disorders. Yet despite its importance, Americans have among the lowest dietary intake of DHA omega-3 in the world.
Martek Biosciences Corporation (Nasdaq: MATK) 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(TM), a vegetarian source of the omega-3 fatty acid DHA omega-3, for use in foods, beverages, infant formula, and supplements, and ARA (arachidonic acid), an omega-6 fatty acid, for use in infant formula. For more information on Martek Biosciences, visit http://www.martek.com.
Sections of this release contain forward-looking statements concerning, among other things, expectations regarding customer product launches and widespread use of Martek's DHA. 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-Q for the fiscal quarter ended July 31, 2006 and other filed reports on Form 10-K/A, Form 10-Q and Form 8-K.