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Martek Biosciences history
Martek Biosciences company history timeline
In 1985, Martin Marietta Corporation, saddled with debt from a complicated series of anti-takeover measures, engaged in streamlining its operations.
In January 1986, Suburban Capital Corp. led a team of outside investors to advance $750,000 to Martek in return for a 35 percent stake in the company.
Revenues were small--$850,000 in 1988--but there was hope for more.
In 1988, Martek was selling its oils in Japan to lubricate the bearings of gyroscopes which guided machines that dug tunnels for optical cables.
Martek moved into new offices in 1989.
In 1989, Martek entered into a relationship with Oxford Partners of Stamford, Connecticut, and a group of five other investors.
These two innovations led to Martek’s first license agreement, in 1992, for the use of life’sDHA and life’sARA. A year later, after entering into similar agreements with two more infant-formula firms, Martek achieved the holy grail of corporate success: it went public.
According to the company's chief financial officer, quoted in a 1994 Baltimore Business Journal article, Martek was different, however.
In late 1994, Martek introduced another product.
↑ Martek, United States Patent 5,407,957, corporate patent, attained April 18, 1995
1995: Started manufacturing its first docosahexaenoic acid (DHA), an omega-3 fatty acid and arachidonic acid (ARA) products in its Winchester, Ky., plant
In 1996, it had experienced a loss of $8.9 million.
The company also started selling DHA dietary supplements, under the name Neuromins, to supplement diets low in foods that contain DHA. General Nutrition Center, a United States chain, started selling Neuromins capsules nationwide in 1997.
By 1997, Martek had licensing agreements to provide it DHA- and ARA-rich oil to six infant formula manufacturers that together represented more than 40 percent of the infant formula market.
In 1997, it had a net loss of $15.4 million with revenues of $4.4 million.
The January 1998 issue of Pediatrics cited DHA as the "likely" breast milk component responsible for the improved academic outcomes and visual acuity of breast-fed children.
By 1998, somewhere in the vicinity of 50 companies worldwide included Martek's oils in their pre-term infant formulas, and the company signed two more licensing agreements with companies in Australia to include its oils in full-term infant formulas.
Martek also sold the assets of its stable isotope business to Spectra Gases in 2001 in order to concentrate on its other products.
2001: Received United States Food and Drug Administration GRAS (Generally recognized as safe) for its DHA & ARA for use in U.S infant formula
Wal-Mart introduced its DHA-enriched label infant formula line, Parent's Choice, in 2003 by which time Martek had licensees in more than 60 countries.
2003: The company acquires FermPro Manufacturing, L.P. and enters into an agreement with SemBioSys Genetics Inc. of Canada.
In 2006, according to the Washington Post, FDA staff members determined that the companies producing organic baby formula were not permitted to add DHA and ARA to their formulas, both of which are Martek products.
In 2008, the Cornucopia Institute analyzed scientific studies and concluded that there was little evidence to support Martek's claims that DHA and ARA additives benefit brain and eye development.
↑ Martek Biosciences, Martek, General Mills Collaborate on Microencapsulation Technology for Food Applications, corporate press release, February 3, 2009
However, none of the companies selling formula and other products containing the DHA and ARA oils have monitored reactions to these products and reported back to the FDA, according to the 2009 results of a FOIA request made by Cornucopia.
↑ Jump up to: 3.0 3.1 3.2 Dutch company to buy Martek for $1.1 billion Baltimore Sun, December 21, 2010
In 2010, Cornucopia again reviewed the literature, including a comprehensive meta-analysis published in the Cochrane Database of Systematic Reviews shortly after the first report.
He also received $2.5 million in "severance and change-of-control agreements." Its annual net sales were about $450 million in 2010.
GMO Ingredients in Organic Baby Food?, organizational report, November 30, 2011.
↑ Martek, About, corporate website, accessed February 17, 2012
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| Neurocrine Biosciences | 1992 | $2.4B | 400 | 258 |
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| 454 Life Sciences | 2005 | $19.4M | 100 | - |
| Celera | 1998 | - | 750 | - |
| CIMA Labs | 1986 | $8.5M | 120 | 15 |
Martek Biosciences history FAQs
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