Martek One of Only Eight Companies Inducted into the Inaugural SBIR Hall of Fame
Martek Biosciences Corporation, a leader in the innovation, development, production and sales of high-value products from microbial sources that promote health and wellness through nutrition, announced that it has been inducted into the inaugural Small Business Innovation Research (SBIR) Hall of Fame, a program under the U.S. Small Business Administration. Martek Biosciences was recognized for its success in research, innovation and commercialization within the SBIR program. Martek was honored at the national inductee ceremony held on February 15, 2011 in Washington, DC, followed by a White House reception, reports www.megafishnet.com with reference to Martek.
"We are honored to be one of only eight companies inducted into the first-ever SBIR Hall of Fame," said Steve Dubin, CEO of Martek Biosciences. "Our success over the past 26 years has been realized in part from the funding and support we received through the SBIR program during our early start-up stage. What started with a few visionary and passionate scientists is now a company with more than 600 employees, revenues of more than $450 million and a thriving and robust technology pipeline."
SBIR is a highly-competitive program that encourages small businesses to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit and grows jobs as it meets its specific research and development needs.
All SBIR Hall of Fame award winners were selected by the SBA based on the recommendations of a panel of judges. Inductees were evaluated based on a company's technical innovation, business impact, broader social and economic benefit, degree of impact and longevity.
Martek Biosciences Corporation (Nasdaq: MATK) is a leader in the innovation, development, production and sales of high-value products from microbial sources that promote health and wellness through nutrition. The company is the world's leading provider of algal DHA omega-3 with its flagship product, life'sDHATM, a sustainable and vegetarian source of algal DHA omega-3 important for brain, heart and eye health throughout life, for use in foods, beverages, infant formula, and supplements. The company also produces life'sARATM (arachidonic acid), an omega-6 fatty acid, for use in infant formula and growing up milks. Additionally, Martek's subsidiary, Amerifit Brands, develops, markets and distributes branded consumer health and wellness products in major mass, club, drug, grocery and specialty stores and holds leading brand positions in all of its key product categories.
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, 2010 and other filed reports on Form 10-K, Form 10-K/A, Form 10-Q and Form 8-K.