COLLEGE PARK, Md., Dec. 23, 2010 /PRNewswire-USNewswire/ -- Martek Biosciences, a company that launched leveraging the Maryland Technology Enterprise Institute (Mtech) at the University of Maryland, entered an agreement on December 21 to be acquired by the Dutch company Royal DSM NV for $1.1 billion, the companies jointly announced.
Martek is the second company sold for more than $1 billion in the past three years that made extensive use of Mtech's venture-building and biotechnology programs during its early stages. Digene Corporation was acquired by Qiagen NV for $1.6 billion in 2007.
Martek is a leader in the innovation, development, production and sale of high-value products from microbial sources that promote health and wellness through nutrition. The company's flagship product is life'sDHA™, a sustainable and vegetarian source of algal docosahexaenoic acid (DHA) important for brain, heart and eye health throughout life for use in infant formula, pregnancy and nursing products, foods and beverages, dietary supplements and animal feeds.
In addition to Mtech's Technology Advancement Program (TAP) incubator, Martek leveraged Maryland Industrial Partnerships (MIPS) funding during the company's early stages to figure out how to scale-up its microbial processes through Mtech's Bioprocess Scale-Up Facility (BSF), which helps companies take bench-top or lab-produced products and prepare them for mass production.
"When I came to Mtech years ago, we had developed this fermentable algae," said Henry "Pete" Linsert, former chairman and CEO of Martek. "We were getting into the next stage where we said 'Will this stuff actually scale-up?' If it doesn't, we thought, if the economics aren't good, if it doesn't make pure products, if the organism doesn't grow, well -- we're sunk. We didn't have the e
|SOURCE Maryland Technology Enterprise Institute|
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