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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 4, 2000
MARTEK BIOSCIENCES CORPORATION
(Exact name of registrant as specified in its
charter)
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<S> <C> <C>
Delaware 000-22354 52-1399362
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(State or other jurisdiction of (Commission File (I.R.S. Employer
incorporation or organization) Number) Identification No.)
6480 Dobbin Road Columbia, Maryland 21045
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 740-0081
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(Former name or former address, if changed since last report)
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MARTEK BIOSCIENCES CORPORATION
ITEM 5. OTHER EVENTS.
On April 4, 2000, Martek Biosciences Corporation announced that it had
entered into a non-exclusive license agreement with Abbott Laboratories for
Martek's technology relating to the use of long-chain polyunsaturated fatty
acids in infant formulas. The agreement provides for initial cash payments and
would give Martek an ongoing royalty upon Abbott's introduction of products
using Martek's technology for docosahexaenoic acid and arachidonic acid. Further
information is contained in Martek's press release announcing the license
agreement, which is filed as an exhibit to this current report on Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits.
The following is filed as an exhibit to this current
report on Form 8-K:
99.1 Press Release dated April 4, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MARTEK BIOSCIENCES CORPORATION
Date: April 17, 2000 By: /s/ Peter L. Buzy
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Peter L. Buzy
Chief Financial Officer
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INDEX TO EXHIBITS
EXHIBIT
NUMBER
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99.1 Press Release dated April 4, 2000
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EXHIBIT 99.1
Martek Biosciences Corporation Contact: Peter L. Buzy
(410) 740-0081
Abbott Laboratories Contact: Mary Beth Arensberg, Ph.D.(U.S.)
(614) 624-3948
Laureen Cassidy (Outside U.S.)
(847) 938-7743
FOR IMMEDIATE RELEASE:
ABBOTT LABORATORIES AND MARTEK BIOSCIENCES CORPORATION SIGN LICENSE AGREEMENT
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ABBOTT PARK, Ill., and COLUMBIA, Md., April 4, 2000 -- Abbott Laboratories
(NYSE:ABT) and Martek Biosciences Corporation (NASDAQ:MATK) today announced that
the companies have signed a non-exclusive license agreement for Martek's
technology relating to the use of long-chain polyunsaturated fatty acids in
infant formulas. The agreement provides for initial cash payments and would give
Martek an ongoing royalty upon Abbott's introduction of products using Martek's
technology for docosahexaenoic acid ("DHA") and arachidonic acid ("AA").
"These are very exciting times at Martek with the addition of Abbott as a
licensee," said Henry Linsert, Jr., Chairman and CEO of Martek Biosciences
Corporation. "Abbott is a recognized worldwide leader in infant nutrition.
Martek is pleased to partner with Abbott."
"Access to this technology will allow Abbott to better evaluate and invest in
global infant formula product improvements," stated Xavier Frapaise, M.D., Vice
President Scientific and Medical Affairs, Abbott Laboratories International
Division.
Abbott Laboratories is a global, diversified health care company devoted to the
discovery, development, manufacture and marketing of pharmaceutical, diagnostic,
nutritional and hospital products. The company employs 57,000 people and markets
its products in more than 130 countries. In 1999, the Company's sales and net
earnings were $13.2 billion and $2.4 billion, respectively.
Martek Biosciences Corporation develops, manufactures and sells products from
microalgae. The company's products include: (1) specialty, nutritional oils for
infant formula, nutritional supplements and food ingredients that may play a
beneficial role in promoting mental and cardiovascular health, and in the
development of the eyes and central nervous system in newborns; (2) high value
reagents and technologies to visualize molecular interactions for drug discovery
and development and; (3) new, powerful fluorescent markers for diagnostics,
rapid miniaturized screening, and gene and protein detection.
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This press release contains forward-looking statements concerning future
royalties and license fees and the potential benefits of Martek's oil
technology. Such statements involve risks and uncertainties that could cause
future actual results to differ due to a variety of risk factors, including
without limitations those factors set forth in Exhibit 99.1 to the Company's
Form 10-Q for the fiscal quarter ended January 31, 2000 and from time to time in
the Company's filings with the Securities and Exchange Commission.
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