Martek, General Mills seek shelf-stable DHA
This article was originally published in The Tan Sheet
Executive Summary
The nutritional oils firm looks to expand the use of DHA in long shelf-life foods through a partnership with General Mills. "We do not have all product categories licked yet," such as dry cereal, said Martek Biosciences Chief Financial Officer Pete Buzy Sept. 21 at the UBS Global Life Science Conference in New York. The agreement signed in February gives Martek rights to use General Mills' technology in exchange for exclusive use by GM of Martek's DHA formula in some applications. The deal is separate from a 15-year DHA license and supply agreement the firms signed in 2006 (1"The Tan Sheet" June 19, 2006, In Brief). A spokeswoman said Martek expects to commercialize its DHA in long shelf-life foods by early 2011. The Columbia, Md.-based maker of life'sDHA projects the market for omega-3 fortified products will reach $8 billion by 2012