Microalgae ingredients company sells stable isotope business

- Last updated on GMT

Related tags: Martek biosciences corporation, Corporation, Martek

US company Martek Biosciences Corporation that develops,
manufactures and sells products from microalgae for nutritional
foods, announced recently that it has sold the assets of its stable
isotope business unit to Spectra Gases, Inc., a privately held New
Jersey company.

US company Martek Biosciences Corporation that develops, manufactures and sells products from microalgae for nutritional foods, announced recently that it has sold the assets of its stable isotope business unit to Spectra Gases, Inc., a privately held New Jersey company. In a statement Martek claimed that Spectra Gases is a high value gas producer that will combine its low cost stable isotopes with Martek's biological technology. Martek received approximately $800,000 (907,000 euros) for the assets of the group, and will retain an ongoing royalty from future reagent sales for five years up to a maximum of $500,000 (567,000 euros). In addition, the Company also received an approximate 9 per cent equity position and royalty interest in a new company formed to pursue Martek's high-end protein labelling technology. The sale will allow Martek to focus on development of its nutritional business and fluorescent marker technologies.

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