OmegaTech Becomes Martek Biosciences Boulder Corp. 34556

OmegaTech Becomes Martek Biosciences Boulder Corp.

COLUMBIA, Md.--Martek Biosciences Corporation(NASDAQ:MATK) completed its acquisition of OmegaTech Inc. in a stock-for-stock transaction. OmegaTech is now a wholly owned subsidiary of Martek (www.martekbio.com) and will change its name to Martek Biosciences Boulder Corp., which will continue to operate from OmegaTech's former headquarters in Boulder, Colo.

The purchase price of the acquisition was approximately 1.8 million shares of Martek common stock with a current market value of around $50 million. An additional maximum amount of 1.4 million shares having an estimated market value of $40 million will be payable over the next two years if four company goals are met; these include sales and gross profit margin objectives, and regulatory and labeling approvals.