Venture Funding and the NIH SBIR Program

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Venture Funding and the NIH SBIR Program (2009)
National Research Council (NRC)

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. "5 Other Sources of Data on the Participation of Venture-owned Firms." Venture Funding and the NIH SBIR Program. Washington, DC: The National Academies Press, 2009.

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Venture Funding and the NIH SBIR Program

BOX 5-1

Martek’s Path to Success^a

University of MD—Incubator—Taps—1985.
Venture Capital—1986.
SBIRs: NIH, NSF, DoE—1980s & 1990s.
More Venture Capital—1989 & 1990s.
Maryland Industrial Partnerships—MIPS—1980s & 1990s.
Infant Formula Licensees—1990s.
Public Market Finance—1993 IPO.
Limited Sales—1990s.
Secondary Public Offerings—1990s.
Sales Sky Rocket—2000s.
Profitable in Q4 2003.
Major Expansion of Plants.

^aSlide presentation by Pete Linsert, “The Martek Experience,” at National Research Council, Accelerating Innovation 2005 Conference, Washington, DC, October 19, 2005.

rebates. Licensees include Mead Johnson Nutritionals, Nestle, Abbott Laboratories, Wyeth and Royal Numico. Licensees now sell infant formula products containing Martek ingredients in over 70 countries. In 2006 and 2007, Martek signed multiyear sole source agreements with Abbott Laboratories and Mead Johnson to provide proprietary ingredients for infant formula, a core business of Martek.