Advanced BioNutrition Closes $2.5 Million Series a Funding Round; Company focuses on rapidly growing worldwide animal health and nutrition market.

Business Editors/Biotechnology Writers

COLUMBIA, Md.--(BW HealthWire)--Nov. 14, 2001

Advanced BioNutrition Corporation (ABN), a leader in developing nutritional products to promote health and control disease in the fields of aquaculture and agriculture, has announced that it has raised $2.5 million in Series A funding.

The round was led by Eastbourne Capital Management, and included investments from the State of Maryland, as well as angel investors.

The Company will use the proceeds to expand its sales and marketing efforts, and to further its research into minimizing the use of antibiotics in the aquaculture industry.

ABN was formed in 2001 by Dr. David J. Kyle, a co-founder of Martek Biosciences Corporation [Nasdaq: MATK]. During his 16-year tenure at Martek, Kyle, who served as the firm's Senior Vice President of Research and Development, invented the technology that resulted in the commercialization of Martek's highly successful DHA- and ARA-based nutritional products.

These products are now being added to infant formulas in more than 60 countries worldwide.

ABN, whose initial focus will be to commercialize science-based aquaculture products, has in-licensed more than 40 issued patents pertaining to Martek's animal products and technology, including the AquaGrow product line. Introduced in 1999, AquaGrow began to establish an international customer base, which ABN will immediately seek to expand.

"We're excited to invest in ABN, which we see as the next leader in the rapidly expanding space of animal health and nutrition," said Eric M. Sippel, Chief Operating Officer of Eastbourne Capital Management, L.L.C. "We are impressed by the magnitude and importance of ABN's business opportunity, by their use of proven science, and by the fact that they are starting with a product whose benefits and market acceptance are already known."

Dr. David J. Kyle, Chief Executive Officer of Advanced BioNutrition, said, "Advanced BioNutrition is leading the field in applying established biotechnology to aquaculture health and nutrition. We are on the cutting edge of advancements in aquaculture, an area we believe is poised for the kind of growth that agricultural biotechnology has enjoyed over the past 20 years."

About Dr. David J. Kyle:

Dr. David J. Kyle, the named inventor on more than 70 patents in the area of biotechnology and nutrition and a founder of Martek Biosciences Corporation, most recently served as the company's Senior Vice President, Research and Development.

Prior to co-founding Martek in 1985, Dr. Kyle held positions at Martin Marietta Corp., the Centre d'Etudes Nucleaires of Saclay, France, and the Institute of Physical and Chemical Research, Tokyo, Japan. Dr. Kyle received a Ph.D. in physiology and biochemistry from the University of Alberta, and a B.S. degree in biology from the University of Victoria.

About Advanced BioNutrition Corporation:

Advanced BioNutrition Corporation is a leader in developing nutritional products to promote health and control disease in the fields of aquaculture and agriculture. Advanced BioNutrition applies established biotechnological principles to create proprietary, science-based animal health and nutrition products. The company is headquartered in Columbia, MD.