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Albany Announces Drug Discovery Research Collaboration with Bristol-Myers Squibb

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Albany Molecular Research, Inc. (AMRI) has entered into a two-year natural products based drug discovery collaboration with Bristol-Myers Squibb Company.

Under the terms of the agreement, AMRI will test samples from its natural product hit seeking collections against multiple drug targets, with the goal of identifying hit compounds with desired biological activity in a potential range of therapeutic areas.

According to AMRI, it may provide follow-up medicinal chemistry hit-to-lead optimization, biocatalysis or chemical synthesis support on compounds of interest in addition to Bristol-Myers Squibb.

The collaboration includes an upfront payment, research funding and opportunities for AMRI to receive payments based on the specific development and commercialization goals.

AMRI would also receive royalty payments on sales of commercial products that result from the collaboration.

“We are pleased to announce this natural products relationship with Bristol-Myers Squibb,” said AMRI Chairman, President and Chief Executive Officer Thomas E. D'Ambra, Ph.D.

“This collaboration draws on AMRI’s breadth of drug discovery technologies, from our diverse collection of natural products and high throughput screening, to world class hit-to-lead optimization.”

This is AMRI’s second collaboration with Bristol-Myers Squibb. The two companies have a separate, ongoing collaboration into new treatments for disorders of the central nervous system.