BUFFALO, N.Y. -- Albany Molecular Research Inc. (NASDAQ: AMRI) announced today that it has signed a collaborative agreement with biotechnology company HarkerBIO LLC to co-market their structure-based drug discovery services to global pharmaceutical and biotechnology clients. As part of the three-year agreement, AMRI gains access to HarkerBIO's uniquely differentiated high-resolution, structure-determination expertise and capabilities. HarkerBIO's customers will be able to access and benefit from AMRI's global capabilities, including their integrated drug discovery platforms and solutions.
"We are excited to be entering into this collaboration with HarkerBIO as we implement our new drug-discovery site in Buffalo, N.Y. Our new center in Buffalo offers customers leading-edge platforms and capabilities to translate early discoveries to the clinic via an integrated approach leveraging our expertise in chemistry, biology and pharmacology all located in a single site in the United States," said Michael A. Luther, Senior Vice President, Discovery and Development, AMRI.
Aimed at accelerating decision making and success in the translation from discovery to the clinic, the alliance with HarkerBIO is an early example of the types of partnerships AMRI is creating. AMRI's new discovery center is co-located on the Buffalo Niagara Medical Campus and is part of the larger commitment by the State of New York.
"We have a responsibility to our partners and customers to help drive the translation of innovation to the clinic to bridge the current gaps in discovery and development," Dr. Luther said, "Our strategy is to leverage and build creative and effective collaborations with on-campus and off-campus partners from global Pharma to academia including technology partners within this unique public-private environment."
"We are thrilled to be entering this collaborative agreement with AMRI, one of the most well-respected global drug discovery solution providers," says Paul Sargeant, CEO of HarkerBIO. "We are excited to bring HarkerBIO's unique structural biology services to AMRI's customers."
Financial terms of the agreement were not disclosed.
Albany Molecular Research Inc. (AMRI) is a global contract research and manufacturing organization that has been working with the Life Sciences industry to improve patient outcomes and the quality of life for more than two decades. With locations in North America,Europe and Asia, our key business segments include Discovery and Development Services (DDS), Active Pharmaceutical Ingredients (API) and Drug Product Manufacturing. Our DDS segment provides comprehensive services from hit identification to IND, including expertise with diverse chemistry, library design and synthesis, in vitro biology and pharmacology, drug metabolism and pharmacokinetics, as well as natural products. API Manufacturing supports the chemical development and cGMP manufacture of complex API, including potent, controlled substances, biologics, peptides, steroids and cytotoxic compounds. Drug Product Manufacturing supports drug product development through commercial scale production of complex liquid-filled and lyophilized parenteral formulations. For more information about AMRI, please visit our website at www.amriglobal.com or follow us on Twitter (@amriglobal).
About The Buffalo Medical Innovation and Commercialization Hub
The Buffalo Medical Innovation and Commercialization Hub (the "BMIC Hub") at the Buffalo Niagara Medical Campus is part of a 10-year, $1 billion public-private research and development initiative announced by New York Governor Andrew M. Cuomo in December 2012. Albany Molecular Research Inc. (AMRI), a recognized leader in drug discovery, development and manufacturing services, is a partner in this initiative.
About HarkerBIO LLC
HarkerBIO is a biotechnology company that provides services to rapidly and cost effectively advance the development of pharmaceuticals. Based on technologies developed at the world-renowned Hauptman-Woodward Medical Research Institute (HWI), HarkerBIO determines the near atomic-resolution, three-dimensional structures of drug target and drug target - therapeutic agent complexes, to greatly accelerate the drug design process. HarkerBIO's technology directly images a drug's mechanism of action, which is critical to optimize a drug candidate and to capture a strong IP position. Through our high-throughput pipeline, pharmaceutical and biotechnology companies gain access to the latest and most advanced technologies in Structural Biology. Specifically, HarkerBIO provides a state-of-art pipeline from protein expression and purification, target crystallization, structure determination, through to drug discovery. Through partnerships with industry, we are developing the next generation of therapeutics for a broad spectrum of diseases and health conditions.