BUFFALO, N.Y., Jan. 14, 2016 /PRNewswire/ -- Albany Molecular Research Inc. (NASDAQ: AMRI) announced today that it has signed a collaboration agreement with the New York Center for Nanomedicine Research (NYCNMR) to co-market their nanotechnology services to global pharmaceutical and biotechnology clients.
As part of the three-year agreement, AMRI gains access to NYCNMR's nanoscale therapeutic and formulation services. NYCNMR's customers will benefit from AMRI's suite of integrated drug discovery solutions, which includes expertise in assay method development, high-throughput screening, high-content screening, hit-to-lead-medicinal chemistry, computer-aided drug discovery and in vitro DMPK assays, as well as access to its proprietary ASCC small molecule and natural products collections
"We are very enthusiastic about our collaboration with NYCNMR as it represents a unique opportunity to provide drug discovery customers with cutting-edge nanotechnologies and an environment that can create preventative, diagnostic and therapeutic approaches to treat a variety of human diseases," said Rory Curtis, Ph.D., Vice President, Discovery Biology and Pharmacology, and Site Head of AMRI Buffalo. "NYCNMR's expertise - specifically in the area of drug delivery and targeting systems - has the ability to enrich the industry's drug discovery efforts across biology, chemistry and pharmacology by applying cutting-edge nanotechnologies to clinical applications in order to solve complex medical problems."
Housed at the University at Buffalo's Clinical and Translational Research Center on the Buffalo Niagara Medical Campus, NYCNMR is working with pharmaceutical companies, academic researchers and corporate clients on commercialization efforts by applying nanotechnology to clinical applications.
"We are excited to bring our nanotechnology capabilities and services to AMRI's customers through this strategic collaboration," added Scottpatrick J. Sellitto, Founding Partner and CEO, NYCNMR. "We believe there is much for our customers and the industry to gain from accessing the integrated capabilities that AMRI's new center in Buffalo offers for drug discovery."
"The agreement between AMRI and NYCNMR represents the continued realization of Governor Andrew Cuomo's vision for the Buffalo Medical Innovation and Commercialization Hub (BMIC) to build upon Western New York's leadership in life sciences research and enable the commercialization of innovations developed there," said Tom O'Brien, Associate Vice President for Innovation Infrastructure and Resources for SUNY Polytechnic Institute, which manages the BMIC. "We applaud AMRI and NYCNMR on their new partnership and look forward to further industry collaborations and growth at the Buffalo hub."
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 Solutions (DDS), Active Pharmaceutical Ingredients (API), and Drug Product Manufacturing (DPM). 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 supports the chemical development and cGMP manufacture of complex API, including potent, controlled substances, biologics, peptides, steroids, hormones, cytotoxic compounds and sterile API. DPM supports development through commercial scale production of complex liquid-filled and lyophilized parenterals, sterile suspensions and ophthalmic formulations. For more information about AMRI, please visit our website at www.amriglobal.com or follow us on Twitter (@amriglobal).
The New York Center for Nanomedicine Research Inc. (NYCNMR) promotes and achieves efficient integration of cutting edge nanotechnology and medical research. The center has expertise in medicine, advanced nanoparticle development, targeted delivery systems for drugs and biologics, and has developed novel transfection and transport platforms. The primary goal of the Center is the translation of nanotechnology into clinical applications leading to commercialization opportunities. The center provides an interdisciplinary scientific environment to create new approaches to prevent, diagnose and treat immunological, infectious, cardiovascular, neurological, and oncological diseases. NYCNMR is housed on the Buffalo Niagara Medical Campus ("BNMC") at the University of Buffalo's Clinical and Translational Research Center. For more information on the NYCNMR please visitwww.nycnmr.com.
SUNY Polytechnic Institute
SUNY Polytechnic Institute (SUNY Poly) is New York's globally recognized, high-tech educational ecosystem, formed from the merger of the SUNY College of Nanoscale Science and Engineering and SUNY Institute of Technology. SUNY Poly offers undergraduate and graduate degrees in the emerging disciplines of nanoscience and nanoengineering, as well as cutting-edge nanobioscience and nanoeconomics programs at its Albany location and undergraduate and graduate degrees in technology, including engineering, cybersecurity, computer science, and the engineering technologies; professional studies, including business, communication, and nursing; and arts and sciences, including natural sciences, mathematics, humanities, and social sciences at its Utica/Rome location. Thriving athletic, recreational, and cultural programs, events, and activities complement the campus experience. As the world's most advanced, university-driven research enterprise, SUNY Poly boasts more than $43 billion in high-tech investments, over 300 corporate partners, and maintains a statewide footprint. The 1.3 million-square-foot Albany NanoTech megaplex is home to more than 4,000 scientists, researchers, engineers, students, faculty, and staff, in addition to Tech Valley High School. SUNY Poly operates the Smart Cities Technology Innovation Center (SCiTI) at Kiernan Plaza in Albany, the Solar Energy Development Centerin Halfmoon, the Central New York Hub for Emerging Nano Industries in Syracuse, the Smart System Technology and Commercialization Center (STC) in Canandaigua, and the Photovoltaic Manufacturing and Technology Development Facility in Rochester where SUNY Poly also leads the American Institute for Manufacturing Integrated Photonics. SUNY Poly founded and manages the Computer Chip Commercialization Center (Quad-C) at its Utica location and also manages the $500 million New York Power Electronics Manufacturing Consortium, with nodes in Albany and Rochester, as well as the Buffalo High-Tech Manufacturing Innovation Hub at RiverBend, Buffalo Information Technologies Innovation and Commercialization Hub, and Buffalo Medical Innovation and Commercialization Hub. For information visit www.sunycnse.com and www.sunypoly.edu.
Nanotechnology is science, engineering, and technology involving matter on an atomic, molecular, and supramolecular scale. According to BCC Research, the global market for nanotechnology products was valued at $26 billion in 2014. It is estimated to reach about $64.2 billion by 2019, a compound annual growth rate (CAGR) of 19.8% from 2014 to 2019.