AMRI in drug discovery deal with B-MS

Albany Molecular Research Inc has entered into a two-year natural products-based drug discovery collaboration with drug major Bristol-Myers Squibb.

Under the terms of the deal, 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. In addition, AMRI may provide follow-up medicinal chemistry hit-to-lead optimization, biocatalysis or chemical synthesis support on compounds of interest to B-MS.

The collaboration includes an upfront payment, research funding and opportunities for AMRI to receive milestones based on the achievement of specific development and commercialization goals. AMRI would also receive royalties on sales of commercial products that result from the collaboration. More specific financial terms were not disclosed.