Web Press Release No. 176
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July 11, 2005
Albany Molecular Research, Inc., NINDS Target Neuromuscular Disorders
Albany, NY (July 11, 2005) -- Albany Molecular Research, Inc. (Nasdaq: AMRI) today announced a two-year research collaboration with the National Institute of Neurological Disorders and Stroke (NINDS) aimed at developing novel treatments for spinal muscular atrophy, a degenerative neuromuscular disease that causes muscle wasting and, in the most severe form, death.
Under the terms of the agreement, AMRI will provide fee-for-service medicinal chemistry lead optimization on target compounds, including design and synthesis of analogs, as well as analysis of associated structure activity relationships. AMRI is providing these services to NINDS through a subcontract with Science Applications International Corporation (SAIC) to support the SMA Project: A Collaborative Program to Accelerate Therapeutics Development for SMA. AMRI can retain ownership of chemistry-related intellectual property resulting from the collaboration, as well as commercial rights to discovered products.
"We are pleased to enter into this relationship with the National Institute of Neurological Disorders and Stroke," said AMRI Chief Executive Officer Thomas E. D'Ambra, Ph.D. "There is a significant need to develop new treatments for spinal muscular atrophy. AMRI's medicinal chemistry team has years of experience optimizing and improving compounds, along with a proven track record of advancing compounds through the research and development pipeline. We hope to use our chemistry expertise to help develop promising new therapeutics for this debilitating disease."
Albany Molecular Research, Inc. is a leading research, drug discovery, development and manufacturing company built on a chemistry platform of comprehensive and integrated technologies, resources and capabilities. The company conducts research and development with many leading pharmaceutical and biotechnology companies and for its own internal discovery programs, and provides cGMP manufacturing of active pharmaceutical ingredients through its wholly owned subsidiary, Organichem Corporation.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements may be identified by forward-looking words such as "may," "could," "should," "would," "will," "intend," "expect," "anticipate," "believe" and "continue" or similar words. Readers should not place undue reliance on our forward-looking statements. The company's actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the company may not be able to predict and may not be within the company's control. Factors that could cause such differences include, but are not limited to (a) the company's ability to attract and retain experienced scientists, (b) trends in pharmaceutical and biotechnology companies outsourcing chemical research and development, (c) the company's ability to take advantage of proprietary technology and expand the scientific tools available to it, (d) the company's ability to expand and integrate its drug discovery and development technologies, (e) the company's performance under the collaboration, (f) the NINDS's continuous utilization of the company's services at levels set forth in the contract and (g) the NINDS's continued pursuit of programs under which the company provides services as well as those factors discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2004 as filed with the Securities and Exchange Commission on March 16, 2005 and the company's other SEC filings. The company does not undertake any duty to and does not intend to update any forward-looking statements contained in this press release after the date of this press release.
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