Web Press Release No. 184
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November 1, 2005
Albany Molecular Research, Inc. Opens New Facilities in Singapore and India
Albany, NY (November 1, 2005) -- Albany Molecular Research, Inc. (Nasdaq: AMRI) today announced that its wholly owned subsidiary, Albany Molecular Research Singapore Research Centre, Pte Ltd (AMRSRC), has moved into permanent laboratory facilities in Singapore that provide room for significant growth. Earlier this year, the company established AMRSRC in temporary facilities while the new laboratories were under construction. New facilities are now also operational in Hyderabad, India.
In Singapore, AMRI’s new state-of-the-art 16,000 square foot facility is located in Science Park III, near the Biopolis, a major biomedical research hub. The facility can currently accommodate over 50 scientists. Capabilities there include medicinal chemistry support, custom synthesis of building blocks and scaffolds, as well as non-GMP scale up. AMRI has an additional 29,000 square feet of space in Singapore at this facility and currently plans to add laboratories for cGMP synthesis and analytical chemistry, as well as additional facilities for chemical synthesis.
The company also announced that it has opened its first laboratory in India. Albany Molecular Research Hyderabad Research Centre, Pvt Ltd (AMRHRC), a wholly owned subsidiary of the company, is located in the ICICI Knowledge Park near Hyderabad. The newly constructed laboratory holds up to 12 scientists and is being used for custom synthesis of scaffolds and building blocks, as well as preparation of reference standards. A second laboratory for preparing up to kilogram quantities of pharmaceutical intermediates, starting materials and other compounds is currently under construction and expected to be operational by early next year. Together, the two laboratories in India are anticipated to accommodate up to 30 scientists.
“The move into our permanent home in Singapore, and the opening of our first laboratory in India mark two more milestones in AMRI’s history,” said Chairman, CEO and President Thomas E. D’Ambra, Ph.D. “Our worldwide chemistry services platform has enhanced our ability to provide customers with a flexible range of services and competitive cost models. Customer response to our flexible mix of global and U.S.-based resources has been overwhelmingly positive. As we approach 2006, we look forward to further expansion in Singapore and India and the continued success of our global chemistry platform.”
AMRI’s Singapore operations are being led by Polivina Jolicia F. Gauuan, Ph.D., who joined the company in 1995 after completing her Ph.D. in organic chemistry at the State University of New York at Albany. She relocated to Singapore, along with three other U.S.-based scientists, to form the site management team. AMRSRC currently has nineteen employees, including fifteen scientists.
“The support and encouragement we have received from the Singapore government and the Biomedical group of the Economic Development Board has been vital to the success of our Phase I project,” added D’Ambra. “I would like to take the opportunity to thank them for their efforts and congratulate them for their vision and forward thinking. Singapore has a business supportive culture.”
AMRI’s operations in India are led by Rajesh Shenoy, Ph.D., who joined AMRI in 1998. Dr. Shenoy earned his Ph.D. at the University of Akron and conducted postdoctoral research at Kent State University. He relocated to India, along with two other U.S.-based scientists, to form the site management team. AMRHRC currently has ten employees, including eight scientists.
Albany Molecular Research, Inc. is a global drug discovery company that provides chemistry services to pharmaceutical and biotechnology companies and conducts its own proprietary R&D programs.
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 and include, but are not limited to, statements by AMRI’s Chairman, CEO and President and statements concerning the company’s plans for the expansion of its India and Singapore facilities, anticipated future capacity at such facilities and the performance of the company’s global chemistry platform. 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 the company's ability to attract and retain experienced scientists, trends in pharmaceutical and biotechnology companies outsourcing of chemical research and development, including continued softness in these markets, the company's ability to enforce its intellectual property and technology rights, the risks posed by international operations to the company, and the company's ability to effectively manage its growth 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.
Media Contact: David Albert, Director of Communications, Albany Molecular Research, Inc., 518-464-0279, ext. 2229
Investor Contact: P. Curtis Schenck, Investor Relations Manager, Albany Molecular Research, Inc., 518-464-0279, ext. 2933
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