AMRI (NASDAQ: AMRI) announced today a research and licensing agreement with Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), for a family of antibacterial compounds discovered from AMRI's proprietary research of its natural products sample collection.
“We are very pleased to announce this collaboration with Genentech”
Under the terms of the agreement, Genentech will receive an exclusive license to develop and commercialize multiple potential products from AMRI's proprietary antibacterial program. Additionally, AMRI will collaborate with Genentech in a research program with the objective of identifying novel antibacterial agents. In addition to an upfront license fee and research funding, AMRI will be eligible to receive development regulatory milestones and will receive royalties from Genentech on worldwide sales of any resulting commercialized compounds.
The license agreement results from work conducted at AMRI in a drug discovery program which leveraged AMRI's extensive natural product libraries, high throughput screening capabilities and natural product chemistry expertise. The leading compound is a highly potent antibacterial agent.
"We are very pleased to announce this collaboration with Genentech," said AMRI's Vice President of Research & Development, Bruce J. Sargent, Ph.D. "As resistance to existing drugs continues to emerge, there is an urgent need for new antibiotic agents. This exciting collaboration brings together AMRI's strengths and experience in small-molecule drug discovery, biology and chemistry with Genentech's leading position in novel drug discovery and development."
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