HarkerBIO, AMRI sign collaborative agreement to market structure-based drug discovery services

Albany Molecular Research Inc. (NASDAQ: AMRI) announced today that it has signed a collaborative agreement with biotechnology company HarkerBIO LLC to co-market their structure-based drug discovery services to global pharmaceutical and biotechnology clients. As part of the three-year agreement, AMRI gains access to HarkerBIO's uniquely differentiated high-resolution, structure-determination expertise and capabilities. HarkerBIO's customers will be able to access and benefit from AMRI's global capabilities, including their integrated drug discovery platforms and solutions.

"We are excited to be entering into this collaboration with HarkerBIO as we implement our new drug-discovery site in Buffalo, N.Y. Our new center in Buffalo offers customers leading-edge platforms and capabilities to translate early discoveries to the clinic via an integrated approach leveraging our expertise in chemistry, biology and pharmacology all located in a single site in the United States," said Michael A. Luther, Senior Vice President, Discovery and Development, AMRI.

Aimed at accelerating decision making and success in the translation from discovery to the clinic, the alliance with HarkerBIO is an early example of the types of partnerships AMRI is creating. AMRI's new discovery center is co-located on the Buffalo Niagara Medical Campus and is part of the larger commitment by the State of New York.

"We have a responsibility to our partners and customers to help drive the translation of innovation to the clinic to bridge the current gaps in discovery and development," Dr. Luther said, "Our strategy is to leverage and build creative and effective collaborations with on-campus and off-campus partners from global Pharma to academia including technology partners within this unique public-private environment."

"We are thrilled to be entering this collaborative agreement with AMRI, one of the most well-respected global drug discovery solution providers," says Paul Sargeant, CEO of HarkerBIO. "We are excited to bring HarkerBIO's unique structural biology services to AMRI's customers."

Financial terms of the agreement were not disclosed.