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Albany Molecular Research, Inc. Completes Strategic European Acquisition

03 Mar 2006 - Albany Molecular Research, Inc. has successfully completed the acquisition of ComGenex, located in Budapest, Hungary. On January 30, AMRI announced the signing of a stock purchase agreement to acquire ComGenex, a privately held drug discovery services company that combines chemical synthesis and computational chemistry to create drug-like compounds. The completed acquisition provides AMRI with an immediate presence in Europe. In combination with AMRI's facilities in the U.S. and Asia, the acquisition enhances the company's ability to offer a range of flexible services and cost models and provides a hub from which to establish additional relationships with European pharmaceutical and biotechnology companies.
 
Michael A. Guaciaro, Ph.D. has assumed leadership responsibility for the Hungarian facilities, and is relocating to Budapest. ComGenex Chief Executive Officer László Ürge, Ph.D. will remain with AMRI in Budapest and serve as a key member of the leadership team there.
 
Since joining AMRI in 2001, Dr. Guaciaro has successfully led over 40 drug discovery project teams and has played a key role in the support and coordination of medicinal chemistry projects at the company's R&D centers in Singapore and India. Prior to joining AMRI, Dr. Guaciaro worked at American Cyanamid Agricultural Research Center, where he was involved in the integration of research programs between sites in the United States and Europe. He obtained a Ph.D. in organic chemistry from the University of Pennsylvania.