Albany Molecular Research Announces Drug Discovery Research Collaboration with Alcon

10-Jan-2005

Albany Molecular Research, Inc. announced that it has entered into a two-year research collaboration with Alcon Research, Ltd. to discover and develop ophthalmic pharmaceuticals. Under the terms of the agreement, AMRI will screen samples from its natural product collections, with the goal of identifying and developing lead compounds with desired biological activity against ophthalmic-related biological targets. Additional AMRI compound collections may also be screened under the agreement. AMRI will also provide custom chemical synthesis services. The contract includes fee-for-service provisions and library access fees, as well as opportunities for AMRI to receive milestone payments based on the achievement of certain development and regulatory benchmarks. In addition, AMRI would receive royalty payments on net sales of commercial products that result from the collaboration.

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