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AMRI and Cystic Fibrosis Foundation Launch Major Research Collaboration
Total Value Could Reach Up to $23.7 Million
ANAHEIM, Calif. and ALBANY, N.Y., Oct. 4 /PRNewswire-USNewswire/ -- AMRI (NASDAQ:AMRI) and the Cystic Fibrosis Foundation Therapeutics, Inc. (CFFT), the nonprofit affiliate of the Cystic Fibrosis Foundation, announced today a four-year research collaboration, worth up to $23.7 million, aimed at identifying novel treatments that address the core defect in cystic fibrosis.
The agreement calls for AMRI to screen its natural products-based libraries to find compounds that improve the function of the defective protein in CF, known as the Cystic Fibrosis Transmembrane conductance Regulator (CFTR). AMRI will also conduct an integrated drug discovery program -- including chemistry and in vitro biology -- on promising compounds that may emerge from the screening program. Should any compounds identified under the agreement progress into preclinical or clinical testing, AMRI has the option to provide chemical development and GMP manufacturing services to CFFT on those compounds.
The announcement is being made in conjunction with the 21st Annual North American Cystic Fibrosis Conference in Anaheim, Calif.
"With this collaboration, we are proving once again that we will explore every promising avenue to find new therapies for people with CF," said Robert J. Beall, Ph.D, president and CEO of the Cystic Fibrosis Foundation. "We are excited about the potential of AMRI's cutting-edge natural products capabilities to complement our existing small molecule drug discovery strategy."
CFFT is exploring the promise of natural products in an effort to increase the number and diversity of chemicals available to improve the function of the defective CFTR protein.
The collaboration includes financial commitments from CFFT, which could be worth up to $23.7 million, if specific clinical development milestones are met.
"AMRI is committed to working with CFFT to discover and develop new therapeutics and advance the care and treatment of persons stricken with this fatal illness," said AMRI Chairman, President and Chief Executive Officer Thomas E. D'Ambra, Ph.D. "With our diverse natural product collections, integrated with follow-on technologies in high-throughput screening, medicinal chemistry lead optimization and fermentation scale up, AMRI is uniquely and ideally suited to help the Foundation identify and develop potential new medicines."
The collaboration with CFFT marks AMRI's fourth natural products-based research agreement in the last 10 months, including two others that have previously been announced.
Cystic fibrosis is a life-threatening genetic disease that affects approximately 30,000 children and adults in the United States. It causes serious lung infections and digestive complications.
About AMRI
Founded in 1991, Albany Molecular Research (AMRI) provides scientific services, products and technologies focused on improving the quality of life. AMRI works on drug discovery and development projects and conducts manufacturing of active ingredients and pharmaceutical intermediates for many of the world's leading healthcare companies. A separate, standalone R&D division of the company is also developing technology that it intends to partner and out license. With locations in the U.S., Europe and Asia, AMRI provides customers with a wide range of services, technologies and cost models.
About the Cystic Fibrosis Foundation
The Cystic Fibrosis Foundation is the leading organization devoted to curing and controlling cystic fibrosis. Headquartered in Bethesda, Md., the Foundation funds CF research and CF drug discovery and development, has 80 chapter and branch offices throughout the country, and supports and accredits a nationwide network of 115 CF care centers, which provide vital treatments and other CF resources to patients and families. For more information, visit <a target=_blank class=ftalternatingbarlinklarge href="http://www.cff.org/.
">http://www.cff.org/.
</a>
AMRI Safe Harbor Statement
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. 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, 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, 2006 as filed with the Securities and Exchange Commission on March 15, 2007 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.
Source: Cystic Fibrosis Foundation Therapeutics, Inc.; AMRI
AMRI and Cystic Fibrosis Foundation Launch Major Research Collaboration
Total Value Could Reach Up to $23.7 Million
ANAHEIM, Calif. and ALBANY, N.Y., Oct. 4 /PRNewswire-USNewswire/ -- AMRI (NASDAQ:AMRI) and the Cystic Fibrosis Foundation Therapeutics, Inc. (CFFT), the nonprofit affiliate of the Cystic Fibrosis Foundation, announced today a four-year research collaboration, worth up to $23.7 million, aimed at identifying novel treatments that address the core defect in cystic fibrosis.
The agreement calls for AMRI to screen its natural products-based libraries to find compounds that improve the function of the defective protein in CF, known as the Cystic Fibrosis Transmembrane conductance Regulator (CFTR). AMRI will also conduct an integrated drug discovery program -- including chemistry and in vitro biology -- on promising compounds that may emerge from the screening program. Should any compounds identified under the agreement progress into preclinical or clinical testing, AMRI has the option to provide chemical development and GMP manufacturing services to CFFT on those compounds.
The announcement is being made in conjunction with the 21st Annual North American Cystic Fibrosis Conference in Anaheim, Calif.
"With this collaboration, we are proving once again that we will explore every promising avenue to find new therapies for people with CF," said Robert J. Beall, Ph.D, president and CEO of the Cystic Fibrosis Foundation. "We are excited about the potential of AMRI's cutting-edge natural products capabilities to complement our existing small molecule drug discovery strategy."
CFFT is exploring the promise of natural products in an effort to increase the number and diversity of chemicals available to improve the function of the defective CFTR protein.
The collaboration includes financial commitments from CFFT, which could be worth up to $23.7 million, if specific clinical development milestones are met.
"AMRI is committed to working with CFFT to discover and develop new therapeutics and advance the care and treatment of persons stricken with this fatal illness," said AMRI Chairman, President and Chief Executive Officer Thomas E. D'Ambra, Ph.D. "With our diverse natural product collections, integrated with follow-on technologies in high-throughput screening, medicinal chemistry lead optimization and fermentation scale up, AMRI is uniquely and ideally suited to help the Foundation identify and develop potential new medicines."
The collaboration with CFFT marks AMRI's fourth natural products-based research agreement in the last 10 months, including two others that have previously been announced.
Cystic fibrosis is a life-threatening genetic disease that affects approximately 30,000 children and adults in the United States. It causes serious lung infections and digestive complications.
About AMRI
Founded in 1991, Albany Molecular Research (AMRI) provides scientific services, products and technologies focused on improving the quality of life. AMRI works on drug discovery and development projects and conducts manufacturing of active ingredients and pharmaceutical intermediates for many of the world's leading healthcare companies. A separate, standalone R&D division of the company is also developing technology that it intends to partner and out license. With locations in the U.S., Europe and Asia, AMRI provides customers with a wide range of services, technologies and cost models.
About the Cystic Fibrosis Foundation
The Cystic Fibrosis Foundation is the leading organization devoted to curing and controlling cystic fibrosis. Headquartered in Bethesda, Md., the Foundation funds CF research and CF drug discovery and development, has 80 chapter and branch offices throughout the country, and supports and accredits a nationwide network of 115 CF care centers, which provide vital treatments and other CF resources to patients and families. For more information, visit <a target=_blank class=ftalternatingbarlinklarge href="http://www.cff.org/.
">http://www.cff.org/.
</a>
AMRI Safe Harbor Statement
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. 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, 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, 2006 as filed with the Securities and Exchange Commission on March 15, 2007 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.
Source: Cystic Fibrosis Foundation Therapeutics, Inc.; AMRI
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