Albany Molecular Research, Inc. (AMRI) has entered into a two-year natural products-based drug discovery collaboration with Bristol-Myers Squibb. Under the terms of the agreement, AMRI will test samples from its natural product hit seeking collections against multiple drug targets in a range of therapeutic areas. AMRI may provide follow-up medicinal chemistry hit-to-lead optimization, biocatalysis or chemical synthesis support on compounds of interest to BMS.

The collaboration includes an upfront payment, research funding and opportunities for AMRI to receive milestone payments based on the achievement of specific development and commercialization goals. AMRI would also receive royalty payments on sales of products that result from the collaboration.

"We are pleased to announce this natural products relationship with BMS," said AMRI chairman, president and chief executive officer Thomas E. D'Ambra, Ph.D. "This collaboration draws on AMRI's breadth of drug discovery technologies, from our diverse collection of natural products and high throughput screening, to world class hit-to-lead optimization."