AMRI has signed an exclusive option to enter a license agreement with Bessor Pharma, LLC, a translational drug development company, for the development of ALB 109564(a), AMRI’s novel tubulin inhibitor compound in Phase I trials for the treatment of cancer. The option period is approximately eight months.

AMRI will receive an undisclosed option fee and reimbursement for certain costs associated with the intellectual property related to ALB 109564(a). Bessor will conduct fund raising and coordinate a technology transfer and advanced development plan with AMRI. Upon exercising the option, Bessor will receive an exclusive license to the compound and will be responsible for all related R&D. AMRI will receive royalties on sales of any ALB 109564(a)-related drug that is commercialized, in addition to the revenue as the manufacturer of the drug.

AMRI chairman and chief executive officer Thomas E. D’Ambra, Ph.D. said, “We are very pleased with this commercialization opportunity for our tubulin inhibitor program. We believe this novel compound offers good potential to advance the effectiveness of treatment against certain types of cancer in humans, and Dr. Berkowitz and his team have a proven track record of success in drug development. The tubulin program is one of the assets that we have developed from our past R&D investments. As we have stated previously, we will continue to pursue strategic opportunities to enable AMRI to advance the clinical development of our other compounds or programs to create near and long-term value for the company.”