AMRI signs licensing agreement with Genentech
Receives upfront licence fee and funding for research
Albany Molecular Research Inc (AMRI) has agreed a research and licensing agreement with Genentech to develop antibacterial products using compounds discovered by AMRI from its natural products sample collection.
Under the terms of the agreement, Genentech will receive an exclusive licence to develop and commercialise multiple potential products from AMRI's antibacterial programme.
In addition to an upfront licence fee and research funding, AMRI is eligible to receive development regulatory milestones and will receive royalties from Genentech on worldwide sales of any resulting commercialised compounds.
‘As resistance to existing drugs continues to emerge, there is an urgent need for new antibiotic agents,’ said Bruce Sargent, AMRI's vice president of research and development.
‘This exciting collaboration brings together AMRI's strengths and experience in small-molecule drug discovery, biology and chemistry with Genentech's leading position in novel drug discovery and development.’