Albany Molecular Research Inc. (AMRI: Quote), a provider of contract services to pharma and biotech services, Monday announced that it has entered into a new strategic agreement with Knopp Biosciences LLC.
Knopp is a drug discovery and development company focused on breakthrough treatments for unmet needs in neurological disorders.
Under the two-year term of the FTE agreement, AMRI is to provide various discovery-related services that include medicinal chemistry, DMPK and computer-aided drug discovery (CADD).
As part of the scope of work, AMRI scientists will collaborate with Knopp scientists and project leaders on selected novel drug discovery programs. The collaboration is extendable after two years by mutual agreement.
AMRI's Chairman, President and CEO, Thomas Ambra stated that "This agreement will combine AMRI's broad range of drug discovery capabilities, with more than 20 years of CNS experience, to assist Knopp in its goal of delivering safe and effective treatments for unmet medical need".
Since 2006, AMRI has worked with Knopp to provide early process development work, route development, and small-scale and large-scale cGMP manufacturing, as well as analytical method development and validation support.
Shares of AMRI are currently trading at $3.44 up 4 cents or 1.18% on the Nasdaq.
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by RTT Staff Writer
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