AMRI (NASDAQ: [[ticker:AMRI]]), the Albany, NY-based pharmaceutical service provider, said today that biotech giant Genentech has taken a license to a number of drug candidates AMRI has derived from natural product sources. Genentech, the South San Francisco-based unit of Roche, will get exclusive rights to develop multiple antibacterial product candidates, which an AMRI spokeswoman says were worked on at the company’s labs in Bothell, WA. Financial terms of the arrangement aren’t being disclosed, but AMRI is getting an upfront fee, is eligible for payments upon reaching development milestones, and could get royalties on sales if any of the compounds become marketed products.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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