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Article: IN BRIEF.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AMRI reaches accord with Bristol-Myers Squibb
ALBANY -- Bristol-Myers Squibb has selected a third compound being developed under Albany Molecular Research Inc.'s proprietary research program for preclinical development. AMRI will receive $750,000 in a milestone payment under a 2005 licensing agreement with Bristol-Myers Squibb, which has already selected two other AMRI compounds.
In all, AMRI has received five milestone payments so far from the agreement. The compounds are being developed as improved treatments for diseases of the central nervous system.
The agreement could be lucrative for AMRI, which could potentially receive up to $66 ...