Genentech Licenses AMRI Compounds

1/4/11

AMRI (NASDAQ: 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.

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