AMRI and Icagen Ink Collaboration Agreement

BUFFALO, N.Y. and DURHAM, N.C., Jan. 7, 2016 /PRNewswire/ -- Albany Molecular Research Inc. (NASDAQ: AMRI) and Icagen, Inc. announced today that they have signed a collaboration agreement to co-market Icagen's ion channel and transporter technology to global pharmaceutical and biotechnology clients.

As part of the three-year agreement, AMRI  clients and customers gain access to Icagen's broad portfolio of assay tools and technologies for ion channel and transporter research, including their extensive collection of unique ion channel cell lines and their proprietary XRpro® X-ray fluorescence technology platform. Icagen's customers will benefit from AMRI's suite of integrated drug discovery solutions, including expertise in medicinal chemistry, in vitro DMPK assays, and computer-aided drug discovery, as well as access to its proprietary ASCC small molecule and natural products collections. 

"We are excited to be entering into this collaboration with Icagen as we look to provide drug discovery customers access to unique cell lines and emerging technologies that complement our service offerings," said Rory Curtis, Ph.D., Vice President, Discovery Biology and Pharmacology, and Site Head of AMRI Buffalo. "We anticipate that Icagen's expertise in ion channel drug development and their comprehensive portfolio of assay tools will be beneficial to AMRI's drug discovery efforts."

"We are pleased to be able to provide our clients access to AMRI's integrated chemistry services through this alliance," added Richie Cunningham, Chief Executive Officer of Icagen, Inc.  "Icagen's ultimate goal is to reduce the time and cost of bringing ion channel and transporter drug candidates to market for our clients. AMRI's broad capabilities in medicinal chemistry are expected to strengthen Icagen's ability to efficiently advance our clients' drug candidates through pre-clinical development." 

About AMRI
Albany Molecular Research Inc. (AMRI) is a global contract research and manufacturing organization that has been working with the Life Sciences industry to improve patient outcomes and the quality of life for more than two decades. With locations in North America, Europe and Asia, our key business segments include Discovery and Development Solutions (DDS), Active Pharmaceutical Ingredients (API), and Drug Product Manufacturing (DPM). Our DDS segment provides comprehensive services from hit identification to IND, including expertise with diverse chemistry, library design and synthesis, in vitro biology and pharmacology, drug metabolism and pharmacokinetics, as well as natural products. API supports the chemical development and cGMP manufacture of complex API, including potent, controlled substances, biologics, peptides, steroids, hormones, cytotoxic compounds and sterile API. DPM supports development through commercial scale production of complex liquid-filled and lyophilized parenterals, sterile suspensions and ophthalmic formulations. For more information about AMRI, please visit our website at www.amriglobal.com or follow us on Twitter (@amriglobal).

About Icagen, Inc.
Icagen partners with pharmaceutical and biotechnology companies to offer industry-leading scientific expertise and comprehensive access to technologies for ion channel and transporter drug discovery and development. With over 20 years of leadership in the ion channel field, the Icagen team offers an extensive track record of success in advancing molecules from drug discovery to clinical development across multiple therapeutic areas and ion channel classes. Icagen's growing tool box comprises a broad range of cell lines and technologies for ion channel and transporter research, capped by the label-free XRpro® platform.  XRpro® technology, based on X-ray fluorescence, is a novel method that enables high throughput assessment of ion channels and transporters, including challenging systems with high therapeutic interest.  For more information on our company, please visit our website at www.icagen.com.

Forward Looking Statements
This release includes forward-looking statements on current expectations and projections about future events of AMRI and Icagen. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding benefits to be derived by AMRI and Icagen from the collaboration.  The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, among others, the ability of AMRI and Icagen to successfully work together The information in this release is provided only as of the date of this release, and neither AMRI nor Icagen undertakes any obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

SOURCE AMRI; Icagen, Inc.