Albany Molecular Research, Inc. Adds Industry Veterans to Scientific Leadership Team.

Business/Health & Medical Editors

ALBANY, N.Y.--(BUSINESS WIRE)--Dec. 5, 2001

Albany Molecular Research, Inc. (Nasdaq: AMRI) today announced the addition of three accomplished life sciences industry scientists--Drs. Bruce J. Sargent, Michael A. Guaciaro, and David A. Hunt--to its management teams in medicinal chemistry and chemical development. All three scientists have assumed positions in Albany-area research labs.

"Each of these individuals brings to AMRI a minimum of 20 years of industry experience and a solid record of moving product candidates through the R&D pipeline," says AMRI Chairman and CEO Thomas E. D'Ambra, Ph.D. "Their employment in Albany culminates a lengthy and rigorous recruiting process and strengthens and adds depth to AMRI's excellent scientific teams."

Bruce J. Sargent, Ph.D. joins AMRI as assistant director of medicinal chemistry. Prior to joining AMRI, Dr. Sargent served as head of medicinal chemistry at Knoll Ltd, the United Kingdom division of BASF-Pharma, a mid-sized global pharmaceutical company. Abbott Laboratories recently acquired Knoll. Dr. Sargent joined Knoll (formerly Boots Pharmaceuticals) as a scientific officer in 1978 and advanced through a number of progressively responsible positions, eventually becoming head of medicinal chemistry in 1998. He worked at Knoll for 23 years. While there, Dr. Sargent managed several research projects in the area of central nervous system diseases, as well as other therapeutic areas. In particular, he made a major contribution to the discovery and development of the antiobesity medicine sibutramine (Meridia(R)). His team delivered 12 compounds into advanced preclinical testing. Nine of these compounds reached phase one human clinical testing. Dr. Sargent earned his Ph.D. in organic chemistry from the University of Manchester.

Michael A. Guaciaro, Ph.D. joins AMRI's medicinal chemistry department as a section head. Dr. Guaciaro brings 20 years of industry experience to AMRI. After earning his Ph.D. in organic chemistry from the University of Pennsylvania in 1981, Dr. Guaciaro joined New Jersey-based American Cyanamid Company as a research chemist. During his 19-year tenure at American Cyanamid, Dr. Guaciaro progressed to senior group leader, a position that required him to manage the efforts of up to 25 chemists on pesticide synthesis projects. In 1999, he joined BASF Corporation as a manager in its herbicide synthesis department, where he supervised the advancement of numerous herbicide and pesticide lead candidates into field trials and assisted with the integration of American Cyanamid Company's Agricultural Division into the BASF organization. During his career at Cyanamid and BASF, Dr. Guaciaro was involved as a project leader and manager in lead generation and lead optimization studies that resulted in the discovery of fifteen development candidates.

David A. Hunt, Ph.D. joins AMRI's chemical development department as a section head. Dr. Hunt comes to AMRI from North Carolina-based Catalytica Pharmaceuticals, where he was a senior group leader in the chemical development department. He has 22 years of industry experience. Prior to Catalytica, Dr. Hunt worked for ten years in the agricultural research division of American Cyanamid Company. During his tenure there, he directed a group of 11 scientists and was responsible for the development of novel classes of fungicides and insecticides. Dr. Hunt's industry experience also includes positions at Union Carbide's Agricultural Research Division, Becton Dickinson Research Center, PPG Industries, and Salsbury Laboratories. Dr. Hunt has led or served on project teams responsible for the discovery or development of three commercial products. He received a Ph.D. in organic chemistry from Duke University.

"In addition to their strong backgrounds in research and industry, each of these unique individuals possesses excellent leadership and problem-solving skills," adds D'Ambra. "We are confident that as members of our medicinal chemistry and chemical development management teams, Drs. Sargent, Guaciaro and Hunt will make solid contributions to our research projects, entrepreneurial culture and company leadership."

Albany Molecular Research, Inc. is a chemistry-based drug discovery and development company, focusing on applications for new small molecule prescription drugs. The company conducts R&D projects and collaborates with many leading pharmaceutical, biotechnology and genomics companies, and is developing new chemistry technology for potential prescription drug applications.