Albany Molecular Research, Inc. Awarded $100,000 SBIR Research Grant.

ALBANY, N.Y.--(BW HealthWire)--Oct. 14, 1999--

Albany Molecular Research, Inc. (NASDAQ:AMRI) has been awarded a $100,000 SBIR research grant by the National Institute on Drug Abuse (NIDA). The grant will be used to support the efforts of AMRI scientists to further develop a potential therapeutic treatment for drug abuse, a compound in the iboga alkaloid family known as 18-methoxycoronaridine, or "18-MC." AMRI scientists have received SBIR funding in the past related to this therapeutic program, working in collaboration with Professor Stanley Glick of Albany Medical College. Professor Glick's research group has demonstrated that 18-MC shows strong promise as an anti-addictive agent in both in vitro and in vivo models, without apparent toxicity at the dosage levels studied. The new grant will fund efforts at AMRI to develop a more efficient method for the preparation of 18-MC.

The research proposal was submitted by AMRI's Assistant Director of Chemical Development, Chi-Hsin Richard King, Ph.D., and extends work in this area originally developed by Professor Martin E. Kuehne of the University of Vermont. Professor Khuene is also collaborating with the group at Albany Medical College.

Dr. King will lead the project team funded by the SBIR grant. "We are grateful for the opportunity to demonstrate that our new synthetic strategy for making chiral iboga alkaloids, extending previous work by Professor Kuehne and his research group, is viable," said King. "Our strategy is unique in that it begins with a cheap starting material, L-glutamic acid, and goes on from there to build the molecule in a way in which we hope will be suitable for large-scale production."

"AMRI scientists have been collaborating on various aspects of the 18-MC project for some time," said Thomas E. D'Ambra, Ph.D., the Chairman and Chief Executive Officer of Albany Molecular Research, Inc. "We are excited at the encouraging results that have come from Professor Glick's laboratory, and we are pleased that the success achieved thus far has led NIDA to continue its support for the project. It's still too early to know if 18-MC will ever make it to the marketplace as a therapeutic agent for the treatment of addiction, but it's certainly a promising candidate."

About Albany Molecular Research, Inc.:

Albany Molecular Research is an integrated chemistry outsourcing company that offers a broad range of chemistry research and development services to pharmaceutical and biotechnology companies involved in drug discovery and development. The Company offers services traditionally provided by chemistry divisions within pharmaceutical companies, including medicinal chemistry, chemical development, analytical chemistry services, and small-scale manufacturing. The Company's objective is to be the leading provider of comprehensive outsourced chemistry research services to the pharmaceutical and biotechnology industries. More information about Albany Molecular Research, Inc. is available on the World Wide Web at "www.albmolecular.com."

Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. The Company's actual results may differ materially from such forward-looking statements. Factors which could cause such differences are discussed in the Company's Annual Form 10-K for the year ended December 31, 1998 as filed with the Securities and Exchange Commission on March 31, 1999, as well as the Company's other SEC filings.