AMRI (NASDAQ:AMRI) executives were joined by Governor Christine Gregoire
in dedicating the company’s new research & development facility located
in Bothell, WA. The company leased 44,000 square feet at 22215 26th
Avenue SE with an option on an additional 40,000 square feet through
Arden Realty, Inc. and invested approximately $8 million in fit-out
costs and equipment.
AMRI performs contract research for companies globally. The site is set
up to perform research involved in the discovery of new molecules that
could become prescription drugs of the future and is equipped to provide
custom, in vitro biological and analytical services to pharmaceutical
and biotechnology companies as well as academic institutions and medical
research foundations. AMRI’s Bothell labs boasts one of the industry’s
largest and most diverse collection of extracts of plant materials and
marine and soil organisms collected from around the world. In addition
to its existing complement of biological assay development, in vitro
pharmacology and natural products capabilities, AMRI also added
laboratories, resources and equipment to provide medicinal chemistry
services at this location.
AMRI has been in Bothell since acquiring the former New Chemical
Entities in 2001. The company consolidated its operations into this new
facility from two buildings nearby in Bothell. AMRI had considered the
possibility of relocating the facility outside of Washington State but
the coordinated effort between state and local officials and the
utilities that serve the area provided company executives with a
compelling argument to stay put.
The project received support from the State of Washington, City of
Bothell, Puget Sound Energy (PSE), Snohomish County Public Utility
District (SnoPUD), and the Economic Development Council of Snohomish
County.
The company received a $100,000 grant from the State of Washington to
reimburse the company for expenses incurred in transferring equipment
from the existing facilities in Bothell as well as a facility in New
York, plus the addition of seismic control devices in the laboratories
in the new building.
Puget Sound Energy awarded the company a grant for over $250,000 based
on reduced natural gas usage for central HVAC equipment and other gas
powered processes.
In addition, SnoPUD provided over $58,000 for upgrades that are expected
to reduce the company’s total electricity use by almost 45 % annually.
Management of the project was led by Jones Lang and LaSalle with support
from SAB Architects, McKinstry and Skanska USA.
The company is pursuing LEED certification for this building which would
make it one of the few laboratory facilities in the U.S. to receive LEED
certification from the Green Building Council.
About AMRI
Founded in 1991, Albany Molecular Research, Inc. (AMRI) provides
scientific services, products and technologies focused on improving the
quality of life. AMRI works on drug discovery and development projects
and conducts manufacturing of active ingredients and pharmaceutical
intermediates for many of the world's leading healthcare companies. As
an additional value added service to its customers, the company is also
investing in R&D in order to expand its contract services and to
identify novel early stage drug candidates with the goal to outlicense
to a strategic partner. With locations in the U.S., Europe, and Asia,
AMRI provides customers with a wide range of services, technologies and
cost models.
Forward-Looking Statements
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.
These statements may be identified by forward-looking words such as
"may," "could," "should," "would," "will," "intend," "expect,"
"anticipate," "believe" and "continue" or similar words and include, but
are not limited to, statements by AMRI’s Chairman, CEO and President and
statements concerning the company’s plans for its Bothell facilities,
anticipated future capacity at such facilities and the performance of
the company’s global chemistry platform. Readers should not place undue
reliance on our forward-looking statements. The company's actual results
may differ materially from such forward-looking statements as a result
of numerous factors, some of which the company may not be able to
predict and may not be within the company's control. Factors that could
cause such differences include, but are not limited to the company's
ability to attract and retain experienced scientists, trends in
pharmaceutical and biotechnology companies outsourcing of chemical
research and development, the company's ability to enforce its
intellectual property and technology rights, the risks posed by
international operations to the company, and the company's ability to
effectively manage its growth as well as those factors discussed in the
company's Annual Report on Form 10-K for the year ended December 31,
2008 as filed with the Securities and Exchange Commission on March 13,
2009 and the company's other SEC filings. The company does not undertake
any duty to and does not intend to update any forward-looking statements
contained in this press release after the date of this press release.
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