Albany Molecular Research, Inc. to Fund Postdoctoral Fellowships at Rensselaer Polytechnic Institute and University at Albany

Business Wire, April 26, 2002

Business Editors

ALBANY, N.Y.--(BUSINESS WIRE)--April 26, 2002

Albany Molecular Research, Inc. (Nasdaq: AMRI) announced today that it has awarded funding for a postdoctoral research associate position to two universities in the Capital District.

The awards--which together total over $100,000 per year--are to recognize support from each institution that the company received during its startup phase.

The awards provided by AMRI will fund one postdoctoral position each at the University at Albany and Rensselaer Polytechnic Institute. These unrestricted funds are for research in any area of organic or medicinal chemistry by scientists with a completed doctoral degree. The funding has been awarded to two distinguished chemistry professors: Frank M. Hauser, Ph.D. at the University at Albany and Mark P. Wentland, Ph.D. at Rensselaer Polytechnic Institute. AMRI expects to renew the one-year positions on an annual basis, depending upon economic and business conditions.

"We are pleased to provide this support to both Rensselaer Polytechnic Institute and the University at Albany," said Albany Molecular Research, Inc. Chairman and Chief Executive Officer Thomas E. D'Ambra, Ph. D. "We make these awards out of a recognition of, and an appreciation for, the help, generosity and mentoring that AMRI received in its early days from faculty at both of these institutions."

In addition to these annual postdoctoral awards, AMRI previously provided $100,000 to Rensselaer Polytechnic Institute to establish the "Albany Molecular Research - Arthur G. Schultz Memorial Fund" in honor of Rensselaer Chemistry Professor Arthur G. Schultz, Ph.D., who passed away suddenly in January 2000. The Fund supports undergraduate research in synthetic organic chemistry.

Said Dr. D'Ambra, "Professor Art Schultz at Rensselaer let us utilize the considerable resources of his labs, equipment and research group at a critical time when our own resources were very limited. This was very important to AMRI's survival and growth during its startup period. We are saddened that he is unable to see what he helped to create, but we are pleased to be able to honor his contributions to AMRI, chemistry, and to his distinguished career."

Professor Frank M. Hauser

AMRI also received support from University at Albany Professor of Chemistry Frank M. Hauser, Ph.D. Dr. Hauser is internationally recognized for his development of new organic chemistry reactions and strategies for the preparation of naturally occurring compounds with anti-cancer and other biological activity. He served for four years on the National Institutes of Health (NIH) Medicinal Chemistry Study Section, as well as other NIH study sections. He has an extensive publication record and holds several patents on drug candidates. During his distinguished career, Professor Hauser has produced a large number of Ph.D. and M.S. students and has had a number of postdoctoral associates in his research group. He was chair of the department of chemistry at Albany for six years.

"In addition to providing support to AMRI during its startup phase, Professor Hauser today continues his relationship with the company as a consultant, mentor and friend," said Dr. D'Ambra. "He is a world-class synthetic organic chemist, and AMRI is fortunate to have someone of his caliber available as a resource."

Christopher F. D'Elia, Ph.D., vice president for research at the University at Albany, said, "This award from Albany Molecular Research is much appreciated because it will strengthen our research program in chemistry, and it exemplifies the building partnership we have with one of the nation's fastest growing high technology companies."

Professor Mark P. Wentland

Mark P. Wentland, Ph.D. is a professor of chemistry and medicinal chemistry at Rensselaer Polytechnic Institute in Troy, NY. Dr. Wentland began his career in 1970 at Sterling Winthrop, Inc., where during his 24-year tenure he held various scientific and administrative positions, including Sterling Winthrop Fellow and Oncology Discovery Co-Chair. From 1971 to 1994, he was an adjunct professor of chemistry at Rensselaer. In 1994, Dr. Wentland left industry and joined full-time the chemistry faculty at Rensselaer. He maintains a federally funded medicinal chemistry research program aimed at identifying novel, long-acting agents to treat cocaine and heroin addiction in humans. He has made significant contributions to the discovery of nine drug candidates, six of which have advanced to clinical trials.

"Professor Wentland is a leading medicinal and synthetic chemist who has made important contributions to disease treatment in bacterial and viral infection, cardiovascular disease and now is conducting cutting-edge research in drug addiction treatment and pain control," said Dr. D'Ambra. "We are honored to be able to support his research."

Arthur Sanderson, vice president for research at Rensselaer, added, "Rensselaer's partnership with Albany Molecular Research is critical in building a world-leading biotechnology consortium in the Capital Region. These fellowships will help us attract the best and brightest researchers to the area."