AMRI will test its natural product hit-seeking collections against multiple targets. Albany Molecular Research (AMRI) and Bristol-Myers Squibb (BMS) entered into a two-year natural products-based drug discovery collaboration. Under the terms of the agreement, AMRI will test samples from its natural product hit-seeking collections against multiple drug targets with the goal of identifying hit compounds with desired biological activity in a potential range of therapeutic areas. In addition, AMRI may provide follow-up medicinal chemistry hit-to-lead optimization, biocatalysis, or chemical synthesis support on compounds of interest to BMS. The collaboration includes an upfront payment, research funding, and opportunities for AMRI to receive milestone payments based on the achievement of specific development and commercialization goals. AMRI will also receive royalty payments on sales of commercial products that result from the collaboration.