Chemistry service provider Albany Molecular Research Inc. has agreed to acquire ComGenex, a privately held drug discovery services company in Budapest, Hungary. ComGenex was founded in 1992 and had contract revenue of about $8.5 million last year. It employs 119 people, including 88 scientific and technical staff. According to AMRI, ComGenex combines parallel synthesis with computational chemistry to create libraries of small molecules with druglike characteristics. AMRI CEO Thomas E. D'Ambra notes that ComGenex is based in a European Union member state "with a significantly lower cost structure than Western European countries."