Pieris Achieves First Milestone Payment in Daiichi Sankyo Collaboration to Develop Anticalin® Therapeutics

  Pieris Achieves First Milestone Payment in Daiichi Sankyo Collaboration to
  Develop Anticalin® Therapeutics

Business Wire

FREISING, Germany -- October 09, 2012

Pieris AG announced today the achievement of the first financial milestone in
its discovery and development collaboration with Daiichi Sankyo Company
Limited (hereinafter Daiichi Sankyo; headquartered in Chuo Ward, Tokyo, TSE
4568). The milestone recognizes the on-schedule selection, optimization and
characterization of several Anticalin^® drug candidates, developed using
Pieris’ proprietary next-generation scaffold technology, against a Daiichi
Sankyo target. The financial details of the milestone payment have not been
disclosed.

“The speed with which Pieris can develop a battery of preclinical Anticalin
candidates satisfying a broad range of pharmacological and pharmaceutical
property criteria is a key advantage of our technology,” said Stephen Yoder,
CEO of Pieris. “The collaboration with Daiichi Sankyo continues to be
extremely positive and we are confident that we will meet the next milestones
for both this and the second Daiichi Sankyo project on schedule.”

As defined by the agreement, announced in April 2011, this achievement
represents the first of two milestones prior to Daiichi Sankyo assuming
responsibility for the further development and marketing of the Anticalin
program. The next milestone for the first project and the subsequent transfer
to Daiichi Sankyo is anticipated for the first quarter of 2013.

Anticalins are therapeutic proteins derived from human lipocalins, rationally
engineered to solve for the pharmacological and pharmaceutical limitations of
both protein- and non-protein-based drug platforms.

About Daiichi Sankyo

The Daiichi Sankyo Group is dedicated to the creation and supply of innovative
pharmaceutical products to address the diversified, unmet medical needs of
patients in both mature and emerging markets. While maintaining its portfolio
of marketed pharmaceuticals for hypertension, hyperlipidemia, and bacterial
infections, the Group is engaged in the development of treatments for
thrombotic disorders and focused on the discovery of novel oncology and
cardiovascular-metabolic therapies. Furthermore, the Daiichi Sankyo Group has
created a "Hybrid Business Model," which will respond to market and customer
diversity and optimise growth opportunities across the value chain. For more
information, please visit: www.daiichisankyo.com.

About Pieris

Pieris AG is an independent, clinical-staged biotechnology company advancing
its proprietary Anticalin^® technology to create differentiated drugs that are
safer and more effective than conventional approaches. Exclusive to Pieris,
Anticalins promise to address high-unmet medical needs and expand the
potential of targeted therapeutics. Pieris’ pipeline ranges from its lead
compound, PRS-050 (anti-VEGF, oncology) that has completed a Phase I clinical
trial, to multiple Anticalins in preclinical development across a range of
therapeutic areas. The company currently has ongoing discovery and development
collaborations with Daiichi Sankyo, the Sanofi Group and Allergan. Privately
held, Pieris has been funded by premier biotechnology-focused venture capital,
including lead investors OrbiMed Advisors and Global Life Science Ventures.
For more information, please visit: www.pieris-ag.com.

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Additional information is available at www.pieris-ag.com.

Anticalin^®, Anticalins^® are registered trademarks of Pieris AG.

Contact:

Pieris AG
Stephen Yoder, CEO
+49 (0) 8161 1411 400
or
Gretchen Schweitzer
+49 172 861 8540
media@pieris-ag.com