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

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

Business Wire

FREISING, Germany -- April 18, 2013

Pieris AG has achieved the second milestone for the first of two programs in
its discovery and development collaboration with Daiichi Sankyo Company
Limited (hereinafter Daiichi Sankyo; headquartered in Chuo Ward, Tokyo, TSE
4568), triggering an undisclosed payment, the company announced today. The
milestone is based on successful in vitro and in vivo studies validating a
range of Anticalin^® targeted protein drug candidates designed to bind a
Daiichi Sankyo target. With this achievement, Pieris will hand over further
development responsibility of the program to Daiichi Sankyo.

“Pieris continues to demonstrate the advantages of Anticalins^® through the
success of our partnerships, in particular our ability to rapidly design
differentiated targeted therapeutics that overcome specific hurdles
encountered by both mAbs and small molecules,” Stephen Yoder, CEO of Pieris
stated. “Pieris has rapidly delivered these compounds, and we remain on track
for the generation of several Anticalin drug candidates for the second Daiichi
Sankyo program.”

Under the terms of the 2011 agreement, Pieris receives committed research
funding and payments for the achievement of research, preclinical, regulatory
and commercial milestones. The partnership could encompass for Pieris more
than € 100 million per program in license fees, funding and milestones, not
including royalties on sales from marketed Anticalin proteins resulting from
the collaboration. Daiichi Sankyo will have exclusive marketing rights
worldwide for all such products.

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.

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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, which 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