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

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

Business Wire

FREISING, Germany -- January 13, 2014

Pieris AG has achieved the third milestone for its lead Anticalin^® program
with Daiichi Sankyo Company Limited (hereinafter Daiichi Sankyo; headquartered
in Chuo Ward, Tokyo, TSE 4568), triggering an undisclosed payment, the company
announced today. This milestone marks in total the fourth milestone achieved
for the parties’ two R&D collaborative projects. Specifically, the milestone
achieved was the progression of an Anticalin drug candidate through a non-GLP
toxicity study in non-human primates. In 2013, Pieris transferred the program
to Daiichi Sankyo, which successfully carried out this study.

“This milestone is a very meaningful step towards the clinic for yet another
Anticalin therapeutic, and the speed with which Daiichi Sankyo is advancing
the program demonstrates their commitment and the straightforward development
pathway for Anticalins,” Stephen Yoder, CEO of Pieris stated. “As our
collaborations continue to bear fruit and partnered drug candidates mature,
milestone income increasingly will become a material component of Pieris’
source of capital.”

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. The company currently has a diverse
proprietary pipeline and has ongoing R&D collaborations with Daiichi Sankyo,
the Sanofi Group, Zydus Cadila, Stelis Biopharma 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.

--END--

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

Contact:

For more information, please contact:
Stephen Yoder, CEO
Pieris AG
+49 (0) 8161 1411 400
or
Gretchen Schweitzer
+49 172 861 8540
media@pieris-ag.com
Additional information is available at www.pieris-ag.com.
 
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