Billion-dollar deal for Pieris

Billion-dollar deal for Pieris

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Munich-based Pieris enters into a research collaboration with Roche subsidiary Genentech on therapies for respiratory diseases and ophthalmology. Pieris will receive USD 20 million as an upfront payment and is eligible for more than USD 1.4 billion in additional potential milestone payments plus royalties on commercialized programs.

Pieris, a biotechnology company, is developing novel biotherapeutics for respiratory diseases, cancer and other indications using its proprietary Anticalin® technology platform. Under the terms of the collaboration with California-based biotechnology company Genentech, Pieris will discover, develop and commercialize locally administered therapies for respiratory and ophthalmic diseases using its Anticalin technology. Pieris' expertise will be combined with Genentech's preclinical and clinical development expertise.

"We look forward to working closely with Genentech on the development of new inhaled and ophthalmological treatments based on the Anticalin platform. This collaboration further expands our partnered efforts in respiratory diseases and opens a new avenue for our Anticalin technology to potentially provide patient benefit through local biological effects. This is our second respiratory alliance with a major biopharma company, and we remain deeply committed to inhaled biologics, which have already shown benefit in the clinic. We also look forward to pursuing another local application of our technology in ophthalmology, where Genentech has extensive capabilities," said Stephen S. Yoder, President and Chief Executive Officer of Pieris.

"Genentech has a longstanding commitment to understanding the underlying biology of respiratory and ocular diseases and translating this expertise into treatments for patients," said James Sabry, M.D., Ph.D., Global Head of Pharma Partnering, Roche. "We are excited to partner with Pieris Pharmaceuticals to advance potential new therapies that we hope could make a significant difference in the lives of people who need them."

Under the terms of the agreement, Pieris will receive USD 20 million as an upfront payment and may be eligible to receive more than USD 1.4 billion in additional milestone payments across multiple programs, as well as tiered royalties for commercialized programs. Pieris will be responsible for discovery research and early preclinical development of the programs, and Genentech will be responsible for IND-enabling activities, clinical development, and commercialization of those programs. Genentech will also have the option to select additional targets in return for an option exercise fee. The collaboration does not include any of Pieris' internal programs.