Pieris Receives Third Milestone Payment in Daiichi Sankyo Collaboration
Pieris AG has achieved its third milestone overall in its discovery and development collaboration with Daiichi Sankyo Company Limited, triggering an undisclosed payment, the company announced. The milestone, which is the first for the companies’ second collaborative program, was triggered by the delivery of several functional picomolar affinity Anticalins®specific for an undisclosed Daiichi Sankyo target.
“This achievement demonstrates not only the repeated success we continue to experience in our relationship with Daiichi Sankyo, but also the ability of the Anticalin technology to deliver highly potent binders against a very diverse spectrum of targets,” Stephen Yoder, CEO of Pieris stated. “Once again, Pieris has rapidly delivered these compounds, and subsequent milestones for each program are well within our sights.”
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.
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