Pieris Achieves Milestone Payment in Daiichi Sankyo Collaboration to Develop Anticalin Therapeutics
Pieris AG announced that it has achieved a second milestone for its second program, and fifth milestone overall, in its discovery and development collaboration with Daiichi Sankyo Company Limited, triggering an undisclosed payment. 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 transfer development responsibility of the program to Daiichi Sankyo, who will initiate further in vivo studies in non-human primates.
“A major advantage of the Anticalin technology is the ability to reliably generate made-to-order next generation therapeutic proteins. Handing over yet another drug candidate to a collaboration partner is solid evidence of this point,” Stephen Yoder, CEO of Pieris, stated. “The several milestones we have achieved to date have provided a reliable and material source of capital to help advance proprietary programs.”
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.
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