Pieris Pharmaceuticals and The University of Melbourne Receive Research Grant to Advance Immunological Diseases Program
Pieris Pharmaceuticals, Inc. (OTCQB:PIRS) and The University of Melbourne announced the receipt by the University of a research grant to further develop Pieris’ protein Anticalin®-brand therapeutic, PRS-060, in immunological diseases.
The grant - which will support Pieris’ Australian subsidiary, Pieris Australia, and is disbursed by Australia’s peak medical research funding body, the National Health and Medical Research Council (NHMRC) - totals more than $AUS 500,000 and covers activities to advance PRS-060 for inhaled delivery to treat asthmatics.
Pieris president and chief executive officer, Stephen Yoder, commented, “Pieris is a nimble organization with a broad reach, and today’s announcement underpins our strategy of pursuing opportunities on a global scale to marry our Anticalin drug candidates with complementary disease biology capabilities. This grant adds to the existing financial benefits that Pieris Australia is already realizing from the Australia R&D tax credit, which provides more than 40% cost reimbursement for qualified expenses.”
The grant awards a total of $AUS 564,061.50 ($444,125 USD) between January 1, 2015, and December 31, 2016, for technical and development activities on PRS-060, which is currently in preclinical development.
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