Print“Pieris stands in a unique position as an enabling company in the targeted therapeutics space when traditional biological approaches are untenable, says Stephen Yoder, CEO.”
Pieris signed its third partnering deal in seven months to apply its anticalin scaffold technology in drug discovery. Japanese pharma Daiichi Sankyo will pay the private German biotech $10 million (€7 million) upfront under a collaboration and licensing agreement under which Pieris will apply its technology to discover novel anticalins against two Daiichi Sankyo targets.
Anticalins are engineered human proteins that bind like monoclonal antibodies but are structurally designed to fit a specific target, allowing them to be highly targeted, safer, and more effective. Their high stability and small size allow for novel formulations and delivery opportunities not available to other targeted biologics.
“Pieris stands in a unique position as an enabling company in the targeted therapeutics space when traditional biological approaches are untenable,” says Stephen Yoder, CEO of Pieris.
The deal calls for Pieris to apply its anticalin technology to discover novel anticalins against two Daiichi Sankyo targets. The Japanese pharma will assume responsibility for development and marketing after Pieris achieves early preclinical development milestones for lead anticalin drug candidates.
Besides the upfront payment at signing, Pieris will receive committed research funding and payments of up to $145 million (€100 million) per target based on successful achievement of research, preclinical, regulatory, and commercial milestones. Daiichi Sankyo will have exclusive marketing rights worldwide for all commercialized anticalin products and Pieris will be entitled to royalties on sales resulting from the collaboraton.
This is Pieris’ third major pharma deal in the last seven months, following a drug discovery collaboration with Sanofi Pasteur in September 2010 and another with Takeda’s U.S. subsidiary in January 2011. The company has its own lead molecule, an anti-VEGF therapeutic in oncology in early stage development plus a pipeline of pre-clinical anticalins.
April 13, 2011
http://www.burrillreport.com/article-pieris%e2%80%99_anticalins_gain_traction.html
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