Pieris, Daiichi Sankyo In Anticalin Development Deal

Pieris AG has entered into a collaboration and license agreement with Daiichi Sankyo Co. Ltd., under which Pieris will apply its Anticalin scaffold technology to discover novel Anticalins against two Daiichi Sankyo targets. Based on Pieris’ discovery and achievement of preclinical development milestones for lead Anticalin drug candidates, Daiichi Sankyo will assume responsibility for further development and marketing of the Anticalin compounds.

Pieris will receive more than $10 million upfront as well as research funding and payments for the achievement of preclinical, regulatory and commercial milestones. Pieris is eligible to receive more than $144.5 million per target in license fees, funding and milestones upon full commercialization, as well as royalties on sales from marketed Anticalins resulting from the collaboration. Daiichi Sankyo will have exclusive marketing rights worldwide for all products.

“Pieris stands in a unique position as an enabling company in the targeted therapeutics space when traditional biological approaches are untenable,” said Stephen Yoder, chief executive officer of Pieris. “Our deal with Daiichi Sankyo demonstrates yet again the high value of the Anticalin technology and we’re extremely proud to count Daiichi Sankyo among the growing list of industry leaders who are our collaboration partners.”