AstraZeneca enters a $2.1 billion collaboration with Pieris for drug research

AstraZeneca announced that it entered a strategic collaboration worth $2.1 billion with Pieris Pharmaceuticals to develop novel inhaled drugs that leverage Pieris’ Anticalin platform.

Under the collaboration, Pieris will be responsible for advancing its preclinical lead candidate, PRS-060 into Phase I clinical trials in 2017. PRS-060 is an Anticalin against interleukin-4 receptor alpha (IL-4Ra) with potential in asthma. AstraZeneca will fund all clinical development and subsequent commercialisation programmes and Pieris has the option of co-development and co-commercialisation in the US from Phase IIa onwards. In addition, the parties will collaborate to progress four additional novel Anticalins against undisclosed targets for respiratory disease.

AstraZeneca Executive VP, Mene Pangalos said that at AstraZeneca, discovering and developing innovative new medicines to treat respiratory disease is a key strategic priority. Their alliance with Pieris adds an important new modality to their respiratory portfolio and builds on their scientific expertise in inhaled formulation technologies. Pieris shares their passion for ground-breaking science and they look forward to working together to develop new, life-changing treatment options for patients.

Pieris President and CEO,Stephen Yoder said that their partnership with AstraZeneca accelerates the transformation of Pieris into a fully-integrated drug development and commercial organisation, comprising two main pillars in immunology: respiratory disease and immuno-oncology, each of which is now anchored by a major alliance. They recognize AstraZeneca’s unparalleled expertise in the development of inhaled drugs, which will maximize the potential of PRS-060 and other inhaled Anticalin molecules to become valuable assets for both companies.

AstraZeneca will make upfront and near-term milestone payments to Pieris in the amount of $57.5 million. Pieris has the potential to receive development-dependent milestones and eventual commercial payments for all products not exceeding $2.1 billion as well as tiered royalties on the sales of any potential products commercialised by AstraZeneca.