Pieris raises EUR 25 M (US$ 38 M) in Series B financing round / New investment round led by OrbiMed Advisors, world?s largest healthcare investment firm

Freising-Weihenstephan, Germany (ots) - Pieris AG, a
biopharmaceutical company developing Anticalins®, a novel class of
targeted human protein therapeutics, announced today the closing of a
Series B financing round.

Led by new investor OrbiMed Advisors LLC, a major global fund
dedicated to healthcare, together with Novo Nordisk A/S via Novo
Nordisk Biotech Fund, Novo Nordisk's internal corporate venture fund,
the EUR 25 million (US$ 38 million) financing enables the Company to
progress its proprietary Anticalin® product portfolio and prioritise
clinical development of its VEGF-modulating cancer product, PRS-050.
All existing investors participated in this financing round,
including Global Life Science Ventures, Gilde Healthcare Partners and
Forbion Capital Partners.

Commenting on the announcement, Evert Kueppers, Chief Executive
Officer of Pieris, said: "This financing event marks a significant
milestone in the evolution of Pieris as a product-focused
biopharmaceutical company. Having engaged renowned investors such as
OrbiMed and Novo Nordisk, Pieris is now in the position to deliver on
its strategy of developing Anticalins® as the next class of
biopharmaceutical products." "We welcome Michael Sheffery as a new
member of the Supervisory Board and I am looking forward to working
with him", he added.

Michael Sheffery Ph.D., General Partner at OrbiMed Advisors
stated: "Pieris has reached an exciting stage in its development,
having focused its business to prioritise product development in
areas fundamentally suited to its proprietary technologies. OrbiMed
views this investment as highly significant at a time of enormous
commercial interest in biologic therapies".

Hans A. Kuepper Ph.D., Chairman of Pieris' Supervisory Board and
Partner of Global Life Science Ventures, Germany, commented further:
"Pieris has made remarkable progress in the course of the past year
and this financing event enables the Company to further execute its
strategy and to leverage the value in its proprietary Anticalin®
approach".

Notes to editors

About Pieris AG

Pieris is a biopharmaceutical company engaged in the discovery and
development of Anticalins®, a novel class of targeted human proteins
designed to diagnose and treat serious human disorders. Exploiting
extensive know-how in protein engineering as part of a broad
intellectual property portfolio, the Company applies a balanced risk
business model to the development of Anticalin product candidates.

About Anticalin® Technology

Anticalins® are engineered binding proteins derived from the
scaffold of natural human lipocalins. Anticalins are selected to have
prescribed binding properties with selectivity and affinity
fundamentally similar to that of monoclonal antibodies. Being human
in origin, Anticalins are predicted to have minimal immunogenicity in
man. Furthermore, compared to conventional antibodies Anticalins
benefit from their small size (20 kDa), robust physicochemical
properties and simple composition that together allow highly soluble
and stable products to be manufactured from bacteria. Anticalins are
amenable to further engineering to balance their favorable tissue
penetration with adjustable serum half life. Moreover, Anticalins
have been developed as Duocalins®, whose dual targeting format allows
multiple targets to be bound and modulated through a single molecule.

Pieris exclusively owns the Anticalin patent estate, which offers
complete freedom to operate outside the patent boundaries defined by
conventional antibody products. Key patents have already been granted
both in the US and in Europe.

About PRS-050

PRS-050 Anticalin® has been designed to specifically bind and
block the signalling activity of vascular endothelial growth factor
(VEGF) in cancer. Optimised for extended serum half-life, PRS-050
exhibits comparable binding and functional in vitro activity to
approved VEGF antagonists. Potent inhibition of VEGF-induced enhanced
vascular permeability and angiogenesis, as well as anti-tumour
activity, have already been demonstrated for PRS-050 in various
well-validated in vivo preclinical studies.

As a next generation VEGF antagonist, PRS-050 exploits several
favourable characteristics of Anticalins®, including compact protein
structure, high intrinsic stability, broad formulation flexibility
and small molecular size with the potential to penetrate
neovascularized tumour tissue more effectively. PRS-050 is currently
being prepared for a Phase I study in patients with advanced
malignancies.

Further information on Pieris AG is available at www.pieris-ag.com

Anticalin® and Duocalin® are registered trademarks of Pieris AG.

About OrbiMed Advisors, LLC

OrbiMed is a preeminent asset management firm focused on the
global health sciences industry, with over $6 billion in assets under
management across a family of venture capital funds, hedge funds and
other investment vehicles. OrbiMed's investment advisory activities
were founded in 1989 by Samuel D. Isaly, with a vision to invest
across the spectrum of healthcare companies from small privately-held
firms to large multinational companies. OrbiMed's investment team
includes over 20 experienced professionals with backgrounds in
science, medicine, finance and law. OrbiMed's professionals work
together in a collaborative, team-oriented approach. OrbiMed seeks to
be the capital provider of choice for life sciences companies
pursuing growth and new opportunities. Where appropriate,
particularly within its venture capital activities, OrbiMed supports
its invested companies in achieving strategic, financial and
operational objectives via participation at the Board of Directors
level. OrbiMed professionals currently serve on the Board of
Directors of many different life sciences companies.

Further information on OrbiMed is available at www.orbimed.com

About Novo Nordisk A/S

Novo Nordisk is a healthcare company and a world leader in
diabetes care. In addition, Novo Nordisk has a leading position
within areas such as haemostasis management, growth hormone therapy
and hormone replacement therapy. Novo Nordisk manufactures and
markets pharmaceutical products and services that make a significant
difference to patients, the medical profession and society. With
headquarters in Denmark, Novo Nordisk employs approximately 26,000
employees in 80 countries, and markets its products in 179 countries.
Novo Nordisk's B shares are listed on the stock exchanges in
Copenhagen and London. Its ADRs are listed on the New York Stock
Exchange under the symbol 'NVO'.

Further information on Novo Nordisk A/S is available at
www.novonordisk.com

Originaltext: Pieris AG
digital press kits: http://www.presseportal.de/pm/61954
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For further information, please contact:
Pieris AG
Phone +49 (0) 8161 1411 400
Claus Schalper,
Chief Financial Officer


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