Pieris AG enters into Anticalin Collaboration with Allergan, Inc.

Freising-Weihenstephan, Germany (ots) - Pieris AG today announced
that they have entered into a collaboration agreement with Allergan,
Inc. (NYSE: AGN) that combines Pieris' proprietary Anticalin
technology with Allergan's expertise in drug delivery and ophthalmic
drug development with a goal of developing agents for the treatment
of serious ocular disorders.

Under the terms of the collaboration Pieris will work with
Allergan to optimize existing lead Anticalins and to design novel
Anticalins. Allergan will be solely responsible for all discovery,
development, and commercialization costs and will be responsible for
clinical development and related activities and commercialization.

Pieris has granted Allergan a worldwide and exclusive license to
Allergan for specific Anticalins to be used in the field and in
return will receive an upfront payment of $10,000,000. Further
financial terms were not disclosed. Pieris is developing Anticalins
for the treatment of a variety of disorders. Anticalins are a novel
class of biologic drugs that are engineered to bind disease-relevant
targets with high affinity and specificity. They are based on
naturally occurring proteins called lipocalins, which are present in
human plasma and body fluids where they function to bind, store and
transport various small molecules including lipids and hormones.

Anticalins possess multiple distinguishing features, including an
inherently high degree of stability, a property that lends itself to
depot formulation strategies. Anticalins benefit from their small
size (20kDa) and are produced in micro-organisms, thus conferring a
significant cost advantage to the production of the therapeutic
agent.

"Allergan has world class expertise in ophthalmology, and we look
forward to working together to develop Anticalins as important
medicines for the treatment of a number of ocular diseases. This
collaboration further validates the potential for Anticalins as a new
drug-class", said Claus Schalper, Interim-CEO of Pieris.

About Pieris AG Pieris AG is an emerging biopharmaceutical company
based in Freising, Germany focused on the discovery and advancement
of Anticalins for the treatment of a variety of serious human
diseases. The lead program PRS-050 is currently in late stage
preclinical development for the indication oncology and will enter
the clinic early next year. Founded in 2001, Pieris is funded by a
number of international leading venture capital firms. For additional
information, please visit the company's website, www.pieris-ag.com

Originaltext: Pieris AG
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For further information, please contact:
Dr. Birgit Zech, Director Business Development
Pieris AG, Phone: +49-8161-1411400