Pieris Signs Broad Collaboration with Sanofi-Aventis and Sanofi Pasteur to Develop Anticalin Therapeutics

Freising-Weihenstephan (ots) - Pieris AG announced today the
signature of a collaboration and license agreement with both
Sanofi-Aventis and Sanofi Pasteur, the vaccines division of the
sanofi-aventis Group (EURONEXT: SAN and NYSE: SNY), under which
Pieris will apply its proprietary Anticalin technology to discover
novel Anticalin drugs against multiple targets, with further
development undertaken by Sanofi-Aventis and Sanofi-Pasteur. The
collaboration will initially involve two targets nominated by
Sanofi-Aventis and Sanofi-Pasteur, and includes the option for four
additional targets.

Anticalins are a novel generation of targeted therapeutics and are
sourced from Pieris' proprietary libraries. They have the potential
to overcome some of the constraints of monoclonal antibodies, thereby
allowing novel therapeutic approaches.

"This multi-year collaboration underscores our strategy of
developing a broad pipeline of therapeutic Anticalin drug candidates
comprising partnered programs in addition to our proprietary drug
portfolio," noted Stephen Yoder, CEO of Pieris. "The opportunity to
collaborate with a pharmaceutical company of sanofi-aventis' caliber
is an exciting step as we continue to demonstrate the diverse
applicability of the Anticalin technology."

"Sanofi-Aventis' basic objective of finding new solutions to
address patients' needs is furthered in this collaboration by
exploiting innovative technology which focuses on some of the
fundamental mechanisms of disease processes," commented Leopold
Bertea, VP of the Scientific Core Platform, Biologics Center at
sanofi-aventis. "Pieris' Anticalin technology will allow
sanofi-aventis to take a more comprehensive approach to developing
targeted therapeutics, as we believe the Anticalin technology will
complement our existing suite of more conventional technologies."

Under the terms of the agreement, Pieris will receive EUR 3.5
million in an upfront payment for the first two targets, plus
committed research funding and payments for the achievement of
research, preclinical, regulatory and commercial milestones.
Overall, the agreement could encompass for Pieris, per each product
resulting from the collaboration, up to EUR 26.5 million in
development milestones for the first therapeutic application and EUR
18 million in commercial milestones. Further milestones would be
received by Pieris with respect to the same product in the case of
development of that product in additional therapeutic applications.
Payments will also include tiered royalties on sales of products
resulting from the collaboration. Sanofi-Aventis and Sanofi Pasteur
will have exclusive marketing rights worldwide for all such products.

About Sanofi-Aventis

Sanofi-Aventis, a leading global pharmaceutical company,
discovers, develops and distributes therapeutic solutions to improve
the lives of everyone. sanofi-aventis is listed in Paris (EURONEXT:
SAN) and in New York (NYSE: SNY).

About Sanofi Pasteur

Sanofi Pasteur, the vaccines division of Sanofi-Aventis Group,
provided more than 1.6 billion doses of vaccine in 2008, making it
possible to immunize more than 500 million people across the globe. A
world leader in the vaccine industry, Sanofi Pasteur offers the
broadest range of vaccines protecting against 20 infectious diseases.
The company's heritage, to create vaccines that protect life, dates
back more than a century. Sanofi Pasteur is the largest company
entirely dedicated to vaccines. Every day, the company invests more
than EUR 1 million in research and development. For more information,
please visit: www.sanofipasteur.com or www.sanofipasteur.us.

About Pieris

Pieris AG is an independent biotechnology company advancing its
proprietary Anticalin technology to create safer, more efficacious
and more convenient protein therapeutics. Exclusive to Pieris,
Anticalin-based drugs promise to address high-unmet medical needs and
expand the therapeutic potential of current targeted approaches.
Pieris' pipeline ranges from its lead compound (anti-VEGF, oncology),
which entered the clinic in the first half of 2010, to multiple
Anticalins in preclinical development. Pieris will commercialize
Anticalin therapeutics through strategic partnerships, involving both
its proprietary pipeline and its de novo drug discovery capabilities.
Apart from today's announced deal, its most recent partnership is
with Allergan, Inc. (NYSE: AGN), focusing on novel treatments for eye
diseases. Privately held, Pieris has been funded by premier
biotechnology-focused venture capital, including lead investors
OrbiMed Advisors and Global Life Science Ventures. For more
information, please visit: http://www.pieris-ag.com .

Originaltext: Pieris AG
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For more information, please contact:
Pieris AG, Stephen Yoder, CEO
+49 (0) 8161 1411 400, info@pieris-ag.com