Pieris to Present Interim Data from the Phase I Clinical Trial of PRS-050 at Molecular Medicine Tri-Conference

Freising, Germany (ots) - Pieris AG announced today the upcoming
presentation of new preclinical and interim Phase I clinical trial
data for its PRS-050 Anticalin( program, currently under evaluation
for the treatment of cancer. Dr. Laurent Audoly, Chief Scientific
Officer of Pieris, will speak on Friday, February 25, at the
Molecular Medicine Tri-Conference held in San Francisco, California.
His presentation is titled, "Pre-clinical and Interim Phase I of
PRS-050 - a Unique and Novel Non-Fc Domain Biobetter VEGF- A
Antagonist for the Treatment of Solid Tumors".

The ongoing Phase I clinical trial of PRS-050 is an open-label,
dose- escalating evaluation of the compound's safety and tolerability
in patients with solid tumors. PRS-050 is an anti-VEGF (Vascular
Endothelial Growth Factor) 40 kD PEGylated Anticalin discovered and
developed internally at the company. During the first half of 2010,
the compound began the clinical trial at three different sites in
Germany. To date, Pieris has amassed a strong preclinical data
package of in vivo efficacy in multiple models and a positive safety
profile, including encouraging data supporting its differentiated
activities to improve or complement current anti-VEGF therapeutics,
based primarily on the absence of an Fc domain and mode of target
engagement.

Pieris' proprietary Anticalin technology platform creates next
generation targeted therapeutics and addresses targets in ways that
traditional methods cannot. Anticalins are recombinantly engineered
lipocalins, endogenous low-molecular weight human proteins that
naturally bind, store and transport a wide spectrum of molecules. To
obtain a specific Anticalin, Pieris applies its deep protein
engineering know-how to select drug candidates from its suite of
rationally designed proprietary Anticalin libraries.

About Pieris Pieris AG is an independent, clinical-staged
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 Phase I compound, PRS-050 (anti-VEGF, oncology), to multiple
Anticalins in preclinical development. The company has three ongoing
collaborations: a drug discovery partnership with Takeda San
Francisco; a multi-year, multi-target agreement with Sanofi-Aventis
and Sanofi Pasteur (EUROMEXT: SAN and NYSE: SNY); and a deal 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: www.pieris-ag.com.

For more information, please contact:
Stephen Yoder
Chief Executive Officer
Tel: +49 (0) 8161-1411-400