Pieris and Daiichi Sankyo Sign Therapeutic Collaboration to Develop Anticalin(R) Therapeutics

Freising, Germany (ots) - Pieris AG announced today the signature
of a collaboration and license agreement with Daiichi Sankyo Company
Limited (hereinafter Daiichi Sankyo; headquartered in Chuo Ward,
Tokyo, TSE 4568), under which Pieris will apply its proprietary
Anticalin scaffold technology to discover novel Anticalins against
two Daiichi Sankyo targets. Upon discovery and achievement by Pieris
of early preclinical development milestones for lead Anticalin drug
candidates, Daiichi Sankyo will assume responsibility for further
development and marketing of the Anticalin compounds.

"Pieris stands in a unique position as an enabling company in the
targeted therapeutics space when traditional biological approaches
are untenable," noted Stephen Yoder, CEO of Pieris. "Our deal with
Daiichi Sankyo demonstrates yet again the high value of the Anticalin
technology and we're extremely proud to count Daiichi Sankyo among
the growing list of industry leaders who are our collaboration
partners."

Under the terms of the agreement, Pieris will receive more than E
7 million upon signing of the collaboration agreement for the two
targets. In addition, Pieris will receive committed research funding
and payments for the achievement of research, preclinical, regulatory
and commercial milestones. The partnership could encompass for
Pieris more than E 100 million per target in license fees, funding
and milestones provided the nominated Anticalin achieves full
commercialization, and tiered, mid- to mid-high single digit
royalties on sales from marketed Anticalins resulting from the
collaboration. Daiichi Sankyo will have exclusive marketing rights
worldwide for all such products.

Pieris' proprietary Anticalin technology platform creates next
generation targeted therapeutics and addresses targets in ways that
traditional technologies such as monoclonal antibodies 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 Daiichi Sankyo

Daiichi Sankyo Group is dedicated to the creation and supply of
innovative pharmaceutical products to address the diversified, unmet
medical needs of patients in both mature and emerging markets. While
maintaining its portfolio of marketed pharmaceuticals for
hypertension, hyperlipidemia, and bacterial infections, the Group is
engaged in the development of treatments for thrombotic disorders and
focused on the discovery of novel oncology and cardiovascular-
metabolic therapies. Furthermore, the Daiichi Sankyo Group has
created a "Hybrid Business Model," which will respond to market and
customer diversity and optimise growth opportunities across the value
chain. For more information, please visit: www.daiichisankyo.com.

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. Not including today's announcement, 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.

--END--

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