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news.Pieris Pharmaceuticals, a biotechnology company advancing its proprietary Anticalin biotherapeutic technologies, announced it will receive its third milestone payment for the second program in its discovery and development collaboration with Daiichi Sankyo Company, Limited (Daiichi Sankyo), and seventh milestone payment overall under the multi program collaboration.
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The amount of payment was not disclosed. The payment was triggered by the achievement of positive in vivo proof of concept data and progression of the Anticalin drug candidate through a non-GLP toxicity study in non-human primates.
Under the terms of the collaboration with Daiichi Sankyo, Pieris receives committed research funding and payments for the achievement of research, preclinical, regulatory and commercial milestones.
The partnership could encompass for Pieris approximately EUR 100 million per program in license fees, funding and milestones, not including royalties on sales from marketed Anticalin proteins that may result from the collaboration. Daiichi Sankyo will have exclusive marketing rights worldwide for all products under the agreement used for therapeutic purposes.
"We are both excited and proud to see our Anticalin technologies continue to achieve important milestones in our drug development collaborations with Daiichi Sankyo," commented Stephen Yoder, President and CEO of Pieris.
"With multiple shots on goal within this collaboration and continued advancement of these drug candidates, this collaboration remains a key value driver for Pieris."
Chau Khuong, a Partner at OrbiMed Advisors and Chairman of the Board of Directors of Pieris, stated, "To date, Pieris has received approximately $40 million in milestone and licensing payments as a result of its several collaborations. These payments speak to the ongoing success our Anticalin compounds are achieving in these partnerships."