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news.Pieris has received €1m grant to support the development of its proprietary PRS-110 compound targeting c-Met, a cellular receptor that plays a key role in cancer cell growth and metastasis.
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The grant was obtained through Bundesministeriumfur Bildung und Forschung or German Federal Ministry for Education and Research (BMBF) ) Leading Edge Cluster program.
The goal of the funded research is to delineate a biomarker strategy for early clinical development and to aid in the progression of a personalized medicine approach with PRS-110.
The grant, managed by BioM, will match Pieris’ funding of the PRS-110 project by underwriting the company’s internal efforts and collaborative research from additional companies and academic institutions.
Pieris CEO Stephen Yoder said the grant represents a validation of PRS-110’s potential as a targeted cancer therapeutic and recognizes the progress achieved in moving the program closer to clinic.