Pieris Enters Into Collaboration Agreement With Allergan

Pieris has entered into a collaboration agreement with Allergan that combines Pieris’ proprietary Anticalin technology with Allergan’s expertise in drug delivery and ophthalmic drug development with a goal of developing agents for the treatment of serious ocular disorders.

Under the terms of the collaboration Pieris will work with Allergan to optimise existing lead Anticalins and to design novel Anticalins.

Reportedly, Allergan will be solely responsible for all discovery, development, and commercialisation costs and will be responsible for clinical development and related activities and commercialisation.

Pieris has granted Allergan a worldwide and exclusive license to Allergan for specific Anticalins to be used in the field and in return will receive an upfront payment of $10,000,000.

Claus Schalper, interim-CEO of Pieris, said: “We look forward to working together to develop Anticalins as important medicines for the treatment of a number of ocular diseases. This collaboration further validates the potential for Anticalins as a new drug-class.”