CEO Stephen Yoder (Pieris)

Pieris inks res­pi­ra­to­ry part­ner­ship with Genen­tech, adding an­oth­er to slate of mile­stone-heavy deals

Four years af­ter strik­ing an up to $2 bil­lion res­pi­ra­to­ry part­ner­ship with As­traZeneca, Pieris Phar­ma­ceu­ti­cals has added an­oth­er deal with a mar­quee phar­ma part­ner: Genen­tech.

Genen­tech agreed to pay $20 mil­lion up­front in mile­stones to ac­cess Pieris’ pro­tein tech­nol­o­gy for res­pi­ra­to­ry dis­eases, where the small biotech al­ready has mul­ti­ple clin­i­cal can­di­dates, and oph­thal­mol­o­gy, where they have yet to wade. The deal in­cludes $1.4 bil­lion in mile­stones, al­though most of them re­main years away: $11 mil­lion, per can­di­date, are avail­able in the pre­clin­i­cal mile­stones — i.e. the next 18 to 36 months of de­vel­op­ment.

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