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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