AstraZeneca enters respiratory diseases collaboration with Pieris
AstraZeneca (LSE: AZN) today announced a strategic collaboration in respiratory diseases with USA-headquartered biotech firm Pieris Pharmaceuticals (Nasdaq: PIRS) to develop novel inhaled drugs that leverage Pieris’ Anticalin platform.
The news sent Pieris’ shares rocketing 37.9% to $2.40 in pre-market trading this morning.
Under the collaboration, Pieris will be responsible for advancing its preclinical lead candidate, PRS-060 into Phase I clinical trials in 2017. PRS-060 is an Anticalin against interleukin-4 receptor alpha (IL-4Ra) with potential in asthma. Anglo-Swedish pharma major AstraZeneca will fund all clinical development and subsequent commercialization programs and Pieris has the option of co-development and co-commercialization in the US from Phase IIa onwards. In addition, the parties will collaborate to progress four additional novel Anticalins against undisclosed targets for respiratory disease.
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