BRIEF—Seagen makes equity investment in Pieris

Pieris Pharmaceuticals has received a $13 million equity investment from Seagen, as part of an ongoing collaboration between the two companies.

The firm is advancing novel biologic therapies using its proprietary Anticalin technology platform in the area of oncology, respiratory diseases and other indications.

In a filing with the US Securities and Exchange Commission (SEC), Pieris set out details of a new clinical trial collaboration to test a combination of its own cinrebafusp alfa (PRS-343) and Seagen’s Tukysa (tucatinib), a small-molecule tyrosine kinase inhibitor.

The combination will be tested for certain people with gastric cancer in an upcoming Phase II study.