Pieris Pharmaceuticals provides business update for investors

Nasdaq-listed Pieris Pharmaceuticals has provided a business update for investors, detailing clinical and commercial progress in the last two years. The firm is using its Anticalin platform technology to develop candidates, including in oncology and hematology.

The firm notes collaborations with AstraZeneca, Roche, Servier, Sanofi, and Daiichi-Sankyo, generating nearly $80 million in cash flow in 2017.

These deals could be worth up to $4.4 billion in potential milestone payments plus royalties from future product sales.

A collaboration with AstraZeneca to develop and commercialize Anticalin-based inhaled treatments for respiratory diseases, including PRS-060, was reached in March.

Since its inception, the firm has taken in $150 million from investors as well as $145 million in licensing and milestone payments from partners.