Pieris inks deal with Daiichi Sankyo for Anticalin therapeutics

Independent German biotech firm Pieris AG has entered into of a collaboration and license agreement with Japanese drug major Daiichi Sankyo (TYO: 4568), under which Pieris will apply its proprietary Anticalin scaffold technology to discover novel Anticalins against two Daiichi Sankyo targets.

Under the terms of the deal, Pieris will receive more than EUR 7 million euros ($10.1 million) on signing for the two targets. In addition, the German firm will receive committed research funding and payments for the achievement of research, preclinical, regulatory and commercial milestones. The partnership could encompass for Pieris more than 100 million euros per target in license fees, funding and milestones provided the nominated Anticalin achieves full commercialization, and tiered, mid- to mid-high single digit royalties on sales from marketed Anticalins resulting from the collaboration. Daiichi Sankyo will have exclusive marketing rights worldwide for all such products.

On discovery and achievement by Pieris of early preclinical development milestones for lead Anticalin drug candidates, Daiichi Sankyo will assume responsibility for further development and marketing of the Anticalin compounds.