-The company said that it has reached into a multi-program research collaboration and license agreement with Genentech, a member of the Roche Group, to discover, develop and commercialize locally delivered respiratory and ophthalmology therapies that leverage Pieris’ proprietary Anticalin® technology.
-PIRS went on to explain that the collaboration will enable it to combine its robust discovery engine with Genentech’s targets, as well as its preclinical and clinical development expertise. As a result, the two will work together to create novel therapies for the treatment of respiratory and other ophthalmological diseases.
-Importantly, these two focus areas of the collaboration are uniquely suited to the advantages offered by the small size of Anticalin proteins when delivered locally.
-Under the terms of the agreement, Pieris will receive $20 million as an upfront payment and may be eligible to receive more than $1.4 billion in additional milestone payments across multiple programs, as well as tiered royalties for commercialized programs.
-In exchange, PIRS will be responsible for the discovery and early preclinical development of the programs. Genentech will be responsible for IND-enabling activities, clinical development, and commercialization of the programs. Moreover, Genentech will have the option to select additional targets in return for an option exercise fee.
-This news is huge! First and foremost, entering into a partnership with a company the size of Genentech comes with several advantages. Not to mention, the funding offered through this partnership will help to bolster Pieris Pharmaceuticals’ balance sheet.
-At the same time, none of the internal programs at the company are included in the partnership, meaning that everything that comes out of this collaboration will be a new revenue opportunity.