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Pieris achieves third payment milestone in R&D collaboration with Sanofi

Pieris Pharmaceuticals has achieved the third payment-based milestone in its R&D collaboration with Sanofi, triggering a payment of an undisclosed amount to Pieris.

The milestone stems from Sanofi’s decision to continue advancing the tetraspecific Anticalin-based program for infectious disease.

The drug candidate selectively binds four classes of siderophores produced by Pseudomonas aeruginosa, altogether comprising ten distinct targets. With the demonstrated ability to bind to each target in an iron-bound and -unbound state, the multispecific protein engages twenty targets.

Pieris president and CEO Stephen Yoder said: "We’re pleased with the continued progression of this highly differentiated therapeutic protein, which is being pursued to treat infectious diseases that are not adequately addressed with current therapies.

"As our partnered programs continue to advance, resulting milestone income should play a growing role in the source of capital to advance our proprietary pipeline."