AstraZeneca and Pieris entered a strategic collaboration to develop inhaled Anticalin-based respiratory therapies. Pieris received $45M upfront plus $12.5M for Phase 1 initiation of PRS-060 (~$57.5M near-term), with potential for up to $2.1B in development and commercial milestones plus tiered royalties. AstraZeneca funds all development; Pieris retains U.S. co-development/co-commercialization option from Phase 2a.
Did it work? Outcome assessment
Strategic verdict
Failed to Achieve
Financial impact
Neutral
Pipeline outcome
Assets Terminated
Assessment window: 5yr post-close.
Key facts
AnnouncedMay 02, 2017
ClosedJun 21, 2017
Deal value$2.2B
Deal typeLicensing/Option
Therapeutic areaAsthma; respiratory diseases
IndicationsAsthma; respiratory diseases
Key assetsPRS-060 (elarekibep) plus four additional Anticalin programs
MechanismAnticalin protein targeting IL-4 receptor alpha (PRS-060) plus four undisclosed respiratory targets