Pharma BD Deal Intelligence

Servier / Pieris Pharmaceuticals, Inc.

2017 · Co-Development · $1.7B · Terminated

A collapsed bet: Servier paid Pieris EUR 30M upfront for five bispecific Anticalin programs led by PRS-332, but Servier exited in 2024 citing a safety signal in the S095012 Phase 1 study after PRS-332 had already been shelved.

Outcome grade pending — assessed 5 years post-close.

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The coverage arc

Jan 05, 2017 BioSpace Bullish

Tiny Boston biotech Pieris nabs $570M+ cancer deal with French powerhouse Servier, validating the Anticalin platform with a marquee European partner.

Jan 05, 2017 GEN (Genetic Engineering News) Bullish

Servier and Pieris launch up to EUR 1.7B immuno-oncology alliance for five bispecific Anticalin therapeutics, with PRS-332 as the lead…

Jul 08, 2024 Pharmaphorum Bearish

Pieris loses Servier as partner for cancer immunotherapies after Servier exits the 2017 Anticalin alliance citing a potential safety signal in the…

Source summaries from our enrichment pipeline; follow links for originals.

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Servier and Pieris launched a strategic immuno-oncology co-development alliance for five bispecific Anticalin therapeutics led by PRS-332 (anti-PD-1 Anticalin bispecific). Servier paid Pieris EUR 30M (~$31M) upfront plus eligibility for up to EUR 324M (~$338M) in milestones for PRS-332 and up to EUR 193M per additional program (~EUR 1.5B / ~$1.7B aggregate) plus tiered royalties. Pieris retains U.S. commercial rights; Servier holds ex-U.S. rights.

Key facts

Disease & market context

Solid tumor immuno-oncology (PD-1 checkpoint resistance)

$23.0B Global PD-(L)1 inhibitor market 2022 (Fierce Pharma)

Disease Overview

Solid tumors evade the immune system through checkpoint pathways like PD-1, which suppresses T-cell killing. Despite Keytruda and Opdivo successes, only 20-30% of patients respond, leaving large unmet need for next-generation bispecific checkpoint approaches that can engage exhausted T-cells co-expressing multiple inhibitory receptors.

Competitive Landscape

By 2017 the PD-1/PD-L1 class was dominated by Merck's Keytruda (pembrolizumab) and BMS's Opdivo (nivolumab), with Roche's Tecentriq (atezolizumab), AstraZeneca's Imfinzi (durvalumab), and Pfizer/Merck KGaA's Bavencio (avelumab) rounding out the field. The class was approved across 9 tumor types by end of 2017 and is now a >$23B global market. The next competitive frontier became bispecifics that combine PD-1 blockade with a second checkpoint (LAG-3, TIM-3, TIGIT) on a single molecule. Pieris's Anticalin scaffold offered a non-antibody, smaller-format alternative to bispecific IgG approaches from Akeso/Summit (ivonescimab, PD-1xVEGF) and Roche/Genentech (vibostolimab-class assets). PRS-332 (anti-PD-1 Anticalin bispecific) was the lead asset; Servier's January 2017 deal gave Servier ex-US rights across five programs. The deal ultimately failed: Servier terminated in July 2024 citing safety concerns from the S095012 Phase 1 study, and PRS-332 itself never advanced to clinic.

Related deals — scored

DealYearValueOutcome
Servier / Pieris Pharmaceuticals, Inc. (this deal)2017$1.7B
Servier / Agios Pharmaceuticals (oncology)2020$2.0B91
Servier / Shire plc (Oncology Business)2018$2.4B88
Servier / Edgewise Therapeutics, Inc.2026$2.6B75
Servier / Symphogen A/S200666
Servier / Aitia2024
Servier / AmoyDx2024

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