Germany-based Pieris will collaborate with Japan-based Daiichi Sankyo and sign a licensed agreement under which Pieris will apply its Anticalin scaffold technology to discover novel Anticalins against two Daiichi Sankyo targets. As part of the agreement, Pieris will be responsible for early preclinical development for Anticalin drug candidates, and Daiichi Sankyo will assume responsibility for further development and marketing of the Anticalin compounds.

Pieris will receive more than $10 million for the two targets. In addition, Pieris will receive committed research funding and payments for the achievement of research, preclinical, regulatory and commercial successes. Daiichi Sankyo will have exclusive marketing rights worldwide for all such products.