Pieris Pharmaceuticals Achieves Milestone Payment from Boston Pharmaceuticals

Pieris Pharmaceuticals, Inc. (Nasdaq: PIRS) has achieved an undisclosed milestone payment from Boston Pharmaceuticals. The milestone is based on dosing the first patient in a phase 1/2 study of BOS-342, which is designed to provide a potent costimulatory bridge to exert tumor killing activity through the recruitment of T-cells.

The open-label phase 1/2 study is designed to evaluate the safety, tolerability, pharmacokinetics, and efficacy of BOS-342 in adults with hepatocellular carcinoma (HCC).

Highlights

The study is funded and conducted by Boston Pharmaceuticals, who exclusively licensed worldwide rights to BOS-342 in April 2021.

Pieris could potentially be entitled to receive up to approximately $350 million in development, regulatory and sales-based milestone payments, and tiered royalties on sales of BOS-342.

Sophie Kornowski, CEO of Boston Pharmaceuticals, said, “Dosing of the first patient with BOS-342 represents an important milestone for the BOS-342 program and, more importantly, for patients with HCC, many of whom often do not achieve durable benefit from current available treatment regimens. Preclinical data strongly support our belief that BOS-342 has the potential to address a significant unmet need as a treatment for patients with GPC3+ HCC.”

About Pieris Pharmaceuticals

Pieris is a clinical-stage biotechnology company that combines leading protein engineering capabilities and deep understanding into molecular drivers of disease to develop medicines that drive local biology to produce superior clinical outcomes for patients. Our pipeline has historically focused on inhalable Anticalin proteins to treat respiratory diseases and locally-activated bispecifics for immuno-oncology. Proprietary to Pieris, Anticalin proteins are a novel class of therapeutics validated in the clinic and by strong partnerships with leading pharmaceutical companies. For more information, visit www.pieris.com.

Share This Article

 

About the Author

Pieris Pharmaceuticals Achieves Milestone Payment from Boston Pharmaceuticals

Editor Prism MarketView