Pieris inks €207M discovery deal with Daiichi Sankyo

Germany's Pieris AG has scored another drug discovery pact. Japan's Daiichi Sankyo has signed on, offering more than €7 million in an upfront payment and up to €200 million in fees, research funding and milestones. In the deal Pieris will use of its drug development platform to find two new drugs that can hit Daiichi Sankyo's targets.

"Our deal with Daiichi Sankyo demonstrates yet again the high value of the Anticalin technology and we're extremely proud to count Daiichi Sankyo among the growing list of industry leaders who are our collaboration partners," said Stephen Yoder, the CEO of Pieris. The biotech has forged a string of discovery deals for its Anticalin platform-including a recent pact with Sanofi--which develops recombinantly engineered lipocalins.

- here's the release for more