April 26, 2021 -- Pieris Pharmaceuticals has licensed its preclinical PRS-342 bispecific immuno-oncology antibody to Boston Pharmaceuticals.
PRS-342 is a 4-1BB/glypican‐3 (GPC3) preclinical immuno-oncology Anticalin-antibody bispecific fusion protein. Anticalin proteins are a proprietary class of therapeutics made up of artificial proteins that are able to bind to antigens.
Under the exclusive worldwide product license agreement, Pieris will receive $10 million upfront and be eligible for up to $353 million in additional milestone payments as well as tiered royalties, according to the companies.
Boston Pharmaceuticals will be responsible for development of the program, with both companies collaborating during the investigational new drug (IND)-enabling stage. Pieris will also contribute an undisclosed amount toward manufacturing activities.
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