Pieris Pharmaceuticals

About Pieris Pharmaceuticals

Pieris Pharmaceuticals, which recently completed a reverse merger with Palvella Therapeutics, is a clinical-stage biotechnology company centered on the discovery and development of Anticalin-based drugs. The company was founded in 2001 by Claus Schalper, Arne Skerra, Christopher P. Kiritsy, Maya R. Said, and Peter Alec Kiener. Professor Arne Skerra of the Technical University of Munich is credited as the inventor of the core Anticalin technology. Claus Schalper, a serial life sciences entrepreneur, served as CFO and played a significant role in the company's evolution, including its listing on the NASDAQ exchange.

The company's proprietary Anticalin® technology platform is the cornerstone of its operations. Anticalins are engineered proteins derived from human lipocalins, which naturally transport small molecules in the body. These therapeutic proteins are smaller than conventional antibodies, a characteristic that allows for potentially better tissue penetration and delivery through methods like inhalation. The platform's modularity enables the creation of bi- and multi-specific proteins capable of binding to multiple targets simultaneously. Pieris' business model has been heavily reliant on strategic partnerships and collaborations with major pharmaceutical companies. These collaborations involve licensing its technology and drug candidates for development and commercialization, generating revenue through upfront payments, development milestones, and potential sales royalties. Notable partnerships have included agreements with Allergan, Roche, Boston Pharmaceuticals, and AstraZeneca, focusing on areas like ophthalmology, cancer immunotherapy, and respiratory diseases.

Pieris' product pipeline has been focused on immuno-oncology and respiratory diseases. Key programs have included bispecifics targeting pathways like PD-L1/4-1BB and CD228/4-1BB in collaboration with partners. For instance, the company entered a collaboration with AstraZeneca in 2017 to develop inhaled Anticalin treatments for respiratory diseases, with a lead candidate, elarekibep, targeting the interleukin-4 receptor alpha for asthma. However, this partnership was later terminated following non-clinical safety findings. In recent years, Pieris has faced significant setbacks, including a workforce reduction of approximately 70% in 2023 and the delisting of its stock from NASDAQ after its share price fell below the minimum requirement. In December 2024, the company was acquired by Palvella Therapeutics through a reverse merger.