Pieris reaches key milestones under the collaboration agreement with Syngenta
Freising-Weihenstephan, Germany (ots)
Pieris AG, a biopharmaceutical and protein engineering company exploiting its proprietary Anticalin(r) technology for the development of superior human biotherapeutic and diagnostics products, today announced that it has successfully reached key milestones within its collaboration project with Syngenta.
After careful evaluation of the identified Anticalins(r) with respect to the specific needs for a highly efficacious therapy as well as commercial factors, both companies came to the conclusion that the Anticalins(r) identified by Pieris clearly fulfil the requirements for preclinical and clinical development within the undisclosed indication.
"The accomplishment of these key milestones under the agreement with Syngenta is another clear proof that our Anticalin(r) technology is delivering engineered protein therapeutics highly suited to be used as biopharmaceuticals," remarked Dr. Andreas Hohlbaum, Director of Science and Preclinical Development at Pieris. "In addition to its business strategy this achievement clearly validates Pieris as a reliable collaboration partner and will serve as a basis for other partnering activities in the near future," said Pieris' Chief Executive Officer Evert Küppers.
Notes to editors:
About Pieris AG
Pieris is a biopharmaceutical company engaged in the discovery and development of Anticalins(r) for the diagnosis and treatment of life-threatening human disorders. Exploiting extensive know-how in protein engineering as part of a broad intellectual property portfolio, the Company applies a balanced risk business model to the development of its Anticalin(r) candidates. Recognizing the enormous market potential of protein-based drugs, Pieris is committed to becoming an integrated drug discovery and development company and expects to file an IND application for its first therapeutic Anticalin(r) at the beginning of 2008. Further information is available at http://www.pieris-ag.com
Anticalin(r), Anticalins(r) are registered trademarks of Pieris Proteolab AG.
About Syngenta
Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2005 were approximately $8.1 billion. Syngenta employs more than 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT).
Further information is available at www.syngenta.com.
This press release may contain projections or estimates relating to plans and objectives regarding our future operations, products, or services, future financial results or assumptions underlying or relating to any such statements. Each of these projections or estimates constitutes a forward-looking statement subject to risks and uncertainties, many of which are beyond our control. Actual results could differ materially depending on a number of factors, including the timing and effects of regulatory actions, the results of clinical trials, the company's relative success in developing and in gaining market acceptance for any new products, and the effectiveness of patent protection.
Contact:
Dr Andreas Hohlbaum, Director of Science & PD,
Phone +49 (0) 8161 1411 400
Pieris AG
Dr Andreas Hohlbaum, Director of Science & PD,
Phone +49 (0) 8161 1411 400