Pieris Outlines Strategic Impact of Six Million Euro EUROCALIN Grant Award on Anticalin(R) Pipeline Development

Freising (ots) - In concert with the award of the EU FP7 Grant to
the Pieris-led EUROCALIN Consortium that will enable initial clinical
development of Pieris' proprietary hepcidin antagonist program, the
company announced today the positive strategic impact of the grant
funding on its proprietary Anticalin pipeline. Currently, the
company's most advanced compound has completed a Phase I clinical
trial, another proprietary compound is slated to reach the clinic in
2013 and up to two further compounds are expected to reach that
milestone by the end of 2014.

"With the FP7 grant, which will underwrite the accelerated
progression of PRS-080 into the clinic, we are in the position to
focus additional resources toward achieving important milestones for
our other preclinical programs without requiring dilutive funding,"
said Stephen Yoder, Chief Executive Officer of Pieris. "Each program
presents a first-in-class or best-in-class therapeutic opportunity,
and we look forward to announcing key advances for these assets in
the next six months."

An overview of recent achievements and upcoming events for Pieris'
pipeline:

- PRS-050, an anti-VEGF Anticalin, has completed a Phase I
clinical trial, the results of which will be presented in
November at the AACR-NCI-EORTC Molecular Targets and Cancer
Therapeutics conference in San Francisco, California.

- PRS-080 is in formal preclinical development and currently
undergoing process optimization for GMP manufacturing. Recent data
for the PRS-080 program will be announced in a podium presentation at
the December American Society of Hematology (ASH) meeting in San
Diego, California.

- PRS-110 antagonizes cMet, a cellular receptor that plays an
important role in cancer cell growth and metastasis, and has
completed in vivo proof of concept in a broad range of tumor models.
The compound's monovalent binding mechanism promises meaningful
differentiation over monoclonal antibody approaches by ensuring a
purely antagonist result.

- PRS-060, an Anticalin targeting IL4Ra for the treatment of
asthma, has achieved in vivo proof of concept. This molecule has the
necessary properties to be delivered locally to the lungs, thereby
maximizing neutralization of IL-4 and IL-13, which play a central
role in moderate to severe asthma. Local administration of a targeted
protein therapeutic will support improved efficacy, safety and
convenience for chronic asthma patients.

- PRS-190 is a single-gene bispecific Anticalin, or Duocalin(R),
and is designed to specifically bind two clinically validated
targets in the autoimmune space. This approach creates a synergistic
therapeutic effect while enabling a more efficient development
pathway than that for a drug cocktail approach.

Anticalins are therapeutic proteins derived from human lipocalins,
rationally engineered to solve for the pharmacological and
pharmaceutical limitations of both protein and non-protein based drug
platforms.

About Pieris

Pieris AG is an independent, clinical-staged biotechnology company
advancing its proprietary Anticalin( technology to create safer, more
efficacious and more convenient protein therapeutics. Exclusive to
Pieris, Anticalin-based drugs promise to address high- unmet medical
needs and expand the therapeutic potential of current targeted
approaches. Pieris' pipeline ranges from its Phase I compound,
PRS-050 (anti-VEGF, oncology), to multiple Anticalins in preclinical
development. The company has four ongoing discovery and development
collaborations: Daiichi Sankyo, Takeda San Francisco, the Sanofi
Group and Allergan. Privately held, Pieris has been funded by
premier biotechnology-focused venture capital, including lead
investors OrbiMed Advisors and Global Life Science Ventures. For more
information, please visit: www.pieris-ag.com .

For more information, please contact:
Stephen Yoder
Chief Executive Officer
Tel: +49 (0) 8161-1411-400

or

Gretchen Schweitzer
Tel: +49 172 861 8540
Media@pieris-ag.com