Boston-based Pieris adds AstraZeneca as R & D partner in $45M deal

Shares of Pieris Pharmaceuticals soared on Wednesday after the tiny Boston biotech announced yet another collaboration with a big pharma company, this time grabbing $45 million upfront from AstraZeneca to develop inhalable respiratory disease drugs. Under the agreement, Pieris (Nasdaq: PIRS) will get $45 million plus an additional $12.5 million once it begins a Phase 1 trial of its lead drug, a potential asthma treatment called PRS-060. Like others in its pipeline, the drug is an "anticalin" —…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news