Gowling WLG advises AstraZeneca on transaction for respiratory treatments

Gowling WLG's Life Sciences team has assisted global pharmaceutical company, AstraZeneca on its collaboration with Pieris Pharmaceuticals.

The partnership will accelerate the development and commercialisation of a new Anticalin-based inhaled treatment for respiratory diseases. The deal relates to novel inhaled drugs that leverage Pieris' Anticalin^® platform, including its lead preclinical drug candidate, PRS-060.

Partner Patrick Duxbury and senior associate Nick Smee worked with AstraZeneca senior counsel, Ulrika Lilja Stevall on the transaction.

Patrick said: "This is a key strategic collaboration, not only for both companies, but for the development of an innovative treatment for respiratory diseases. It has been a pleasure being a part of such a significant arrangement for AstraZeneca that will hopefully lead to significant benefits for patients."

Under the terms of the agreement, Pieris will receive upfront and near-term milestone payments and will have the potential to receive development-dependent milestones and eventual commercial payments for all products as well as tiered royalties. For programs co-developed by Pieris, the Company will be entitled to receive increased royalties or a gross margin share on worldwide sales, dependent on the level of investment to which Pieris commits.