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.