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AstraZeneca boosts early respiratory medicine with Pieris deal
May 3, 2017 / 7:42 AM / in 6 months

AstraZeneca boosts early respiratory medicine with Pieris deal

LONDON (Reuters) - AstraZeneca boosted its early-stage respiratory medicine pipeline on Wednesday by signing a deal with Pieris Pharmaceuticals to develop novel inhaled drugs that could fight asthma in new ways.

A sign is seen at an AstraZeneca site in Macclesfield, central England May 19, 2014. REUTERS/Phil Noble/File Photo

Pieris will get upfront and near-term milestone payments of $57.5 million and up to $2.1 billion if the experimental drugs go on to become commercially successful.

Pieris will be responsible for advancing its preclinical lead candidate, PRS-060, into initial Phase I clinical trials in 2017, the two companies said.

Reporting by Ben Hirschler

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