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Pieris Raises EUR 25 M (US$ 38 M) in Series B Financing Round
Date:3/27/2008

r. Optimised for extended serum half-life, PRS-050 exhibits comparable binding and functional in vitro activity to approved VEGF antagonists. Potent inhibition of VEGF-induced enhanced vascular permeability and angiogenesis, as well as anti-tumour activity, have already been demonstrated for PRS-050 in various well-validated in vivo preclinical studies.

As a next generation VEGF antagonist, PRS-050 exploits several favourable characteristics of Anticalins(R), including compact protein structure, high intrinsic stability, broad formulation flexibility and small molecular size with the potential to penetrate neovascularized tumour tissue more effectively. PRS-050 is currently being prepared for a Phase I study in patients with advanced malignancies.

Further information on Pieris AG is available at http://www.pieris-ag.com

Anticalin(R) and Duocalin(R) are registered trademarks of Pieris AG.

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OrbiMed is a preeminent asset management firm focused on the global health sciences industry, with over $6 billion in assets under management across a family of venture capital funds, hedge funds and other investment vehicles. OrbiMed's investment advisory activities were founded in 1989 by Samuel D. Isaly, with a vision to invest across the spectrum of healthcare companies from small privately-held firms to large multinational companies.

OrbiMed's investment team includes over 20 experienced professionals with backgrounds in science, medicine, finance and law. OrbiMed's professionals work together in a collaborative, team-oriented approach. OrbiMed seeks to be the capital provider of choice for life sciences companies pursuing growth and new opportunities. Where appropriate, particularly within its venture capital activities, OrbiMed supports its invested companies in achieving strategic, financial and operational objectives via participation at the Board of Di
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