Pieris Strengthens its Management, as it Prepares for the Clinical Development of PRS-050, an Anticalin(R)-Based Novel Canc... ( FREISING-WEIHENSTEPHAN Germany No...)

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Pieris Strengthens its Management, as it Prepares for the Clinical Development of PRS-050, an Anticalin(R)-Based Novel Cancer Therapy

Date:11/8/2007

FREISING-WEIHENSTEPHAN, Germany, November 8 /PRNewswire/ -- Pieris AG, a biopharmaceutical company developing Anticalins(R), a novel class of targeted human protein therapeutics, today announced the appointment of Dr Angelika Stern as Chief Operating Officer to the Company. Pieris has also announced the promotion with immediate effect of Dr Andreas Hohlbaum from the position of Director of Science and Preclinical Development to Chief Technology Officer.

The appointment of Dr Angelika Stern at Pieris coincides with continued progress of the Company's Anticalin(R) development programs towards the clinic. PRS-050, Pieris' most advanced program addressing the modulation of VEGF for the treatment of cancer, is currently being prepared for a Phase I study in patients with advanced malignancies. Projected to start in 2009, the study aims to assess the safety, pharmacokinetics and immunogenicity of a half-life extended version of the PRS-050 Anticalin(R), as well as examining its biological activity.

Dr Stern has considerable experience in the clinical development of biologics in the pharmaceutical industry, specifically Phase I - III development and registration of GM-CSF (Leucomax(R)) at Novartis in cooperation with Schering-Plough and subsequently as Medical Director for Neupogen(R) at F. Hoffmann-La Roche. Dr Stern co-founded Hesperion Ltd, a Swiss based international CRO, where she advised emerging biotech companies on development strategy issues.

Commenting on her appointment Dr Stern said: "I am very impressed with Pieris' recent progress and the opportunities in biotherapeutic product development presented by the Anticalin(R) technology. PRS-050 exemplifies the enormous potential Pieris has in building a broad pipeline of therapeutics across multiple disease areas."

Evert Kueppers, Chief Executive Officer of Pieris, commented: "I am delighted to welcome Angelika Stern to our senior management team at this exciting stage in the Company'
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