Pieris AG Appoints Chief Scientific Officer

FREISING-WEIHENSTEPHAN, Germany, June 7, 2010 - Pieris AG announced today that Laurent Audoly, Ph.D., has joined the
company as Chief Scientific Officer, effective immediately. Dr. Audoly, most
recently Biologics Research Site Lead at Merck & Co. Inc., brings both pharma
and biotech experience, with extensive expertise in therapeutic protein drug
development.

"Laurent has an impressive track record of leading teams and moving
discovery programs successfully from target identification into and through
the clinic. In particular, his pharmacology expertise and drug development
skills are the precise ingredients we need to maximize the value of our
growing therapeutic pipeline," commented Stephen Yoder, CEO of Pieris. "As
the company builds and expands its internal and partnered Anticalin pipeline,
Laurent's contribution will be significant."

"As a keen proponent of targeted therapeutic technologies, I am excited
to join Pieris at a stage where the Anticalin approach is beginning to
demonstrate its great therapeutic potential," added Dr. Audoly. "My goal is
to combine my experience from big pharma and biotech with the capabilities
present at Pieris to bring the full spectrum of R&D operations to the next
level."

Over the course of his career, Dr. Audoly has held research and
managerial positions of increasing responsibility, first as Senior Research
Scientist, Department of Inflammation, at Pfizer Inc. and then as Senior
Research Fellow, Department of Pharmacology, at Merck & Co. Inc. He then
joined MedImmune Inc. as Director R&D Inflammation and most recently held the
position at Merck and Co. Inc. as Biologics Research Site Lead. He holds a
degree in Chemistry from the University of South Florida and a Ph.D. in
Pharmacology from Vanderbilt University. Following his studies, he completed
post-doctoral research at Duke University and the University of North
Carolina.

About Pieris

Pieris AG is an independent biotechnology company advancing its
proprietary Anticalin(R) technology to create safer, more efficacious and
more convenient protein therapeutics. Exclusive to Pieris, Anticalin-based
drugs promise to address high-unmet medical needs and expand the therapeutic
potential of current targeted approaches. Pieris' pipeline ranges from its
lead program (anti-VEGF, oncology), which will enter the clinic in the first
half of 2010, to multiple Anticalins in preclinical development. Pieris will
commercialize Anticalin therapeutics through strategic partnerships,
involving both its proprietary pipeline and its de novo drug discovery
capabilities. Its most recent partnership is with Allergan, Inc. (NYSE: AGN),
focusing on novel treatments for eye diseases. Privately held, Pieris has
been funded by premier biotechnology-focused venture capital, including lead
investors OrbiMed Advisors and Global Life Science Ventures.

For more information, please contact: Pieris AG, Stephen Yoder, CEO, or
Dr. Laurent Audoly, CSO, +49(0)8161-1411-400, info@pieris-ag.com

For more information, please contact: Pieris AG, Stephen Yoder, CEO, or Dr. Laurent Audoly, CSO, +49(0)8161-1411-400, info at pieris-ag.com