Pieris Announces Preclinical In Vitro and In Vivo Data for its Anticalin(r) PRS-080 Hepcidin Antagonist Drug Program

FREISING, Germany, May 23, 2011 -

- Data to be Presented at BioIron Society Meeting in Vancouver

Pieris AG announced today preclinical in vitro and in vivo data for its
PRS-080 Anticalin antagonist program targeting hepcidin, a small peptide
which plays a pivotal role in the regulation of iron levels in the blood.
PRS-080 showcases Anticalins' ability to encapsulate small targets like
hepcidin with high specificity and potency. The results of Pieris' PRS-080
studies are being presented at the International BioIron Society Meeting
being held May 22-26 in Vancouver, Canada in an oral presentation entitled
"Exploiting lipocalin biochemistry for the treatment of anemia: discovery and
characterization of an anti-hepcidin therapeutic".

"This program is extremely exciting because of the numerous lines of
scientific evidence strongly suggesting the benefits of antagonizing
hepcidin, a molecule that is aptly suited for targeting by Anticalins, for
treating multiple forms of anemia," stated Laurent Audoly, Ph.D., Chief
Scientific Officer of Pieris. "Because of the diverse clinical profiles of
our target populations, we are also capitalizing on our ability to develop
Anticalins with a range of half-life values in order to maximize the
therapeutic index in any one disorder."

Pieris researchers documented that PRS-080 displayed sub-nanomolar
potency, which translated into robust cell-based and in vivo efficacy. In a
preclinical model of efficacy, PRS-080 administration showed complete
inhibition of hepcidin-induced hypoferremia in a dose-dependent manner. The
researchers also demonstrated a favorable half-life for the compound through
further preclinical studies.

"Our hepcidin antagonist program highlights Pieris' strategy of pursuing
therapeutic programs with meaningful, clinically relevant differentiation
over conventional molecules. Armed with these data and a healthy balance
sheet, Pieris is committed to advancing PRS-080 as rapidly as possible toward
the clinic," Stephen Yoder, Chief Executive Officer of Pieris, said. "We are
aiming to achieve first-in-man readiness no later than the beginning of 2013,
which girds this program with first-in-class potential."

Hepcidin is a liver-derived peptide that regulates iron homeostasis in
the blood. Produced in response to iron overload and inflammation, hepcidin
decreases iron absorption. When over-expressed, the peptide is associated
with the development of anemia, often the result of chronic kidney disease,
cancer, cancer treatments such as chemotherapy and other inflammatory
diseases.

Pieris' proprietary Anticalin technology platform creates next generation
targeted therapeutics and addresses targets in ways that traditional methods
cannot. To obtain a specific Anticalin, Pieris applies its deep protein
engineering know-how to select drug candidates from its suite of rationally
designed proprietary Anticalin libraries.

About Pieris

Pieris AG is an independent, clinical-staged 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 Phase I compound, PRS-050 (anti-VEGF, oncology), to multiple
Anticalins in preclinical development. The company has four ongoing discovery
and development collaborations: Daiichi Sankyo, Takeda San Francisco, the
Sanofi Group and Allergan. 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
visit: www.pieris-ag.com.

    For more information, please contact:
    Stephen Yoder
    Chief Executive Officer
    Tel: +49(0)8161-1411-400 or
    Gretchen Schweitzer
    Tel: +49-172-861-8540
    glps@gmx.net

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