Pieris Appoints a New CEO

Appointment Will Bring Substantial Deal-Making Expertise to the Company

FREISING-WEIHENSTEPHAN, Germany, January 4 - Pieris AG today announced the appointment of Stephen S. Yoder as CEO with
immediate effect. Mr. Yoder takes over the position from interim CEO and
co-founder Claus Schalper, who will remain CFO. Mr. Yoder joins Pieris from
MorphoSys AG, where he was General Counsel and Head of Licensing & IP,
responsible for company-wide legal & IP, as well as several areas in business
development.

"We are delighted to have Steve on board to help drive the value of
Pieris' proprietary Anticalin technology", commented Dr. Hans A. Kuepper,
chairman of Pieris' Supervisory Board. "The company is truly moving into a
new phase, where the first products are entering the clinic and the Anticalin
technology platform is reliably delivering multiple drug candidates against
many novel targets. Steve's strategic vision and excellent track record will
be important assets in building significant value for Pieris. We look forward
to his leadership in ushering in an era of innovation and deal making at the
company."

Mr. Yoder holds a BS in Molecular Biology, and a Juris Doctorate from The
George Washington University Law School. He is an Attorney at Law and a
Registered US Patent Attorney with substantial deal-making experience. While
at MorphoSys, he closed scores of collaborations with several of the largest
pharmaceutical companies world-wide, including the company's transforming
deal with Novartis in 2007 and the recent formation of a new alliance with
Daiichi-Sankyo.

"It is a pleasure to join an organization that combines world class
investors, a unique technology with huge commercial potential and colleagues
who are committed to constant innovation to deliver what our partners need
most", Mr. Yoder stated. "With our recent collaboration with Allergan
focusing on ocular disorders and our Phase I study for PRS-050, our
proprietary anti-VEGF Anticalin program, scheduled to commence in the first
half of 2010, Pieris is proving the broad applicability of its technology. I
am looking forward to leading the charge in our efforts to further
commercialize our Anticalin platform and preclinical portfolio of proprietary
Anticalin drugs."

About Pieris AG

Pieris is an independent biotechnology company devoted to Anticalins(R),
a novel class of specific binding proteins that addresses an expansive range
of therapeutic purposes and targets. Exploiting extensive know-how in protein
engineering as part of a broad intellectual property portfolio, the company
is committed to advancing a therapeutic pipeline of proprietary and partnered
Anticalins, where the unique features of the Anticalin class promise to
deliver safe, convenient and innovative drugs. Anticalins are exclusively
sourced from Pieris' highly diverse and resilient Anticalin libraries, which
ensure a continuous supply of Anticalins against a wide spectrum of targets.

Pieris exclusively owns the cornerstone Anticalin patent estate. In
addition, the unique structure of the Anticalin molecule generally offers
complete freedom to operate outside the patent boundaries defined by
conventional biological drugs such as antibodies.

Pieris most recently signed a partnership with Allergan, Inc. (NYSE:
AGN), to develop therapeutics against diseases of the eye. Pieris has closed
Series A and B rounds of venture-backed financing, led by Global Life Science
Ventures and OrbiMed Advisors LLC, respectively.

About Anticalins

Anticalins are a recombinant, engineered format of lipocalins, which are
endogenous human binding and transport proteins. Being human in origin,
Anticalins are predicted to have a favorable safety and tolerability profile
in man, supported by toxicity studies from Pieris' growing therapeutic
pipeline and the advance of Pieris' lead proprietary therapeutic program,
PRS-050 (an anti-VEGF Anticalin), into Phase I clinical studies in H1 2010.

Furthermore, Anticalins benefit from several properties that make them
attractive therapeutic candidates, including specificity against small
targets; robust physicochemical properties that enable formulations not
possible using larger molecules; and a simple, low-weight yet utilitarian
structure allowing seamless manufacturing in bacteria from discovery to
market.

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

    For further information, please contact:
    Pieris AG
    Stephen Yoder, CEO
    Phone +49(0)8161-1411-400
    Email: yoder@pieris-ag.com

For further information, please contact: Pieris AG, Stephen Yoder, CEO, Phone +49(0)8161-1411-400, Email: yoder at pieris-ag.com