Pieris Pharmaceuticals has acquired a worldwide license from Enumeral Biomedical Holdings for non-exclusive patent rights and know-how to research, develop, and market fusion proteins consisting of PD-1 antibodies linked to one or more Anticalin proteins for use in oncology.

Pieris also said in a regulatory filing that it won a commitment from Enumeral not to practice or assist third parties in the agreement’s exclusive field, namely the licensed antibodies fused to Anticalin proteins in oncology.

Accordiong to Pieris, Anticalin-branded proteins are engineered lipocalins, endogenous low-molecular weight human proteins typically found in blood plasma and other body fluids that naturally bind, store, and transport a wide spectrum of molecules.

Under the companies’ license and transfer agreement, Pieris agreed to pay Enumeral an immediate $250,000 upfront license fee, to be followed on May 31 by a $750,000 maintenance fee.

Pieris also agreed to pay to Enumeral development milestones of up to $37.8 million for all products and indications; plus sales milestones of up to $67.5 million for all products and indications.

Pieris will also pay Enumeral royalties in the low to lower-middle single digits as a percentage of net sales, depending on the amount of net sales in the applicable years.

Should Pieris be required to pay a license fee or royalty to any third party related to the licensed products, the companies agreed, the royalty payment due to Enumeral shall be reduced by the amount of such third party fees or payments, up to 50% of the royalty payment for each calendar year that is due to Enumeral.

In return for the payments, Pieris has an option for 12 months after the date the agreement takes effect to license from Enumeral one of a set of antibodies owned by Enumeral for use in developing such fusion Anticalin proteins for use in oncology.

If Pieris exercises that option, it agrees to pay Enumeral an additional undisclosed upfront payment. Any resulting fusion protein products would be subject to additional royalties and development and sales milestones in the same amounts applicable to the fusion proteins linking PD-1 and Anticalins under the initial license.

The agreement ends upon the expiration of the last-to-expire patent covered under the license, Pieris said.








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