Corporate Information |
12 Months Ended |
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Dec. 31, 2017 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Corporate Information |
Corporate Information
Pieris Pharmaceuticals, Inc., was founded in May 2013, and acquired all interest in Pieris GmbH (formerly Pieris AG, a German company which was founded in 2001) in December 2014. Pieris Pharmaceuticals, Inc. and its consolidated subsidiaries (collectively “Pieris” or the “Company”) is a clinical-stage biopharmaceutical company that discovers and develops Anticalin based drugs to target validated disease pathways in a unique and transformative way. Pieris' corporate headquarters is located in Boston, MA and its research facility is located in Freising-Weihenstephan, Germany.
The Company’s pipeline includes, among other programs, an immuno-oncology multispecific tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma, and a half-life-optimized Anticalin to treat anemia.
The Company’s core Anticalin technology and platform was developed in Germany, and the Company has partnership arrangements with major multi-national pharmaceutical companies headquartered in the U.S., Europe, Japan, and with regional pharmaceutical companies headquartered in India.
As of December 31, 2017, the Company had cash, cash equivalents and investments of $82.6 million. Including the $47.3 million of net proceeds, after expenses, from the sale of common stock in February 2018, and the $30.0 million upfront fee received in March 2018 in connection with a strategic partnership agreement signed in February 2018 (See Note 13 - Subsequent events), the Company expects that its existing cash, cash equivalents, and investments, are sufficient to support operating expenses and capital expenditure requirements into the middle of 2020.
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