10 Feb. 2012 posted by EuroBioForum
Pieris AG announced today the receipt of a EUR 1 million grant to support the development of the company’s proprietary PRS-110 compound targeting c-Met, a cellular receptor that plays a key role in cancer cell growth and metastasis. The goal of the funded research will be to delineate a biomarker strategy for early clinical development and to aid in the progression of a personalised medicine approach with PRS-110.
"This grant represents a validation of PRS-110’s potential as a powerful targeted cancer therapeutic and recognises the progress we have achieved in moving the programme closer to the clinic," stated Stephen Yoder, Chief Executive Officer of Pieris. "We believe we have developed a ‘best in class’ drug candidate that rivals other advanced targeted therapies addressing the c-Met pathway based on PRS-110’s monovalent mode of target engagement and positive developability profile."
Mr Yoder added that Pieris has been invited to present preclinical results for PRS-110 at the upcoming American Association for Cancer Research (AACR) Annual Meeting being held 31 March to 4 April 2012.