Pieris Pharmaceuticals Inc (NASDAQ: PIRS) develops PRS-220 to treat IPF (idiopathic pulmonary fibrosis) by targeting CTGF (connective tissue growth factor).
Selected to receive a grant of $ 17 million
Bavarian Ministry of EARDE (Economic Affairs, Regional Development and Energy) would provide a grant of $ 17 million to Pieris to support PRS-220 development to cure PASC (post-acute sequelae of SARS-CoV-2 infection) PASC-PF (pulmonary fibrosis).
Pieris would commence PRS-220 clinical development targeting both these indications in 2022. The company implements its PAP (proprietary Anticalin proteins) for local interventions on validated targets to develop superior medicines. It will follow the same strategy for PRS-220.
CTGF drives fibrotic tissue remodelling as a result of unusual WHP (wound healing process). It is observed in patients with IPF. CTGF inhibition helps to restore lung function in these patients.
The mean time of survival is up to two years
More than three million patients across the world and 130,000 patients in the US alone are suffering from IPF. The patients can survive up to two years from the date of diagnosis. Standard care provides a moderate benefit for these patients.
Persistent symptoms are noticed in around one-third of the patients with a severe covid-19 infection.
Such patients experience pathological changes like reduced DLCO (diffusion capacity of the lung for carbon monoxide) and lung function impairment besides interstitial lung abnormalities that indicate lung tissues impairment. No approved treatments exist in the market to treat patients with PASC-PF. PRS-220 will provide benefit for a subpopulation of these patients.
Pieris would use the grant provided by the Bavarian Ministry of EARDE to evaluate PRS-220 in PASC-PF and other indications. It will also utilize the funds for clinical development of PRS-220 and clinical readiness activities like GMP production, GLP tox studies, and phase 1 clinical development.
PRS-220 already completed the drug nomination stage. It also has several features reflecting best-in-class potential to suit inhaled delivery.
Pieris will read out the clinical data of PRS-220 towards the end of this year. The company would provide further details in PASC-PF and IPF at a later date.
Bavarian Ministry of EARDE, Huber Aiwanger, said the coronavirus pandemic results in several health consequences for a longer duration. The pharmaceutical and biotech companies in Bavaria are at the forefront of developing innovative therapies to neutralize the effect of coronavirus.
