PIRS - Pieris Boston ink license agreement for immuno-oncology candidate

Pieris Pharmaceuticals (PIRS) and Boston Pharmaceuticals have brokered a licensing agreement for the development of PRS-342, a 4-1BB/GPC3 preclinical immuno-oncology bispecific fusion protein.Under the terms of the deal, Pieris will receive an upfront payment of $10M and up to $353M in milestone payments.Pieris says that PRS-342 may be effective against hepatocellular carcinoma, Merkel cell carcinoma, and melanoma.Pieris shares are up 3.5% to $2.36 in premarket trading.

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Pieris, Boston ink license agreement for immuno-oncology candidate