Pieris Receives BMBF Grant to Fund PRS-110 c-Met Antagonist Anticalin Program
Pieris announced 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 personalized medicine approach with PRS-110.
The PRS-110 grant is made possible by the BMBF (Bundesministerium für Bildung und Forschung or German Federal Ministry for Education and Research) Leading Edge Cluster program, which endows grants totaling up to EUR 200 million. The Munich Biotech Cluster, a winner of the BMBF's Cluster Competition in 2010, has brought together a consortium of biomedical companies and academic institutions under the objective: "m4 - Personalized Medicine and Targeted Therapeutics". The grant, managed by BioM, will match Pieris' funding of the PRS-110 project by underwriting the company's internal efforts and collaborative research from additional companies and academic institutions.