Pieris Pharmaceuticals ^{Priced, Nasdaq: PIRS}

We are a clinical-stage biopharmaceutical company dedicated to the discovery and development of our Anticalin class of biotherapeutics for patients with diseases in which we believe there is high unmet medical need. Our current development plans focus mainly on our Anticalin drug candidates PRS-080, PRS-060, as well as our 300-Series “platform within a product” opportunity in immuno-oncology, as discussed in more detail below. Anticalin proteins are a class of low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins typically found in blood plasma and other bodily fluids. PRS-080 is a PEGylated Anticalin protein that binds to hepcidin, a natural regulator of iron in the blood. PRS-080 has been designed to target hepcidin for the treatment of functional iron deficiency, or FID, in anemic patients with chronic kidney disease, or CKD, particularly in end-stage renal disease patients requiring dialysis. PRS-060 is a drug candidate that binds to the IL-4RA receptor, thereby inhibiting IL-4 and IL-13, two cytokines, small proteins mediating signaling between cells within the human body, known to be key mediators in the inflammatory cascade that causes asthma and other inflammatory diseases. We completed dosing of healthy volunteers in a Phase I clinical trial with PRS-080 in June 2015, and we expect to report the data from this trial in the second half of 2015. In the trial, no dose-limiting toxicities were observed and a maximum tolerated dose was not reached. PRS-060 is currently in preclinical development, and we intend to begin a Phase I clinical trial with PRS-060 in the first quarter of 2017.