Pieris Pharmaceuticals' Servier collaboration terminated; S095012 Phase 1 halted on safety concern

PALVELLA THERAPEUTICS, INC.

Servier terminated license/collaboration agreement effective Dec 27, 2024, citing a potential safety concern in the S095012 Phase 1 study.
Pieris will discontinue all development of S095012; no further pursuit of the asset.
Non-exclusive Anticalin platform license also terminates with the collaboration agreement.
Pieris remains eligible for milestones from Boston Pharma and Pfizer partnerships on other 4-1BB bispecific assets: up to $200M development and >$415M commercial milestones.

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