AstraZeneca (AZ) has agreed to collaborate with Pieris Pharmaceuticals to develop a preclinical-stage inhaled therapeutic, PRS-060, for the treatment of asthma, as well as four other proteins for respiratory disease. AZ has committed US$45 M in upfront payment and up to US$2.1 B in milestone and commercial payments to Pieris. Pieris’ Anticalin® technology has been the subject of a number of collaborations in recent years, including Servier and Roche.