Palvella Therapeutics and Pieris Pharmaceuticals Announce Definitive Merger Agreement, Concurrent $78.9 Million Private Financing

San Francisco – July 24, 2024 – Cooley advised TD Cowen and Cantor, the placement agents on Palvella Therapeutics’ definitive merger agreement with Pieris Pharmaceuticals and concurrent oversubscribed $78.9 million private financing. BVF Partners, an existing investor, and Frazier Life Sciences, a new investor, co-led the private financing. Palvella and Pieris expect the proposed merger and concurrent private financing to close in the fourth quarter of 2024, subject to stockholder approval of both companies, the effectiveness of a registration statement to be filed with the US Securities and Exchange Commission to register the shares of Pieris common stock to be issued in connection with the merger, and the satisfaction of customary closing conditions.

Partners Denny Won and Kristin VanderPas led the Cooley team advising the placement agents.

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