Pieris Pharmaceuticals Announces Presentation of Data for

BOSTON, MA --(Marketwired - September 07, 2016) - Pieris Pharmaceuticals, Inc . ( NASDAQ : PIRS ), a clinical-stage biotechnology company advancing novel biotherapeutics through its proprietary Anticalin ^® technology platform for cancer and other diseases, announced today that it will be presenting a poster at the 2016 CRI-CIMT-AACR International Cancer Immunotherapy Conference -Translating Science into Survival, taking place in New York City, September 25-26, 2016.

The poster entitled "Costimulatory T-cell engagement by PRS-343, a CD137 (4-1BB)/HER2 bispecific, leads to tumor growth inhibition and TIL expansion in humanized mouse model," will be presented on September 26, 2016.

Session Title: Poster Session Session Subtitle: New Agents and Their Mode of Action in Animals and Humans Poster Number: B016 Session Date: Monday, September 26, 2016 Presentation Time: 5:15 p.m. to 7:45 p.m. ET Session Location: New York Hilton Midtown - Grand America Hall I

About PRS-343 PRS-343 is a bispecific monoclonal antibody/Anticalin fusion protein comprised of a HER2 tumor-targeting mAb genetically linked to a potent anticalin specific for the immune costimulatory TNF family receptor 4-1BB (CD137). PRS-343 is being developed as the first 4-1BB based therapeutic to mediate the activation of tumor-specific T lymphocytes selectively within the Tumor Micro-Environment (TME). 4-1BB is an established marker for tumor-specific infiltrating T lymphocytes (TILs) and is, therefore, an attractive target for cancer immunotherapy. In in vivo preclinical tumor models, PRS-343 has demonstrated potent T lymphocyte activation localized to the TME of established HER2-positive tumors, indicating the potential for both enhanced safety and efficacy.

About Pieris Pieris Pharmaceuticals is a clinical-stage biotechnology company that discovers and develops Anticalin protein-based drugs to target validated disease pathways in a unique and transformative way. Our pipeline includes immuno-oncology multi-specifics tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma and a half-life-optimized Anticalin to treat anemia. Proprietary to Pieris, Anticalins are a novel class of protein therapeutics validated in the clinic and by partnerships with leading pharmaceutical companies. Anticalin ^® , Anticalins ^® are registered trademarks of Pieris. For more information visit www.pieris.com .

Forward Looking Statements This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, references to novel technologies and methods; projected timing and outcomes of clinical trials or preclinical studies; or market information. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, our ability to raise the additional funding we will need to continue to pursue our business and product development plans; the inherent uncertainties associated with developing new products or technologies and operating as a development stage company; our ability to develop, complete clinical trials for, obtain approvals for and commercialize any of our product candidates; competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents we file with the SEC available at www.sec.gov , including without limitation the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and the Company's Quarterly Reports on Form 10-Q.