DGAP-News: PAION SIGNED EXCLUSIVE OPTION AGREEMENT WITH YICHANG FOR REMIMAZOLAM IN CHINA
(firmenpresse) - DGAP-News: PAION AG / Key word(s): Alliance
PAION SIGNED EXCLUSIVE OPTION AGREEMENT WITH YICHANG FOR REMIMAZOLAM
IN CHINA
22.03.2012 / 10:30
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PAION SIGNED EXCLUSIVE OPTION AGREEMENT WITH YICHANG FOR REMIMAZOLAM IN
CHINA
- Upfront payments in the total amount of EUR 3 million subject to
signing of the final licensing agreement
Aachen (Germany), 22 March 2012 - PAION AG (ISIN DE000A0B65S3; Frankfurt
Stock Exchange Prime Standard: PA8) and Yichang Humanwell Pharmaceutical
Co. Ltd, China, today announced that they have entered into an exclusive
license option agreement for Remimazolam which gives Yichang exclusivity to
negotiate with PAION a licence for the development, manufacture and
commercialization in the territory of People's Republic of China for an
undisclosed option fee.
Within this agreement, PAION will be eligible to receive upfront payments
of EUR 3 million and additional payments, if both parties successfully
execute a final licensing agreement within a certain exclusivity period.
###
About PAION
PAION is headquartered in Aachen, Germany and has a second site in
Cambridge, UK. The company is specialised in developing innovative drugs
for the hospital-based treatment in indications for which there is a
substantial unmet medical need. PAION is extending its 'Search&Develop'
business model, by transforming into a 'Specialty Pharma Company', with a
focus on anaesthesia products.
About YICHANG
Yichang Humanwell Pharmaceutical Co. is part of Wuhan Humanwell healthcare
(Group) Co., Ltd an industrial group giving priority to the medical health
business, specializes in the development, production, distribution and
technical support of pharmaceutical, medical instruments and reproductive
healthcare products and technologies. Yichang Humanwell is the largest
company to develop and produce narcotic products in China.
About Remimazolam
Remimazolam is an innovative short-acting general anaesthetic/sedative.
Sedatives are used, for example, in endoscopic procedures such as
colonoscopies. After intravenous administration Remimazolam rapidly induces
the desired sedation. Importantly, this sedative effect quickly disappears.
This rapid offset of the effect of the substance is due to its metabolism
by tissue esterase enzymes that are widely distributed throughout the body.
Remimazolam is being developed as a sedative agent for day case procedures
(procedural sedation) as well as for the induction and maintenance of
anaesthesia. It could also be used as a sedative for patients in the
Intensive Care Unit (ICU).
Apart from China PAION is currently exploring cooperation opportunities for
the territories outside Japan, where the compound is partnered with Ono
Pharmaceuticals. Cooperations are vital for Paion in order to be able to
progress the further development of Remimazolam as soon as possible.
Contact
Ralf Penner
Director Investor Relations / Public Relations
PAION AG
Martinstrasse 10-12
52062 Aachen - Germany
Phone: +49 241 4453-152
E-mail: r.penner(at)paion.com
www.paion.com
Disclaimer:
This release contains certain forward-looking statements concerning the
future business of PAION AG. These forward-looking statements contained
herein are based on the current expectations, estimates and projections of
PAION AG's management as of the date of this release. They are subject to a
numberof assumptions and involve known and unknown risks, uncertainties
and other factors. Should actual conditions differ from the Company's
assumptions, actual results and actions may differ materially from any
future results and developments expressed or implied by such
forward-looking statements. Considering the risks, uncertainties and other
factors involved, recipients should not rely unreasonably upon these
forward-looking statements. PAION AG has no obligation to periodically
update any such forward-looking statements to reflect future events or
developments.
End of Corporate News
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22.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: PAION AG
Martinstr. 10-12
52062 Aachen
Germany
Phone: +49 (0)241-4453-0
Fax: +49 (0)241-4453-100
E-mail: info(at)paion.com
Internet: www.paion.com
ISIN: DE000A0B65S3
WKN: A0B65S
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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161566 22.03.2012
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Datum: 22.03.2012 - 10:30 Uhr
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News-ID 127367
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