DGAP-News: START OF JAPANESE PHASE I WITH CNS 7056 TRIGGERED FIRST MILESTONE OF ONE MILLION USD FOR PAION FROM ONO PHARMACEUTICAL
(firmenpresse) - PAION AG / Research Update
10.05.2010 13:22
Dissemination of a Corporate News, transmitted by
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START OF JAPANESE PHASE I WITH CNS 7056 TRIGGERED FIRST MILESTONE OF ONE
MILLION USD FOR PAION FROM ONO PHARMACEUTICAL
- Japanese Phase I study started to support induction and maintenance of
anaesthesia
- CNS 7056 administered to first Japanese volunteer in April 2010
Aachen (Germany), 10 May 2010 - The biopharmaceutical company PAION AG
(ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8) today
announces that it will receive the first milestone payment of one million
USD from Partner Ono Pharmaceutical Co., Ltd. ('Ono').
The milestone was triggered by the administration of the
anaesthetic/sedative CNS 7056 to the first volunteer in the first Japanese
Phase I study.
Ono is planning to develop CNS 7056 for the Japanese market initially for
the induction and maintenance of anaesthesia. Ono entered into the licence
agreement, dated 3 August 2007, with PAION UK Ltd. (former CeNeS Limited)
to develop and commercialize CNS 7056 in Japan.
Dr. Wolfgang Söhngen, CEO of PAION commented, 'We are delighted that Ono
has advanced CNS 7056 to Phase I development in the indications of
anaesthesia and ICU sedation; we look forward to the future progress of
this important program. Achieving this milestone with Ono is a strong
indicator of the excellent working relationship that underpins this
collaboration. Furthermore it underscores the potential for this innovative
anaesthetic/sedative.'
###
About CNS 7056
CNS 7056 is an innovative short-acting general anaesthetic/sedative that is
initially being developed by PAION for use in minor medical interventions
(procedural sedation). Sedatives are used, for example, in endoscopic
procedures such as colonoscopies. After intravenous administration CNS 7056
rapidly induces the desired sedation. Importantly, this sedative effect
quickly disappears. This rapid offset of the effect of the substance isdue
to its metabolism by tissue esterase enzymes that are widely distributed
throughout the body. CNS 7056 is being developed as a sedative agent for
day case procedures and for the induction and maintenance of anaesthesia.
It could also be used as a sedative during artificial respiration in
Intensive Care Unit (ICU) settings.
CNS 7056 is licensed to Ono Pharmaceutical (Osaka, Japan) for the Japanese
market. PAION is exploring partnering opportunities for the territories
outside Japan, in order to be able to initiate the development of CNS 7056
in other indications as early as possible.
About PAION
PAION is a biopharmaceutical company headquartered in Aachen, Germany and
with a second site in Cambridge, UK.
The company is focusing on the clinical development of drug candidates for
diseases or interventions for which there is a substantial unmet medical
need. PAION has a 'Search&Develop' business model, which is based on its
core expertise in drug development. Where appropriate, particularly during
the late stages of the clinical development, PAION seeks to collaborate
with experienced partners.
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
number of 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.
10.05.2010 13:22 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: PAION AG
Martinstr. 10-12
52062 Aachen
Deutschland
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, München, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 10.05.2010 - 13:22 Uhr
Sprache: Deutsch
News-ID 20582
Anzahl Zeichen: 0
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Kategorie:
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