DGAP-News: PAION RECEIVED MILESTONE PAYMENT OF USD 3 MILLION FROM ONO PHARMACEUTICAL DUE TO ENROLMENT OF FIRST PATIENT INTO THE PHASE II/III STUDY WITH REMIMAZOLAM IN JAPAN
(firmenpresse) - DGAP-News: PAION AG / Key word(s): Research Update
PAION RECEIVED MILESTONE PAYMENT OF USD 3 MILLION FROM ONO
PHARMACEUTICAL DUE TO ENROLMENT OF FIRST PATIENT INTO THE PHASE II/III
STUDY WITH REMIMAZOLAM IN JAPAN
18.12.2012 / 07:30
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PAION RECEIVED MILESTONE PAYMENT OF USD 3 MILLION FROM ONO PHARMACEUTICAL
DUE TO ENROLMENT OF FIRST PATIENT INTO THE PHASE II/III STUDY WITH
REMIMAZOLAM IN JAPAN
- Enrolment of a first patient on 13 November 2012 in the Phase II/III
study with Remimazolam in general anaesthesia in Japan triggering
milestone payment of USD 3 million from Ono Pharmaceutical
Aachen (Germany), 18 December 2012 - The biopharmaceutical company PAION AG
(ISIN DE000A0B65S3; Frankfurt Stock Exchange, General Standard: PA8) today
announces that partner Ono Pharmaceutical Co., Ltd. ('Ono') has paid USD 3
million (EUR 2.3 million) after enrolment of the first patient into the
initiated Phase II/III study with Remimazolam in Japan which was announced
on 5th November 2012.
The objective of this study is to investigate efficacy and safety of
Remimazolam in induction and maintenance of general anaesthesia in a
multicenter randomized parallel-group study compared to propofol in surgery
patients requiring general anaesthesia.
ONO entered into the license agreement with PAION UK Ltd. (former CeNeS
Limited) in 2007 to develop and commercialize Remimazolam in Japan and is
developing the substance for the Japanese market for both 'induction and
maintenance of anaesthesia' and 'ICU sedation'.
'I am delighted that the development program of Remimazolam in Japan is
progressing extremely well and ahead of schedule', commented Dr. Wolfgang
Söhngen, CEO of PAION. 'We are currently evaluating which anaesthesia
studies would be required in addition to the existing Japanese Remimazolam
data package in order to meet European requirements.'
###
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 has extended its 'Search&Develop'
business model, by transforming into a 'Specialty Pharma Company', with a
focus on anaesthesia products.
About Remimazolam
Remimazolam is an innovative short-acting general anaesthetic/sedative. Due
to their short duration of action and good controllability such substances
have increased the benefits for patients and the efficacy of the treatment.
The 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 has potential in three indications:
- Procedural sedation (e.g. colonoscopies, Phase IIb completed)
- General anaesthesia (Phase II/III started)
- ICU sedation (Phase II initiated)
Remimazolam is available for licensing outside Japan and China, where the
compound is partnered with Ono Pharmaceutical and Yichang Humanwell.
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
http://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.
End of Corporate News
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18.12.2012 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 (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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197188 18.12.2012
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