DGAP-News: PAION AG GRANTS LICENSE TO R-PHARM FOR REMIMAZOLAM
(firmenpresse) - DGAP-News: PAION AG / Key word(s): Contract
PAION AG GRANTS LICENSE TO R-PHARM FOR REMIMAZOLAM
30.10.2013 / 12:46
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PAION AG GRANTS LICENSE TO R-PHARM FOR REMIMAZOLAM
- PAION will receive EUR 1 million upfront payment
- EUR 3.0 million regulatory and commercial milestone payments
- Exclusive license grant to R-Pharm in Russia and CIS
- Low double digit royalties
- Limited clinical bridging work in Russia needed
- Expected launch of Remimazolam in Russia 2016
Aachen (Germany), 30. October 2013 - PAION AG (ISIN DE000A0B65S3; Frankfurt
Stock Exchange General Standard: PA8) and R-Pharm, Russia, today announced
that they have entered into a license agreement for Remimazolam which gives
R-Pharm an exclusive licence for the development, manufacture and
commercialization in the territory of Russia and CIS.
PAION will receive an upfront payment in the amount of EUR 1 million,
potential milestone payments of up to EUR 3 million and low double digit
royalties on net sales in the Territory.
R-Pharm will manage the development and marketing approval process in the
Territory. R-Pharm intends to market Remimazolam in all indications with
the lead indication anaesthesia and plans to start a bridging study in
anaesthesia as soon as possible with an expected launch of Remimazolam in
2016.
Dr. Wolfgang Söhngen, Chief Executive Officer of PAION AG, stated: 'With
R-Pharm we have found a partner with a strong track record in the hospital
market. We are convinced that a strong national partner with state of the
art production facilities brings us the best return for Remimazolam in
Russia.'
'The partnership between our companies is a good example of bringing
innovative methods of treatment to Russian and CIS patients. We believe
that Remimazolam has the potential to become an effective and safe solution
for anaesthesia needs', said Vasily G. Ignatiev, CEO of R-Pharm.
About Remimazolam
Remimazolam is an innovative short-acting general anaesthetic/sedative. Due
to its short duration of action and good controllability, it has a
preferable efficacy and safety profile relative to other currently marketed
anaesthesia compounds. The rapid offset of Remimazolam's effect is due to
its metabolism by tissue esterase enzymes that are widely distributed
throughout the body.
Remimazolam has potential in three indications:
- Procedural sedation
- General anaesthesia
- ICU sedation
Remimazolam is available for licensing outside Japan, China, Russia (CIS)
and South Korea, where the compound is partnered with Ono Pharmaceutical,
Yichang Humanwell, R-Pharm and Hana Pharm.
###
About PAION
PAION AG is a publicly-listed biotech company headquartered in Aachen,
Germany with a second site in Cambridge, UK. The company has a track record
in developing hospital-based treatments for which there is substantial
unmet medical need. PAION AG is transforming its business model from a pure
development company to a specialty pharmaceutical company with a focus on
anaesthesia products to take advantage of the unique profile of its main
compound, Remimazolam.
About R-Pharm
R-Pharm is a Russian private pharmaceutical company with focus on hospital/
specialty care, founded in 2001. Turnover in 2012 was over 1.8 bn USD.
R-Pharm has over 2800 employees and covers the entire territory of Russia
and CIS. The company is involved in research anddevelopment,
manufacturing, marketing, sales and distribution of innovative
pharmaceutical and biotech products.
http://r-pharm.com/en/
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
Eugenia Kasyanenko
PR-manager
R-Pharm
10, Testovskaya st., 123317, Moscow
Russian Federation
Phone: +7 (495) 956 79 37
E-Mail: kasyanenko(at)rpharm.ru
http://r-pharm.com/en/
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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30.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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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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236552 30.10.2013
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