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Paion AG. (8/8/12). "Press Release: Paion Realizes First Step of Strategic Realignment. Purchase of Remifentanil Distribution Rights for Germany". Aachen.

Region Region Germany
Organisations Organisation Paion AG
  Group Paion (Group)
  Organisation 2 Ono Pharmaceutical Co., Ltd. (TSE: 4528)
  Group Ono Pharmaceutical (Group)
Products Product Remifentanil (INN)
  Product 2 remimazolam (CNS 7056)
Persons Person Söhngen, Wolfgang (Paion 200603 CEO)
  Person 2 Penner, Ralf (Paion 201011 Director Investor/Public Relations)
     


- Purchase of Remifentanil dossier marks an important step in building an anaesthesia portfolio and integrate forward

- Build up a lean sales organization specializing in anaesthesia products in H2 2012


PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange General Standard: PA8) today announced that it has purchased Remifentanil distribution rights for the German market. In addition, PAION has acquired all necessary rights to obtain distribution rights for this dossier in other selected countries in the European Union. At the same time a corresponding supply contract with the seller of the dossier has been agreed. The initial transaction volume is approximately 100,000 EUR. First revenues from 'Remifentanil - PAION' are expected for 2013.

Remifentanil is an ultra short-acting, highly potent opioid which is particular applicable in anaesthesia and its main use is in TIVA (Total Intra Venous Anaesthesia). Due to its excellent controllability and tolerability Remifentanil is frequently used in outpatient anaesthesia. Furthermore, by its short activity, it supports the emerging concept of a 'fast track' approach - i.e. more patients do not require the stay on an intensive care unit after surgery, which also brings economic benefits to the hospital and payors. In the opinion of PAION, Remifentanil is an ideal 'companion product' for Remimazolam. This was confirmed in preclinical studies and in the anaesthesia study of ONO.

With the acquisition of Remifentanil, PAION reaches a first milestone for the implementation of its strategic orientation as a specialized supplier of products in anaesthesia. In addition to Remifentanil it is planned to acquire distribution rights for other anaesthesia products in the midterm. At the same time a lean sales organization focused on the anaesthesia market is being put in place. This unit will in the first phase be responsible for the commercialization of Remifentanil and should also market Remimazolam and other anaesthesia products in the future. With the emerging commercial platform for anaesthesia products PAION will be able, to take an active role in marketing and pre-marketing of Remimazolam in Europe. With a portfolio of generic anaesthesia products and after a successful marketing approval of Remimazolam, PAION is on the way to become an attractive partner for customers in the field of anaesthesia.

Dr. Wolfgang Söhngen, PAION's Chief Executive Officer, comments: 'Remifentanil together with Remimazolam is the ideal building block to grow our anaesthesia portfolio, since both substances are very well controllable through their ultra-short duration of action and therefore meet state of the art treatment requirements. The marketing of Remifentanil by PAION in combination with the further development of Remimazolam represents an important step in order to establish PAION as a specialized provider of high quality anaesthesia products for patients, physicians and payors. We are now in the process of identifying highly motivated sales professionals who are prepared to accompany us on our way to build a specialty pharma company with the spirit of real PAIONeers.'

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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 Remifentanil

Remifentanil is a pure µ-agonist with a 200-fold higher analgesic activity than morphine). The spectrums of efficacy are typical opioid effects such as analgesia and are particularly true for sedation. The degradation of the drug is organ-independent by nonspecific esterases; therefore, no dose adjustment is necessary for liver or kidney impairment. The half-life of Remifentanil is 3-10 minutes. Because of this short half-life usually Remifentanil is continuously administered, for example via a syringe pump. It is therefore hardly accumulated in adipose tissue; effect overhangs are very unlikely. Remifentanil, originally offered by GSK under the trade name Ultiva (R), is available as a generic since 2011.


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@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.

   
Record changed: 2019-06-09

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