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Paion AG. (3/22/12). "Press Release: 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.

Region Region China
Organisations Organisation Paion AG
  Group Paion (Group)
  Organisation 2 Yichang Humanwell Pharmaceutical Co.
  Today Synexus (Group)
  Group Humanwell Healthcare (Group)
Product Product remimazolam (CNS 7056)
Person Person Penner, Ralf (Paion 201011 Director Investor/Public Relations)
     


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.


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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 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@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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