DGAP-Adhoc: PAION SIGNS EXCLUSIVE OPTION AGREEMENT WITH HANA PHARM FOR REMIMAZOLAM IN SOUTH KOREA

PAION AG / Key word(s): Contract

02.07.2013 09:31

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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PAION SIGNS EXCLUSIVE OPTION AGREEMENT WITH HANA PHARM FOR REMIMAZOLAM IN
SOUTH KOREA

- Upfront payments in the total amount of EUR 1 million subject to
signing of the final licensing agreement

- Royalties of 10% agreed

Aachen (Germany), 02 July 2013 - PAION AG (ISIN DE000A0B65S3; Frankfurt
Stock Exchange General Standard: PA8) and Hana Pharmaceutical Co., Ltd,
South Korea, today announced that they have entered into an exclusive
license option agreement for Remimazolam which gives Hana Pharm exclusivity
to negotiate with PAION a licence for the development, manufacture and
commercialization in the territory of South Korea for an option fee of EUR
300.000.

If both parties successfully execute a final licensing agreement within a
certain exclusivity period, PAION will be eligible to receive upfront
payments of EUR 1 million, potential milestone payments of up to EUR 2
million and 10% royalties on sales in the Korean market. The option fee of
EUR 300,000 will be deducted from the upfront payment.

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Information and Explaination of the Issuer to this News:

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 Hana Pharm
Since founded in 1996, Hana Pharm has been manufacturing various medicines
that are strongly needed by customers, like intravenous anaesthetics and
narcotic analgesics. Hana Pharm is continuing to invest in R&D and
production facilities in order to comply with global standards.

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 and South
Korea, where the compound is partnered with Ono Pharmaceutical and Yichang
Humanwell and Hana Pharm has an exclusive option

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.

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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@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 Announcement DGAP News-Service

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