PAION AG GRANTS LICENSE TO YICHANG HUMANWELL FOR REMIMAZOLAM IN CHINA

PAION AG  / Key word(s): Contract

18.07.2012 15:44

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PAION AG GRANTS LICENSE TO YICHANG HUMANWELL FOR REMIMAZOLAM IN CHINA 

  - PAION receives EUR 3 million upfront payments

Aachen (Germany), 18 July 2012 - PAION AG (ISIN DE000A0B65S3; Frankfurt
Stock Exchange General Standard: PA8) and Yichang Humanwell Pharmaceutical
Co. Ltd, China, today announced that they have entered into a license
agreement for Remimazolam which gives Yichang an exclusive  licence for the
development, manufacture and commercialization in the territory of People's
Republic of China.

By concluding the license PAION receives upfront payments totalling EUR 3
million. These consist of payment for the option in the amount of EUR 0.3
million (received in April 2012), EUR 1.5 million are due by today's
signing of the license agreement and additional EUR 1.2 million is payable
upon completion of technology transfer (reproduction of a small scale
manufacturing process) but no later than June 2013. In addition, milestone
payments and royalties of 10% have been agreed. The amount of future
milestone payments will depend on the eventual development strategy for
Remimazolam selected by Yichang in China and has a volume of up to EUR 4
million.

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Information and Explaination of the Issuer to this News:

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.

18.07.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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@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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