17.12.2017 13:04:12
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DGAP-Ad hoc: PAION AG
DGAP-Ad-hoc: PAION AG / Key word(s): Contract PAION GRANTS EXCLUSIVE LICENSE TO MUNDIPHARMA FOR DEVELOPMENT AND COMMERCIALIZATION OF REMIMAZOLAM IN JAPAN - EUR 1 million upfront payment to PAION - Additional regulatory and commercial milestone payments of up to EUR 25 million - Royalties ranging from low double-digits to over 20% Aachen (Germany), 17 December 2017 - PAION AG, a specialty pharma company (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8), and Mundipharma today announce that they have entered into a license agreement for remimazolam with PAION granting Mundipharma an exclusive license for the development and commercialization of PAION's lead drug candidate, remimazolam, in Japan. Under the terms of the agreement, Mundipharma has the right and obligation to further develop remimazolam in all indications in Japan with PAION's support. Mundipharma will bear all cost for market authorization and distribution. PAION will receive a EUR 1 million upfront payment. PAION is also entitled to receive additional payments totaling up to EUR 25 million depending on the achievement of certain regulatory and commercial milestones in the three indications procedural sedation, general anesthesia and Intensive Care Unit (ICU) sedation. PAION is also entitled to receive tiered royalties starting in the low double-digits to over 20% of net sales, depending on sales levels and sales price (National Health Insurance (NHI) price), which will be determined by the Japanese government. End of inside information ### Contact Disclaimer:
17-Dec-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |
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639045 17-Dec-2017 CET/CEST
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