PAION : GRANTS EXCLUSIVE LICENSE TO MUNDIPHARMA FOR DEVELOPMENT AND COMMERCIALIZATION OF REMIMAZOLAM IN JAPAN

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

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Contact
Ralf Penner
Vice President Relations/Public Relations
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.