PAION GRANTS EXCLUSIVE LICENSE TO CRISTÁLIA FOR DEVELOPMENT AND COMMERCIALIZATION OF REMIMAZOLAM IN LATIN AMERICA

PAION AG / Key word(s): Contract
PAION GRANTS EXCLUSIVE LICENSE TO CRISTÁLIA FOR DEVELOPMENT AND COMMERCIALIZATION OF REMIMAZOLAM IN LATIN AMERICA

27-Apr-2022 / 16:33 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

PAION GRANTS EXCLUSIVE LICENSE TO CRISTÁLIA FOR DEVELOPMENT AND COMMERCIALIZATION OF REMIMAZOLAM IN LATIN AMERICA

- EUR 3.5 million upfront payment to PAION

- 20% royalties on net sales

Aachen (Germany), 27 April 2022 - PAION AG, a specialty pharma company (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8), and Cristália Produtos Quimicos Farmaceuticos Ltda, Brazil ("Cristália") today announce that the companies have signed a license agreement for remimazolam, with PAION granting Cristália an exclusive license for the development and commercialization of remimazolam in Latin America.

PAION will receive a EUR 3.5 million upfront payment and is also entitled to receive a milestone payment of EUR 1 million for an NDA (New Drug Application) submission in the territory (Latin America) and an annual payment of EUR 0.5 million for each year of market exclusivity from the launch of the product. Cristália will pay PAION 20% royalties on net sales. Cristália plan to manufacture drug product in their own manufacturing plant to supply the licensed territory.

Cristália intends to market remimazolam in procedural sedation and general anesthesia and expects market approval in both indications in Brazil in 2024.

End of inside information

Dr Jim Phillips, CEO of PAION AG, commented: 'Cristália is an ideal partner for commercializing remimazolam in Latin America as they are well established in the local pharmaceutical markets and are the main producer of anesthetics in the region. They share PAION's goal of providing safe, effective and efficient hospital products to benefit patients, doctors and other stakeholders in healthcare. We are very much looking forward to Cristália bringing remimazolam to the market in this important region.'

Dr Ricardo S. Pacheco, Chairman of Cristália commented: 'Partnering with PAION is the right movement to keep increasing the access of Latin American patients and doctors to innovative drugs such as remimazolam. We share the goal of providing high quality and innovative hospital products to benefit patients, doctors and the whole healthcare environment. We are eager to start collaborating with PAION to bring remimazolam to Latin America market'.

About Cristália
CRISTÁLIA is a private owned Brazilian biopharmaceutical company, with 50 years of operation and a broad footprint across the main Latin America markets. Currently a leader in anaesthetics and critical care products, CRISTALIA supplies more than 95% of Brazilian hospitals and Healthcare services with a broad range of high-quality and affordable products.

In addition to the biopharmaceutical business, CRISTÁLIA also ranks between the biggest API manufacturers in Latin America, with state-of-the-art facilities dedicated to the manufacturing of synthetic, oncologic and biotech active ingredients.

CRISTÁLIA is headquartered in Campinas (Brazil).

About PAION
PAION AG is a publicly listed specialty pharmaceutical company with innovative drugs to be used in hospital-based sedation, anesthesia and critical care services. PAION's lead compound is remimazolam, an intravenous, ultra-short-acting and controllable benzodiazepine sedative/anesthetic. PAION is rolling out remimazolam (Byfavo^(R)) in selected European markets. Remimazolam is partnered in multiple territories outside of Europe. Remimazolam is approved in the U.S., the EU/EEA/UK, China and South Korea for procedural sedation and in Japan and South Korea for general anesthesia.

In addition, PAION markets two intensive care products in selected European countries: Angiotensin II (GIAPREZA^(R)), a vasoconstrictor indicated for the treatment of refractory hypotension in adults with septic or other distributive shock, and eravacycline (XERAVA^(R)), a novel fluorocycline type of antibiotic indicated for the treatment of complicated intra-abdominal infections in adults.

PAION's mission is to be a leading specialty pharmaceutical company in the fields of anesthesia and critical care by bringing novel products to market to benefit patients, doctors and other stakeholders in healthcare.

PAION is headquartered in Aachen (Germany).

Contact
Ralf Penner
Vice President Investor Relations/Public Relations
PAION AG
Heussstrasse 25
52078 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 PAION AG'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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