PAION AG’S PARTNER TTY BIOPHARM RECEIVES MARKET APPROVAL FOR REMIMAZOLAM IN PROCEDURAL SEDATION IN TAIWAN

EQS-News: PAION AG / Key word(s): Market Launch
PAION AG’S PARTNER TTY BIOPHARM RECEIVES MARKET APPROVAL FOR REMIMAZOLAM IN PROCEDURAL SEDATION IN TAIWAN
14.11.2022 / 15:10 CET/CEST
The issuer is solely responsible for the content of this announcement.

PAION AG’S PARTNER TTY BIOPHARM RECEIVES MARKET APPROVAL FOR REMIMAZOLAM IN PROCEDURAL SEDATION IN TAIWAN

• TTY Biopharm is planning to launch this new sedative in December 2022
• Approximately 1.3 million invasive medical procedures take place annually in Taiwan, of which ~50-80% use moderate sedation
• PAION already has selected partnerships to license remimazolam in the US, EU/EEA/UK, China and South Korea for procedural sedation and in Japan and South Korea for general anesthesia, as well as in selected European markets

Aachen (Germany), 14 November 2022 – The specialty pharmaceutical company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8) today informs that the Taiwan Food and Drug Administration (TFDA) has approved remimazolam for injection for the induction and maintenance of procedural sedation in adults. This will allow for PAION’s partner TTY Biopharm Company Limited ("TTY") to launch remimazolam in December 2022 in this market. TTY Biopharm is a publicly listed pharmaceutical company with extensive expertise in the development and marketing of innovative pharmaceuticals.

Dr. Jim Phillips, CEO of PAION AG, commented: “We are very pleased to have found in TTY Biopharm an excellent partner for the development and commercialization of our lead product in Taiwan. Strengthened by TTY Biopharm's long-standing expertise, we are confident that we can optimally serve the attractive market potential offered to us in Taiwan in the field of anesthesia. The approval in the procedural sedation indication in Taiwan represents an important milestone in our partnership and underscores the long-term commitment to develop further important core markets and make the product available to patients around the world.” 

TTY’s CEO, Sara Hou stated: “PAION formed in 2000 is a specialty pharmaceutical company dedicated to the development of innovative drugs in the fields of anesthesia and critical care. Remimazolam, developed by PAION is an ultra-short-acting and predictable intravenous benzodiazepine sedative that has been approved and launched in many countries. Remimazolam is an important addition to the limited selection of drugs available for procedural sedation, which is a promising medicine for physicians and patients. PAION is TTY’s ideal partner and we are looking forward to our collaboration with PAION will provide a meaningful contribution to anesthesia and critical care.”
 

About TTY Biopharm

Established in 1960, TTY Biopharm Company Limited, a publicly listed pharmaceutical company, has transformed in the last fifty years from a production- and sales-oriented generic manufacturing facility into a development- and marketing-focused company of innovative pharmaceuticals. With unending self-renovation and transformation, TTY is utilizing the experience, technology, and relationship network accumulated over the decades to redefine itself as a biotech company focusing on developing special formulations and novel drugs. Its mission is to improve the quality of human life with scientific innovation. Additional information can be found at http://eng.tty.com.tw/.

About PAION

PAION AG is a publicly listed specialty pharmaceutical company with innovative drugs to be used in hospital-based sedation, anaesthesia 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®) 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 anaesthesia.

In addition, PAION markets two intensive care products in selected European countries: Angiotensin II (GIAPREZA®), a vasoconstrictor indicated for the treatment of refractory hypotension in adults with septic or other distributive shock, and eravacycline (XERAVA®), 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 anaesthesia and critical care by bringing novel products to market to benefit patients, doctors and other stakeholders in healthcare.

PAION is headquartered in Aachen (Germany).

PAION contact:

Investor Relations
cometis AG
Thorben Burbach
Tel.: +49 (0) 611 205855 23
E-Mail: burbach@cometis.de
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.

14.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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