PAION AG enters partnership with Viatris and expands sales activities in Europe

EQS-News: PAION AG / Key word(s): Expansion
PAION AG enters partnership with Viatris and expands sales activities in Europe
16.11.2022 / 11:40 CET/CEST
The issuer is solely responsible for the content of this announcement.

PAION AG enters partnership with Viatris and expands sales activities in Europe

• Viatris, leveraging its Global Healthcare Gateway in partnership with Paion shall distribute the products Remimazolam, Eravacycline and Angiotensin II in a total of 7 European target markets
• Focus remains on expansion of commercial sales in Europe 

Aachen, Germany, 16 November 2022 - PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8), a specialty pharmaceutical company with innovative compounds for use in outpatient and hospital sedation, anaesthesia and intensive care, has entered into a long-term collaboration with Mylan Ireland Limited, a subsidiary of the Viatris Group, for the distribution in both Southern Europe and other European countries which are not currently served by PAION or its other distribution partner Medis. Under this distribution agreement Viatris will take care of the launch, promotion and commercial distribution of the three products remimazolam (Byfavo®), eravacycline (XERAVA®) and angiotensin II (GIAPREZA®) in Belgium, Poland, France and Romania as well as in the Southern European countries Italy, Spain and Greece.

Under the terms of the collaboration agreement, on the one hand, PAION will receive a upfront payment. In addition, Viatris will purchase supply of the products from PAION and also share with them the profits from product sales.

Commenting on the sales activities, Dr. Jim Phillips, CEO of PAION AG, said: "We are very pleased to have entered into a long-term partnership with leading global healthcare company Viatris to provide access to medicines for patients in Europe. This is an important milestone for PAION to drive forward its sales activities in Europe in a targeted manner. Both companies see growth potential for our products across the European continent. This transaction also allows us to focus on driving sales and profitability in our core markets while partnering with a top 20 global company in Paion’s non-core EU markets. As a further important milestone we continue to expect the EMA's decision on the extension application for the marketing authorisation for Remimazolam for general anaesthesia in the first quarter of 2023." 

PAION chose to partner with Viatris to leverage its Global Healthcare Gateway to bring to the market their novel, innovative therapies in the area of Anesthesia and Critical Care and provide more access at scale for patients in Europe.


About PAION

PAION AG is a publicly listed specialty pharmaceutical company with innovative compounds for use in outpatient and hospital sedation, anaesthesia and intensive care. PAION's lead compound is Remimazolam, an intravenously administered, ultra-short acting and highly controllable benzodiazepine sedative and anaesthetic. PAION has started the commercialisation of Remimazolam (Byfavo®) in selected European markets. Remimazolam is partnered in several markets outside Europe. Remimazolam is approved in the US, EU/EEA/UK, China and South Korea for short sedation and in Japan, China and South Korea for general anaesthesia. 

In addition, PAION markets two products for critical care in selected European countries: Angiotensin II (GIAPREZA®), a vasoconstrictor for the treatment of refractory hypotension in adults with septic or other distributive shock, and Eravacycline (XERAVA®), a novel fluorocycline antibiotic 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 that benefit patients, physicians and other healthcare stakeholders.

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.

16.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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