Tilmann Bur succeeds Gregor Siebert as CEO of PAION AG

PAION AG / Key word(s): Personnel
Tilmann Bur succeeds Gregor Siebert as CEO of PAION AG

14-Aug-2023 / 15:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Tilmann Bur succeeds Gregor Siebert as CEO of PAION AG

• Tilmann Bur appointed to the Management Board as CEO effective 01 September 2023
• As planned, Gregor Siebert as interim CEO will leave the Management Board on 30 September 2023 and will then continue to use his experience gained strategically as a member of the Supervisory Board of PAION

Aachen, 14. August 2023 - The specialty pharmaceutical company PAION AG (ISIN DE000A3E5EG5; Frankfurt Stock Exchange, Prime Standard: PA8) today announces that Tilmann Bur has been appointed to the Management Board effective 01 September 2023 and will succeed Gregor Siebert as CEO of PAION AG.

Mr. Gregor Siebert had been appointed by the Supervisory Board of PAION AG as a member of the Management Board and CEO on an interim basis pursuant to Sec. 105 (2) AktG for a period from 01 December 2022 to 30 November 2023. Mr. Siebert, in cooperation with Mr. Bur, will ensure an orderly transfer of his field of responsibilities and will step down from the Management Board as of 30 September 2023. It is planned that he will then take Dr. Sickinger's place on the Supervisory Board in the near future, who will resign his mandate for this purpose on 30 September 2023.

End of inside information

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Tilmann Bur has 20 years of international management experience with a focus on sales and marketing.

Mr. Bur has extensive experience in professional relationship management with decision makers in clinics as well as in setting up and managing national and international sales organizations and dealer networks. He knows the purchasing structures in the European hospital market and is well-versed in KOL management and clinical marketing. Among other positions, Mr. Bur was a member of the executive board at R-Biopharm, at Biosafe and managing director at Haemonetics. Since June 2019, Mr. Bur has been a member of the Management Board and most recently CEO of CO.DON AG, during that time he has played a key role in securing CO.DON's continued business operations.

Michael Schlenk, Chairman of the Supervisory Board, commented: "We would like to thank Mr. Gregor Siebert for his great commitment during his time as interim CEO of PAION and his willingness to take on responsibility with his expertise during this important phase. During this time, he has been instrumental in driving the transformation of the company. His successor Mr. Bur takes over responsibility at a point where the course has been set for the successful commercialization of our products. We intend to take advantage of Mr. Bur's international commercial experience as a pharmaceutical expert. We wish Mr. Bur good luck in the Management Board of PAION AG."

 Gregor Siebert, CEO of PAION AG, commented: "We have successfully advanced important areas in the past year and I can look forward to the future development of the company with optimism. I would like to express my heartfelt thanks to all employees and partners and will support my successor Mr. Bur during the transition phase."

 "I am looking forward to shaping PAION's future together with the entire team. We will master exciting challenges and I am convinced that we will be able to fully realize the great potential of our products," said Tilmann Bur.

 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 Byfavo^® (remimazolam), an intravenous, ultra-short-acting and controllable benzodiazepine sedative/anesthetic. PAION is rolling out Byfavo^® in selected European markets. Byfavo^® is partnered in multiple territories outside of Europe. Byfavo^® is approved in the U.S., the EU/EEA/UK, China and South Korea for procedural sedation and in the EU/EEA, Japan, the Philippines and South Korea for general anesthesia.

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 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

Senior Vice President Investor Relations & Corporate Communications

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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