DGAP-News: PAION AG / Key word(s): Miscellaneous
PAION RECEIVES MILESTONE OF GBP 300,000 AFTER CAMBRIDGE COGNITION
HOLDINGS LISTS ON LONDON STOCK EXCHANGE
07.05.2013 / 14:00
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PAION RECEIVES MILESTONE OF GBP 300,000 AFTER CAMBRIDGE COGNITION HOLDINGS
LISTS ON LONDON STOCK EXCHANGE
- Cambridge Cognition, a spin-out of CeNeS, now PAION UK, begins trading
on London's Alternative Investment Market
Aachen (Germany), 07 May 2013 - PAION AG (ISIN DE000A0B65S3; Frankfurt
Stock Exchange, General Standard: PA8), a biopharmaceutical company,
announced today that Cambridge Cognition Holdings PLC (AIM: COG), a
spin-out of CeNeS, now PAION UK, began trading on the Alternative
Investment Market (AIM) of the London Stock Exchange, on 18 April 2013.
Cambridge Cognition specialises in computerised neuropsychological tests
including those enabling the early detection of dementia.
The spin-out of Cambridge Cognition from CeNeS, now PAION UK, was announced
in May 2002. The total value of the agreement was £1 million payable to
CeNeS. Of this total consideration, GBP 700,000 was paid in upfront and
stage payments and an additional GBP 300,000 is now payable to PAION due to
the AIM listing.
'We will immediately reinvest the money in the further development of
Remimazolam', said PAION CEO Dr Wolfgang Söhngen. 'We wish Cambridge
Cognition all the best in their future as a public company.'
###
About PAION
PAION AG is a publicly-listed biotech company headquartered in Aachen,
Germany with a second site in Cambridge, UK. The company has a track record
in developing hospital-based treatments for which there is substantial
unmet medical need. PAION AG is transforming its business model from a pure
development company to a specialty pharmaceutical company with a focus on
anaesthesia products to take advantage of the unique profile of its main
compound, Remimazolam.
Contact
Ralf Penner
Director Investor Relations / Public Relations
PAION AG
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.
End of Corporate News
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Language: English
Company: PAION AG
Martinstr. 10-12
52062 Aachen
Germany
Phone: +49 (0)241-4453-0
Fax: +49 (0)241-4453-100
E-mail: info@paion.com
Internet: www.paion.com
ISIN: DE000A0B65S3
WKN: A0B65S
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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209980 07.05.2013
DGAP-News: PAION RECEIVES MILESTONE OF GBP 300,000 AFTER CAMBRIDGE COGNITION HOLDINGS LISTS ON LONDON STOCK EXCHANGE
| Source: EQS Group AG