| Source: EQS Group AG
PAION AG  / Key word(s): Contract

17.06.2014 16:17

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.



  - R-Pharm to extend license territory by adding "MENA Region" (Middle
    East and North Africa)

  - EUR 1.5 million upfront payment

  - EUR 5.5 million in future milestone payments

  - Low double digit royalties 

  - As in Turkey TR-Pharm will manage the development and marketing
    approval process

Aachen (Germany), 17 June 2014 - PAION AG (ISIN DE000A0B65S3; Frankfurt
Stock Exchange Prime Standard: PA8), a Specialty Pharma Company, and
R-Pharm, Russia, today announced that they have extended their license
agreements for Remimazolam to include the "MENA Region" (Middle East and
North Africa).  TR-Pharm, based in Istanbul, an affiliate of Moscow based
Remimazolam licensee R-Pharm, will manage the development and marketing
approval process in the "MENA Region". R-Pharm entered into an exclusive
licence agreement for Russia (CIS) on October 30, 2013 and has extended its
license agreement for Remimazolam on 26 November 2013 to include Turkey.

PAION will receive an upfront payment in the amount of EUR 1.5 million,
potential regulatory and commercial milestone payments of up to EUR 5.5
million and low double digit royalties on net sales in the Territory.

TR-Pharm intends to market Remimazolam in all indications with the lead
indication anaesthesia and expects an earliest launch of Remimazolam in


About Remimazolam
Remimazolam is an innovative short-acting general anaesthetic/sedative. Due
to its short duration of action and good controllability, it has a
preferable efficacy and safety profile relative to other currently marketed
anaesthesia compounds. The rapid offset of Remimazolam's effect is due to
its metabolism by tissue esterase enzymes that are widely distributed
throughout the body.

Remimazolam has potential in three indications:
  - Procedural sedation 

  - General anaesthesia 

  - ICU sedation

Remimazolam is available for licensing outside Japan, China, Russia (CIS),
Turkey and the "MENA Region", Canada as well as South Korea, where the
compound is partnered with Ono Pharmaceutical, Yichang Humanwell, R-Pharm,
Pendopharm and Hana Pharm.

PAION AG is a publicly-listed Specialty Pharma 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.

About R-Pharm, TR-Pharm
R-Pharm is a Russian private pharmaceutical company with focus on hospital/
specialty care, founded in 2001. Turnover in 2013 was over 1.8 bn USD.
R-Pharm has over 2800 employees and covers the entire territory of Russia
and CIS. The company is involved in research and development,
manufacturing, marketing, sales and distribution of innovative
pharmaceutical and biotech products.
TR-Pharm is R-Pharm's affiliated company headquartered in Istanbul, Turkey
aiming to launch innovative products, in Turkey and MENA, with a vision of
constructing a biotech production facility in line with the incentive plan
announced by the Turkish Government.

Ralf Penner
Director Investor Relations / Public Relations
Martinstrasse 10-12
52062 Aachen - Germany
Phone: +49 241 4453-152
E-mail: r.penner@paion.com

Anna Voronina
Head of Public Relations
Russian Federation
10, Testovskaya st., 123317, Moscow
Phone: +7-495-956-79-37 (2110)
Mob: +7-925-804-16-72
E-Mail: voronina@rpharm.ru

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

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Language:     English
Company:      PAION AG
              Martinstr. 10-12
              52062 Aachen
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 (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement                             DGAP News-Service