DGAP-News: PAION AG / Key word(s): Contract
PAION AG GRANTS LICENSE TO YICHANG HUMANWELL FOR M6G IN CHINA
24.09.2014 / 10:34
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PAION AG GRANTS LICENSE TO YICHANG HUMANWELL FOR M6G IN CHINA
- EUR 1.6 million license fee - first payment of EUR 0.8 million due upon
signing of the agreement
Aachen (Germany), 24 September 2014 - PAION AG, a Specialty Pharma Company
(ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) and
Yichang Humanwell Pharmaceutical Co. Ltd, China, today announced that they
have entered into a license agreement for M6G which gives Yichang an
exclusive licence under PAION's know-how regarding M6G for the development,
manufacture and commercialization in the territory of People's Republic of
China.
By concluding the license PAION receives payments totalling EUR 1.6
million. EUR 0.8 million is due through today's signing of the license
agreement. The remaining payments are due upon reaching certain development
milestones in the next 1.5 years.
Yichang intends to develop and commercialize M6G for peri-operative pain
for the Chinese Market.
Dr. Wolfgang Söhngen, Chief Executive Officer of PAION AG, stated: " With
Yichang Humanwell we have found a buyer in China, who has already proven to
be a very good partner in connection with Remimazolam. We still see M6G as
a substance that can meaningfully expand our anaesthesia portfolio in the
future. For now our focus stays on the development of Remimazolam. We are
proud that Yichang Humanwell shares our view regarding the potential of M6G
and thank our partner for their trust in this new transaction and resulting
partnership."
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About PAION
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 and out licensing of hospital-based treatments
for which there is substantial unmet medical need. PAION's strategy is to
extend its business model from a pure development company to a specialty
pharmaceutical company with a focus on anaesthesia products. Remimazolam
is intended to be the basis for its future marketing activities.
About YICHANG
Yichang Humanwell Pharmaceutical Co. is part of Wuhan Humanwell healthcare
(Group) Co., Ltd an industrial group giving priority to the medical health
business, specializes in the development, production, distribution and
technical support of pharmaceutical, medical instruments and reproductive
healthcare products and technologies. Yichang Humanwell is the largest
company to develop and produce narcotic products in China.
About M6G
Morphine-6-glucuronide (M6G) is an active potent metabolite of morphine
which may offer therapeutic advantages over morphine, the current gold
standard for the treatment of moderate to severe post-operative pain, in
having an equivalent analgesic effect, but with a reduced potential to
cause side-effects such as nausea and vomiting. Clinical trials have shown
that M6G given intravenously can induce analgesia equivalent to morphine in
the treatment of moderate to severe post-operative pain. These studies,
along with those published in the scientific literature, suggest that M6G
also induces less post operative nausea and vomiting compared with
morphine, as well as less sedation and respiratory depression. Two Phase
III trials have been completed with M6G. M6G has the potential to be a good
fit in PAION's anaesthesia portfolio.
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.
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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 (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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288312 24.09.2014
DGAP-News: PAION AG GRANTS LICENSE TO YICHANG HUMANWELL FOR M6G IN CHINA
| Source: EQS Group AG