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DGAP-News PAION RECEIVES EURO 2.1 MILLION THROUGH THE SALE OF DESMOTEPLASE BY COMPLETION OF DATA AND KNOW-HOW TRANSFER FROM H. LUNDBECK A/S

Nachrichtenquelle: EQS Group AG
 |  17.04.2012, 14:00  |  399 Aufrufe  |   | 


DGAP-News: PAION AG / Key word(s): Miscellaneous
PAION RECEIVES EURO 2.1 MILLION THROUGH THE SALE OF DESMOTEPLASE BY
COMPLETION OF DATA AND KNOW-HOW TRANSFER FROM H. LUNDBECK A/S


17.04.2012 / 14:00




PAION RECEIVES EURO 2.1 MILLION THROUGH THE SALE OF DESMOTEPLASE BY
COMPLETION OF DATA AND KNOW-HOW TRANSFER FROM H. LUNDBECK A/S

  - So far EUR 18.6 million of total EUR 20.1 million received

  - Management contracts of founders extended by 2 years

Aachen (Germany), 17 April 2012 - PAION AG (ISIN DE000A0B65S3; Frankfurt
Stock Exchange General Standard: PA8) today announces that H. Lundbeck A/S
has paid EUR 2.1 million of the total amount of EUR 20.1 million after the
full completion of the data and know-how transfer. This leaves EUR 1.5
million which will be held in escrow for twelve months and is payable
thereafter. The sale of Desmoteplase to Lundbeck was announced on 28
February 2012.

In connection with the sale of Desmoteplase and the started strategic
realignment as a specialized provider of anaesthesia products the
Supervisory Board of PAION AG extended the expiring contracts with the
current management board members Dr Mariola and Dr Wolfgang Söhngen. The
remuneration of the base salary was reset to 100% due to the improved
financial situation of the company. Hence the founders will accompany the
phase of the extension of the business model.

The chairman of the supervisory board Dr Jörg Spiekerkötter commented: ´We
are very happy that with the completion of the Desmoteplase transaction we
now had the opportunity to extend the management contracts to be able to
successfully create the strategic realignment together with the founders of
PAION AG.´

###

About PAION
PAION is headquartered in Aachen, Germany and has a second site in
Cambridge, UK. The company is specialised in developing innovative drugs
for the hospital-based treatment in indications for which there is a
substantial unmet medical need. PAION is extending its ´Search & Develop´
business model, by transforming into a ´Specialty Pharma Company´, with a
focus on anaesthesia products.

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




17.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP´s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de




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  

  
165286 17.04.2012                                                      

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