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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  |  480  |  0
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    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  

      
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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



    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

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