DGAP-News

DR. MARIOLA SÖHNGEN WILL LEAVE MANAGEMENT BOARD OF PAION AG AS OF 31 OCTOBER 2015 AND PAION PLANS NEW COMPOSITION OF EXECUTIVE MANAGEMENT

DGAP-News: PAION AG / Key word(s): Change of Personnel
DR. MARIOLA SÖHNGEN WILL LEAVE MANAGEMENT BOARD OF PAION AG AS OF 31
OCTOBER 2015 AND PAION PLANS NEW COMPOSITION OF EXECUTIVE MANAGEMENT

07.07.2015 / 20:25

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DR. MARIOLA SÖHNGEN WILL LEAVE MANAGEMENT BOARD OF PAION AG AS OF 31
OCTOBER 2015 AND PAION PLANS NEW COMPOSITION OF EXECUTIVE MANAGEMENT

- Dr. Mariola Söhngen, CMO of PAION AG, will resign from her office as of
31 October 2015 to pursue a new challenge

- In the future, Dr. Mariola Söhngen will provide her expertise to the
Company as a consultant. The position of a CMO will be filled with
focus on the U.S. market

- It is planned to establish the position of a COO in Europe

- Supervisory Board extends appointment of Dr. Wolfgang Söhngen as CEO
until end of December 2018

Aachen, 07 July 2015 - PAION AG, a Specialty Pharma Company (ISIN
DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) today announces
that Dr. Mariola Söhngen, Chief Medical Officer ("CMO") and co-founder of
the Company, has informed the Chairman of the Supervisory Board that she
wants to leave the Management Board of the Company‎ prior to the end of her
current appointment until 31 December 2016 to pursue a new management
opportunity at another company that is not competing with PIAON. Today the
Supervisory Board has basically agreed with Mrs. Söhngen that she will
resign from office as of 31 October 2015. The details of the termination
agreement will be agreed between the Supervisory Board and Mrs Söhngen.
Mrs. Söhngen will continue to provide her expertise as a consultant on
request after her departure.

"With Remimazolam being destined for two potential filings in 2016 and
2017, the regulatory framework with the U.S. and European agencies has been
successfully set up including the resulting trials. This allows me to
transfer the responsibility for the execution of the program to our great
team at PAION", CMO Dr. Mariola Söhngen commented and added: "Especially
the operational support of Remimazolam in the U.S. with regard to the
potential self-commercialization will require more high-level management on
site, while I would like to have broader management responsibilities. I am
looking to the future commercialization of Remimazolam with optimism and