DGAP-News

DR. JUERGEN BECK WILL LEAVE THE PAION AG MANAGEMENT BOARD ON 31 DECEMBER 2020 AS PLANNED

DGAP-News: PAION AG / Key word(s): Personnel DR. JUERGEN BECK WILL LEAVE THE PAION AG MANAGEMENT BOARD ON 31 DECEMBER 2020 AS PLANNED 01.12.2020 / 14:00 The issuer is solely responsible for the content of this announcement. DR. JUERGEN BECK WILL LEAVE THE PAION AG MANAGEMENT BOARD ON 31 DECEMBER 2020 AS PLANNED Aachen (Germany), 01 December 2020 - The Specialty Pharma Company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) today announces that Dr. Juergen Beck will leave the Management Board of the company as planned at the end of his term of office on 31 December 2020. As Chief Development Officer, Dr. Beck was responsible, among other things, for product development, in particular for the remimazolam development program in procedural sedation in the U.S. and the EU Phase III program in general anesthesia. After successfully completing the development programs in the U.S. and Europe, PAION will be more focused on product commercialisation going forward. Dr. Jim Phillips, CEO of PAION AG, will take over the responsibilities from Dr. Beck, while existing Senior Vice Presidents Dr. Shaw Sorooshian (Medical Affairs) and Dr. Thomas Stoehr (Development) will lead all market-focused Medical Affairs activities, and the rump of the development organisation in the future. Dr. Beck will continue to be available to the company in an advisory role in the future. "On behalf of the Supervisory Board and the Management Board, I would like to thank Dr. Beck for his commitment and important contributions in recent years. Dr. Beck was responsible for the decisive steps leading up to U.S. approval and further development of remimazolam in Europe and triggered significant progress on PAION's successful path," commented Dr. Jörg Spiekerkötter, Chairman of the Supervisory Board of PAION AG. "We wish Dr. Beck the very best for the future." "As Chairman of the research and development committee, I thank Dr. Beck for the goal-oriented management of the development of remimazolam in Europe and his active support in the U.S. market application. I wish Dr. Beck continued success", said Dr. Dr. Irina Antonijevic, member of the Supervisory Board of PAION AG.