DGAP-Adhoc

​​​​​​​PAION ANNOUNCES EXCLUSIVE LICENSING AGREEMENT WITH LA JOLLA PHARMACEUTICAL FOR GIAPREZA(TM) (ANGIOTENSIN II) AND XERAVA(TM) (ERAVACYCLINE) IN EUROPE

DGAP-Ad-hoc: PAION AG / Key word(s): Agreement ​​​​​​​PAION ANNOUNCES EXCLUSIVE LICENSING AGREEMENT WITH LA JOLLA PHARMACEUTICAL FOR GIAPREZA(TM) (ANGIOTENSIN II) AND XERAVA(TM) (ERAVACYCLINE) IN EUROPE 12-Jan-2021 / 13:40 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. PAION ANNOUNCES EXCLUSIVE LICENSING AGREEMENT WITH LA JOLLA PHARMACEUTICAL FOR GIAPREZA(TM) (ANGIOTENSIN II) AND XERAVA(TM) (ERAVACYCLINE) IN EUROPE

- PAION in-licenses exclusive rights to commercialize GIAPREZA(TM) and XERAVA(TM) throughout Europe

- La Jolla Pharmaceutical Company to receive USD 22.5 million upfront payment, up to USD 109.5 million in commercial milestone payments, and double-digit tiered royalty payments

- PAION to accelerate building its commercial organization in Europe to prepare for launches of GIAPREZA(TM), XERAVA(TM) and Byfavo^(R) (remimazolam) in Europe during 2021
 

Aachen (Germany), 12 January 2021 - The Specialty Pharma Company, PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) and its wholly owned subsidiary PAION Deutschland GmbH (collectively PAION), today announce that they entered into an exclusive license agreement with La Jolla Pharmaceutical Company and certain of its wholly owned subsidiaries (collectively La Jolla) for GIAPREZA(TM) (angiotensin II) and XERAVA(TM) (eravacycline). The agreement grants PAION an exclusive license for the commercialization of these two approved products in the European Economic Area, the United Kingdom and Switzerland (the Territories).

GIAPREZA(TM) is approved by the European Commission as a vasoconstrictor indicated for the treatment of refractory hypotension in adults with septic or other distributive shock who remain hypotensive despite adequate volume restitution and application of catecholamines and other available vasopressor therapies. XERAVA(TM) (eravacycline) is approved by the European Commission for the treatment of complicated intra-abdominal infections in adults. Both products are already launched in the U.S. and are showing strong revenue growth and potential.