DGAP-News

PAION AG: TIMOTHY E. MORRIS JOINS PAION, INC. AS A NON-EXECUTIVE DIRECTOR

DGAP-News: PAION AG / Key word(s): Change of Personnel
PAION AG: TIMOTHY E. MORRIS JOINS PAION, INC. AS A NON-EXECUTIVE
DIRECTOR

07.08.2015 / 14:00

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TIMOTHY E. MORRIS JOINS PAION, INC. AS A NON-EXECUTIVE DIRECTOR

- Mr. Timothy E. Morris will advise PAION, Inc. in building up and
financing of the growing U.S. activities and in preparing for the
upcoming commercialization of Remimazolam.

Aachen, 07 August 2015 - PAION AG, a Specialty Pharma Company (ISIN
DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8), today
announced the appointment of Timothy E. Morris to the non-executive Board
of PAION, Inc. where he will also serve as a financial advisor to the
company. Tim Morris has 31 years of professional finance and accounting
experience, 20 of those years spent in the role of Chief Financial Officer,
predominantly with biopharmaceutical companies. Tim Morris will advise
PAION, Inc. in building up and financing of the company's growing U.S.
activities and in preparing for the upcoming commercialization of
Remimazolam.

"The board of directors joins me in welcoming Tim to this new position,"
said Dr. Wolfgang Söhngen, Chief Executive Officer of PAION AG. "With his
experience in transitioning a development-stage company to commercial
capability, his expertise in structuring and valuing transactions and his
extensive relationships within the investment community, Tim will be
invaluable to PAION as it develops Remimazolam for procedural sedation in
the U.S. and regards the funding of the commercialization of the drug as an
attractive option."

Tim Morris commented: "PAION and Remimazolam represent a great opportunity
and I am honored to join the company's board at this important time as it
transitions to a commercial-stage company."

Greg Papaz, President and Chief Executive Officer of PAION, Inc., added:
"Tim has extensive fundraising experience and raised over $ 900 million in
equity and convertible securities. As a Certified Public Accountant and
Chief Financial Officer of a publicly traded company, he is qualified as an
Audit Committee Financial Expert under Sarbanes-Oxley Act, NASDAQ, NYSE
regulations and I am confident he will help us achieve our goals in the
U.S."

Tim Morris joined AcelRx Pharmaceuticals Inc., a specialty pharmaceutical
company focused on the development and commercialization of innovative
therapies for the treatment of acute and breakthrough pain, in 2014 and
currently serves as its Chief Financial Officer and head of business