Remimazolam strategy

PAION has selectively formed, and seeks to enter into, development and marketing collaborations with partners with local expertise or with a specific therapeutic focus with respect to remimazolam. Such collaborations are an effective way of funding and advancing remimazolam’s late-stage development and of assisting PAION with its commercialization in international markets where PAION do not intend to directly conduct sales and marketing activities. PAION expects that the existing collaboration partners will continue the development of remimazolam on the basis of data generated from our U.S., Japanese and European clinical development program, and subsequently PAION may receive additional data and payments under the existing agreements in the medium to long term. PAION’s ultimate goal is to participate in the worldwide commercialization of remimazolam. PAION is well positioned to find collaboration partners as pharmaceutical companies have a growing need to add drugs to their pipeline that have already demonstrated proof of concept in advanced stages of clinical trials and also provide a commercially viable alternative in a global healthcare environment characterized by increasing cost consciousness.