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PAION AG / Key word(s): Contract
PAION GRANTS REMIMAZOLAM LICENSE FOR SOUTHEAST ASIA TO HANA PHARM
- Hana Pharm to extend remimazolam license territory by adding Southeast Asia
- EUR 1.5 million upfront payment
- Up to EUR 4.2 million in future milestone payments
- Low double-digit royalties
Aachen (Germany), 08 January 2020 - The Specialty Pharma Company PAION AG (FSE: PA8) and Hana Pharm, South Korea, today announce that they have extended their license agreement for remimazolam to include Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam), and Hana Pharm will manage the development and marketing approval process. Hana Pharm entered into an exclusive remimazolam license agreement for South Korea in 2013.
PAION will receive an upfront payment in the amount of EUR 1.5 million, potential regulatory and commercial milestone payments of up to EUR 4.2 million and low double-digit royalties on net sales in the Territory.
End of inside information
Information and Explanation of the Issuer to this News:
This release contains certain forward-looking statements concerning the future business of PAION AG. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION AG's management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from the Company's assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION AG has no obligation to periodically update any such forward-looking statements to reflect future events or developments.
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||948899|
|End of Announcement||DGAP News Service|