DGAP-Adhoc: PAION AG GRANTS LICENSE TO HANA PHARM

PAION AG / Key word(s): Contract 28.10.2013 13:30 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PAION AG GRANTS LICENSE TO HANA PHARM FOR REMIMAZOLAM IN SOUTH KOREA - PAION receives EUR 1 million upfront payment - Potential milestone payments of up to EUR 2 million - 10% royalties Aachen (Germany), 28 October 2013 - PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange General Standard: PA8) and Hana Pharmaceutical Co., Ltd, South Korea, today announced that they have entered into a license agreement for Remimazolam which gives Hana Pharm an exclusive licence for the development, manufacture and commercialization in the territory of South Korea. By concluding the license PAION receives upfront payments totalling EUR 1 million. These consist of payment for the option in the amount of EUR 0.3 million (received in July 2013), and EUR 0.7 million are due by today's signing of the license agreement. In addition, potential milestone payments of up to EUR 2 million and 10% royalties on sales in the South Korean market have been agreed. Hana Pharm will manage and finance the development and marketing approval process in South Korea. Hana Pharm intends to market Remimazolam in all indications with the lead indication anaesthesia. ### Contact Ralf Penner Director Investor Relations / Public Relations PAION AG Martinstrasse 10-12 52062 Aachen - Germany Phone: +49 241 4453-152 E-mail: r.penner@paion.com www.paion.com Disclaimer: 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. 28.10.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: PAION AG Martinstr. 10-12 52062 Aachen Germany Phone: +49 (0)241-4453-0 Fax: +49 (0)241-4453-100 E-mail: info@paion.com Internet: www.paion.com ISIN: DE000A0B65S3 WKN: A0B65S Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------