DGAP-News: PAION AG: PAION AG ANNOUNCED RECRUITEME

DGAP-News: PAION AG / Key word(s): Research Update PAION AG: PAION AG ANNOUNCED RECRUITEMENT OF ONO'S HEPATIC IMPAIRMENT STUDY WITH REMIMAZOLAM (DEVELOPMENT CODES: ONO-2745/CNS 7056) IS COMPLETED 30.10.2013 / 07:30 --------------------------------------------------------------------- PAION AG ANNOUNCED RECRUITEMENT OF ONO'S HEPATIC IMPAIRMENT STUDY WITH REMIMAZOLAM (DEVELOPMENT CODES: ONO-2745/CNS 7056) IS COMPLETED Aachen (Germany), 30 Oktober 2013 - PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange General Standard: PA8) today announced that its Japanese development partner, Ono Pharmaceutical Co., Ltd. ('Ono') has completed the recruitment of a study in patients with chronic hepatic impairment using Remimazolam (development codes: ONO-2745/CNS 7056). This was the study required to complete the Japanese development program for the indication of induction and maintenance of general anesthesia. This study was conducted in the USA as an open-label study with sequential parts to compare the pharmacokinetics and safety of Remimazolam in subjects with chronic hepatic impairment with their respectively matching healthy volunteers. No adverse events of concern were observed in this study. ONO entered into a license agreement with PAION in August 2007, acquiring the exclusive rights to develop and market Remimazolam in Japan. Dr. Mariola Söhngen, the Chief Medical Officer at PAION states: 'Once again we can congratulate our partner ONO. After completion of the Japanese development work for the indication of induction and maintenance of general anesthesia we look forward to the study results of the Phase III program and to PMDA filing.' ### About PAION PAION AG is a publicly-listed biotech company headquartered in Aachen, Germany with a second site in Cambridge, UK. The company has a track record in developing hospital-based treatments for which there is substantial unmet medical need. PAION AG is transforming its business model from a pure development company to a specialty pharmaceutical company with a focus on anaesthesia products to take advantage of the unique profile of its main compound, Remimazolam. About Remimazolam Remimazolam is an innovative short-acting general anaesthetic/sedative. Due to its short duration of action and good controllability, it has a favorable efficacy and safety profile relative to other currently marketed anaesthesia compounds. The rapid offset of Remimazolam's effect is due to its metabolism by tissue esterase enzymes that are widely distributed throughout the body. Remimazolam has potential in three indications: - Procedural sedation - General anaesthesia - ICU sedation Remimazolam is available for licensing outside Japan, China and South Korea, where the compound is partnered with Ono Pharmaceutical, Yichang Humanwell and Hana Pharm. 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. End of Corporate News --------------------------------------------------------------------- 30.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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 News DGAP News-Service --------------------------------------------------------------------- 236644 30.10.2013