​​​​​​​PAION REPORTS SOLID PROGRESS IN ITS COMMERCIAL ACTIVITIES IN EUROPE

DGAP-News: PAION AG / Keyword(s): Miscellaneous

​​​​​​​PAION REPORTS SOLID PROGRESS IN ITS COMMERCIAL ACTIVITIES IN EUROPE
24.06.2022 / 09:06
The issuer is solely responsible for the content of this announcement.

PAION ANNOUNCES SOLID PROGRESS IN ITS COMMERCIAL ACTIVITIES IN EUROPE

– Product rollouts in the UK, Netherlands and Scandinavia are going well, including form acceptance

– Positive customer feedback following a first experience with PAION products

Aachen (Germany), June 24, 2022 – Specialty pharmaceutical company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) today announced good progress in its commercial deployment activities for remimazolam (Byfavo®), eravacycline (XERAVA®) and angiotensin II (GIAPREZA®) in Europe, including obtaining form acceptance.

Since we are still in the early stages of commercialization, we are focused on form acceptance, and our team is making great strides here. It is important to note that we have received positive feedback from customers on their first experience with our products, especially remimazolam, which is also reflected in the high pricing and reimbursement levels we have achieved so far. now “, said Dr. Jim Phillips, CEO of PAION AG. “Our experience so far in 2022 is very encouraging for the future, and we look forward to reporting on our progress which we hope will be reflected in increased sales over time..”

PAION has built up its commercial presence in the UK, the Netherlands and Scandinavia, with highly experienced and motivated teams who are now on the road and visiting customers. While the sales force is focused on remimazolam, a sedative/anesthetic that is expected to be PAION’s most important product, the company has also reported that it is seeing positive signs of absorption of angiotensin II, a vasoconstrictor , in Germany. The company reported that pricing and reimbursement levels for remimazolam exceeded initial targets, with the average net selling price of remimazolam being around EUR 19 per 20 mg, which is at the upper end of price expectations. of PAION.

In the United Kingdom, the Company has a partnership with Clinigen for the supply of PAION products. With the first successful form approvals of remimazolam in National Health Service (NHS) Trust hospitals, PAION expects to see increased and more stable uptake of its products in the UK in the future.

For Scandinavia, Denmark serves as the center of commercial exploitation, with activities currently focused on remimazolam. Discussions with the Danish Medicines Council (DMC) regarding reimbursement have been completed. As purchasing and pricing decisions will not be dictated at the national level, PAION has more freedom in the other Scandinavian countries. Deployments began in Denmark in Q4 2021; deployments to other countries in the region underway.

In the Netherlands, all three products are now listed and available. The PAION sales team expands the initial target group from anesthesiologists to gastroenterologists and expects strong synergies and a very efficient deployment of the sales force through the commercialization of several products.

In Germany, only angiotensin II is currently available to hospitals and PAION expects to successfully conclude discussions and reimbursement contracts with insurers in July 2022.

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About PAION
PAION AG is a listed specialty pharmaceutical company that provides innovative medicines for hospital sedation, anesthesia and intensive care departments. The main compound in PAION is remimazolam, an ultra-short and controllable intravenous benzodiazepine sedative/anaesthetic. PAION deploys remimazolam (Byfavo®) in some European markets. Remimazolam is a partner in several territories outside of Europe. Remimazolam is approved in the US, EU/EEA/UK, China and South Korea for procedural sedation and in Japan and South Korea for general anesthesia.

In addition, PAION markets two intensive care products in certain European countries: Angiotensin II (GIAPREZA®), vasoconstrictor indicated in the treatment of refractory hypotension in adults with septic shock or other distributive shock, and eravacycline (XERAVA®), a new fluorocycline antibiotic indicated for the treatment of complicated intra-abdominal infections in adults.

PAION’s mission is to be a leading specialty pharmaceutical company in the areas of anesthesia and critical care by bringing to market new products for the benefit of patients, physicians and other healthcare stakeholders.

PAION is headquartered in Aachen (Germany).

Contact
ralph penner
Vice President Investor Relations/Public Relations
PAION S.A.
Heussstrasse 25
52078 Aachen – Germany
Telephone +49 241 4453-152
Email [email protected]
www.paion.com

Disclaimer:
This press release contains certain forward-looking statements regarding the future activities of PAION AG. These forward-looking statements contained in this document are based on the current expectations, estimates and projections of the management of PAION AG as of the date of this press release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. If 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. Given the risks, uncertainties and other factors involved, recipients should not place unreasonable reliance on these forward-looking statements. PAION AG undertakes no obligation to update these forward-looking statements periodically to reflect future events or developments.


24.06.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Sara H. Byrd