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PAION AG / Key word(s): Regulatory Approval

27-March-2021 / 13:43 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


- Byfavo(R) is a rapid onset/offset intravenous benzodiazepine sedative for use during medical procedures such as colonoscopy and bronchoscopy

- PAION is preparing to launch Byfavo(R) and two additional critical care and specialty hospital products in selected European markets in the second half of 2021

Aachen (Germany), 27 March 2021 - The specialty pharma company PAION AG (PA8; ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard) today announces that the European Commission (EC) has approved Byfavo(R) (remimazolam) in adults for procedural sedation. Byfavo(R) is an ultra-short-acting intravenous benzodiazepine sedative/anesthetic.

End of inside information


Information and Explanation of the Issuer to this News:

Remimazolam is also in development for general anesthesia. Based on the positive results in the European Phase III trial in this indication, PAION plans to submit an extension variation to the Marketing Authorization for remimazolam for general anesthesia by the end of 2021. The approval process for an extension variation is generally faster than for a Marketing Authorization Application (MAA).

Dr. Jim Phillips, CEO of PAION AG, commented: 'We are excited that the European Commission has approved Byfavo(R), and thank all healthcare professionals, patients and partners who have been involved in the development of remimazolam. This approval marks one of the most important steps in PAION's transformation into a specialty pharmaceutical company bringing novel anesthesia and critical care products to hospitals. With our recently acquired products GIAPREZA(R) and XERAVA(R), we are looking forward to launching three products in a staggered approach in selected European countries starting in the second half of 2021. We currently estimate annual peak sales potential of approximately EUR 50 million to EUR 60 million in procedural sedation in Europe.'

Professor James East, Consultant Gastroenterologist and Endoscopist, John Radcliffe Hospital, Oxford, UK commented: 'The approval of BYFAVO(R) is exciting for proceduralists as the field has not seen a new sedation medications added to our armamentarium in a decade. The drug performed well in clinical trials delivering an efficient sedation process from start to finish. The safety profile was encouraging, including in patients with severe systemic diseases, and the overall patient journey was optimized due to the rapid onset/offset of the sedative effect.'

The MAA included the data from a comprehensive U.S. Phase III clinical program in procedural sedation in patients undergoing bronchoscopy or colonoscopy. The safety and efficacy of Byfavo(R) was evaluated in three pivotal studies in 984 patients undergoing colonoscopy (two studies) or bronchoscopy (one study), of whom 639 received Byfavo(R). In these studies, the most common adverse reactions (incidence greater than 10%) following administration of Byfavo(R) were hypotension, hypertension, diastolic hypertension, systolic hypertension, hypoxia, and diastolic hypotension.

About remimazolam
Remimazolam is an ultra-short-acting intravenous benzodiazepine sedative/anesthetic. In the human body, remimazolam is rapidly metabolized to an inactive metabolite by tissue esterases and is not metabolized by cytochrome-dependent hepatic pathways. Like other benzodiazepines, remimazolam can be reversed with flumazenil to rapidly terminate sedation or anesthesia if necessary. Data demonstrate that remimazolam has a rapid onset and offset of action combined with a favorable cardio-respiratory safety profile.

Remimazolam is approved in the U.S., the EU/EEA and China for procedural sedation and in Japan and South Korea for general anesthesia.

For more information on the safety of Byfavo(R) (remimazolam), please refer to the EMA Summary of Product Characteristics (SmPC) and will be accessible via in the near future.

In addition to procedural sedation and general anesthesia, intensive care unit (ICU) sedation is under evaluation for remimazolam.

Remimazolam is partnered in the U.S. (brand name BYFAVOTM) with Acacia Pharma, in Japan (brand name Anerem(R)) with Mundipharma, in China (brand name Ruima(R)) with Yichang Humanwell, in Canada with Pharmascience, in Russia/CIS, Turkey and the MENA region with R-Pharm, in South Korea (brand name BYFAVOTM) and Southeast Asia with Hana Pharm and in Taiwan with TTY Biopharm. For all other markets except Western Europe, remimazolam is available for licensing.

PAION AG is a publicly listed specialty pharmaceutical company with innovative drugs to be used in hospital-based sedation, anesthesia and critical care services. PAION's lead compound is remimazolam, an intravenous, ultra-short-acting and controllable benzodiazepine sedative/anesthetic. Remimazolam is partnered in multiple territories outside of Europe. Remimazolam is approved in, the U.S., the EU/EEA and China for procedural sedation and in Japan and South Korea for general anesthesia.

In addition to Byfavo(R) (remimazolam), PAION is preparing to launch the two products GIAPREZA(R) (Angiotensin II) and XERAVA(R) (Eravacycline) in Europe. GIAPREZA(R) is a vasoconstrictor indicated for the treatment of refractory hypotension in adults with septic or other distributive shock who remain hypotensive despite adequate volume restitution and application of catecholamines and other available vasopressor therapies. XERAVA(R) is a novel fluorocycline indicated for the treatment of complicated intra-abdominal infections in adults.

PAION's mission is to be a leading specialty pharmaceutical company in the fields of anesthesia and critical care by bringing novel products to market to benefit patients, doctors and other stakeholders in healthcare.

PAION is headquartered in Aachen (Germany) with an additional site in Cambridge (United Kingdom).

Ralf Penner
Vice President Investor Relations/Public Relations
Heussstraße 25
52078 Aachen - Germany
Phone +49 241 4453-152

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' 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 PAION'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 such forward-looking statements to reflect future events or developments.

27-March-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: PAION AG
Heussstraße 25
52078 Aachen
Phone: +49 (0)241-4453-0
Fax: +49 (0)241-4453-100
ISIN: DE000A0B65S3
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1179135

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Last Updated: 27-Mar-2021