PAION AG announces change in Management Board

EQS-News: PAION AG / Key word(s): Personnel
PAION AG announces change in Management Board
30.11.2022 / 17:28 CET/CEST
The issuer is solely responsible for the content of this announcement.

PAION AG announces change in Management Board

• Chairman of the Executive Board Dr. James Phillips leaves the company effective 30 November 2022
• Current Supervisory Board member Gregor Siebert will be appointed as a member and new Chairman of the Management Board until 30 November 2023

Aachen (Germany), 30 November 2022 - PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8), a specialty pharmaceutical company with innovative compounds for use in outpatient and in-hospital sedation, anaesthesia and intensive care medicine, informs about changes in the company's Management Board and Supervisory Board. Dr. James Phillips leaves PAION AG as of 30 November 2022 by mutual agreement with the company.

Furthermore, Mr Gregor Siebert, currently a member of the Supervisory Board, will be appointed by the Supervisory Board of PAION AG as a member of the Management Board and Chairman of the Management Board pursuant to section 105 (2) of the German Stock Corporation Act (AktG) for a period from 1 December 2022 until 30 November 2023 to succeed Dr. Phillips. 

Michael Schlenk, Chairman of the Supervisory Board, comments: “On behalf of the Supervisory Board, I would like to thank Mr. Phillips for his great commitment and wish him all the best in his new challenges. At the same time, we wish Mr. Siebert every success in his role as CEO and Chairman of the Management Board. His background positions him excellently for this new role. Mr Siebert has shown in his tenure on our Supervisory Board his leadership skills leading the commercial committee and already getting involved in partner negotiations.”

Gregor Siebert comments: “It is a great honour and pleasure for me taking over the role of CEO in this transition phase for Paion. In my induction phase, I have worked with Paion employees and believe we have great talent to be driving towards a new future for the company with its product portfolio in a mature business with Byfavo as a first innovation since a long time”.

Gregor Siebert has been a member of the Supervisory Board of PAION AG since May 2022. He started his career in the pharmaceutical industry in 1985 with a focus on commercialisation and marketing in the hospital and injectables business. For more than 30 years he held sales and marketing management positions at Abbott, Hikma, Pfizer, GL-Pharma and Curasan. In his almost 20 years with Abbott, he launched several important pharmaceutical products for anaesthesia and sedation in Germany and other European markets. His expertise lies in the development and implementation of targeted marketing and sales strategies for the hospital and injectable markets with a focus on anesthesia and infection control. Gregor Siebert studied agricultural science (Dipl. Ing. agr.) at the University of Bonn.

About PAION

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

In addition, PAION markets two intensive care products in selected European countries: Angiotensin II (GIAPREZA®), a vasoconstrictor indicated for the treatment of refractory hypotension in adults with septic or other distributive shock, and eravacycline (XERAVA®), a novel fluorocycline type of 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 fields of anaesthesia and critical care by bringing novel products to market to benefit patients, doctors, and other stakeholders in healthcare.

PAION is headquartered in Aachen (Germany).

PAION contact:

Investor Relations
cometis AG
Thorben Burbach
Tel.: +49 (0) 611 205855 23
Email: burbach@cometis.de
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.

30.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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