Outlook: A pivotal year
Paion is forging ahead with the development of fast-acting sedative remimazolam, having reported promising European Phase II results in general anaesthesia. The very good safety profile of the product, superior efficacy over standard of care, and its controllability are key features that could differentiate it from approved generic alternatives. Paion is in the process of raising c €46m to fund pivotal trials in the US and Europe. Our pre-money valuation is €143m, vs €120m, rising to €185m post-funding.Paion is a holding company. Through its subsidiaries, Co. is a biopharmaceutical company focusing on developing and commercializing drugs to be used in out-patient and hospital-based anesthesia, sedation and critical care services. Co.'s key compound is Remimazolam, an intravenous ultra short-acting and controllable anesthetic/sedative drug candidate in advanced stages of development for use in procedural sedation and general anesthesia.
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