Update: Extra four years US patent life a welcome boost
The patent term of Paion’s new US patent covering the crystalline form of remimazolam besylate has been extended by 4.3 years due to delays in the US patent office. This will extend US market exclusivity for the ultra short-acting anaesthetic to late 2031 vs our previous expectation of 2027, which leads us to increase our valuation to €203m from €182m. We look toward to the outcome of the pre-NDA meeting in Japan (Q116) and results from the US colonoscopy Phase III as potential near-term catalysts.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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