Update: Japanese setback; focus on EU and US
Paion’s Japanese partner, Ono, will return remimazolam rights due to strategic reasons and considering issues with pharmacokinetic features. While this is clearly a setback, Paion does not expect this to affect the approval process in the lead European and US indications of general anaesthesia and procedural sedation. Paion has received indications of interest from parties interested in licensing remimazolam in Japan and the transfer process has started. We maintain our valuation at €170m.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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