Update: Looking ahead to a pivotal year
Paion is at an advanced stage of developing its ultrashort-acting sedative remimazolam for use in procedural sedation and general anaesthesia. Three Phase III studies are due to report results in 2016, ahead of potential filings in the US and Europe in 2017. A positive outcome from a pre-NDA meeting with Japanese regulators in Q116 could lead to a filing in Japan in H216. We raise our valuation modestly to €230m from €224m as these milestones approach.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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