PAION AG: Sale of the business operations

EQS-News: PAION AG

/ Key word(s): Miscellaneous

PAION AG: Sale of the business operations

22.12.2023 / 16:33 CET/CEST

The issuer is solely responsible for the content of this announcement.

PAION AG: Sale of the business operations

 

Aachen (Germany), 22 December 2023 – The Specialty Pharma Company PAION AG (ISIN DE000A3E5EG5; Frankfurt Stock Exchange, PA8) announces that PAION AG and its German subsidiary, PAION Deutschland GmbH, with the approval of the preliminary insolvency administrator of PAION AG and PAION Deutschland GmbH, attorney Dr. Mark Boddenberg, today concluded negotiations with HumanWell Healthcare Group (“Humanwell”) and entered into an agreement on the sale of the essential business operations of PAION AG and PAION Deutschland GmbH.

The M&A process (fire sale), in cooperation with the M&A consultancy Falkensteg (Düsseldorf) and the provisional insolvency administrator Dr. Mark Boddenberg (Eckert Rechtsanwälte), was successfully concluded as part of a bidding process.

The proceeds from the sale will go to the insolvency estates of the two companies. PAION AG and PAION GmbH will be wound up as part of the insolvency proceedings; shareholders of PAION AG are not expected to receive any payments.

Tilmann Bur, CEO of PAION AG, commented as follows: “It fills us with great satisfaction to know that the core of our company and its products are being placed in competent hands. This ensures that patients can continue to benefit from high-quality therapy options. We also owe this to the dedicated efforts of our employees and the cooperative support of our partners.

The provisional insolvency administrator, lawyer Dr. Mark Boddenberg, who was appointed by Aachen Local Court, added: “The sale will ensure that numerous jobs are preserved. I would like to thank everyone involved for their commitment and professional cooperation, without which this deal would not have been possible.

An exclusive remimazolam license agreement for the Chinese market had been in place between Humanwell, via its subsidiary Yichang Humanwell, and PAION since 2012. In 2022, an agreement on the assignment of patent rights was concluded with Humanwell. Under this agreement, PAION transferred all Chinese remimazolam patents and related future royalties for sales in China to Humanwell.

 

About Humanwell

Humanwell Healthcare (Group) Co. Ltd. is a leading listed Chinese pharmaceutical company mainly engaged in the development, manufacture and distribution of drugs in the fields of anesthesia and analgesics, gynecological diseases, central nervous system, dermatology and respiratory diseases as well as other drugs used in hospitals. Humanwell has more than 520 approved drugs worldwide and 350 drug candidates in the pipeline. In 2022, Humanwell generated sales of USD 3.4 billion and a net profit of USD 0.38 billion. Humanwell distributes its products mainly in China, Africa and the USA and exports its products to more than 50 countries.

 

PAION contact:

Ralf Penner

SVP Investor Relations & Corporate Communications

PAION AG

Heussstrasse 25

52078 Aachen – Germany

Phone +49 241 4453-152

E-mail r.penner@paion.com

www.paion.com

 

 


22.12.2023 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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