PAION AG Announces Initiation Of U.S. Phase 3 Clinical Trial Of Remimazolam For Procedural Sedation During Colonoscopy

MAHWAH, N.J., March 31, 2015 /PRNewswire/ -- PAION, Inc., a wholly owned subsidiary of PAION AG, today announced the initiation of a U.S. Phase 3 clinical trial of Remimazolam, an ultra-short-acting sedative/anesthetic, for procedural sedation in patients undergoing colonoscopy.

During Phase 2 clinical trials, Remimazolam displayed faster onset of sedation and greater procedural success compared to midazolam. Remimazolam showed a benign safety profile and patients experienced rapid recovery from sedation including faster recovery of cognitive function as compared to midazolam. The initiation of the Phase 3 trial in patients undergoing colonoscopies marks the start of PAION's Phase 3 clinical program, which includes a second pivotal Phase 3 trial in patients undergoing bronchoscopies and a third smaller safety trial in high-risk patients undergoing colonoscopies. In parallel, PAION will conduct three Phase 1 studies.

Wolfgang Sohngen, M.D., Ph.D., chief executive officer of PAION AG, said: "The initiation of the Phase 3 trial in patients undergoing colonoscopy is an important milestone for PAION. We expect the current study to further confirm Phase 2 data that showed Remimazolam was safe and highly effective in providing procedural sedation. Midazolam has been selected as a comparator because PAION aims to get a label similar to Midazolam."

Greg Papaz, president and chief executive officer of PAION, Inc., added: "The change in the reimbursement of colonoscopies in the US underscores the medical need for an alternative sedation agent. We expect Remimazolam to compete with the safest prescribed sedatives and enable high-patient throughput with a fast onset/rapid recovery, a profile currently unmet in the anesthetic space."

This Phase 3 clinical trial is a prospective, double-blind, randomized, placebo and midazolam-controlled, U.S. multicenter study in 460 patients undergoing colonoscopies for diagnostic or therapeutic reasons. Patients will be randomized to receive Remimazolam, midazolam or placebo in addition to fentanyl to achieve moderate sedation. The primary objective of this study is to investigate the short-term sedation, and hence the success of a colonoscopy compared to placebo and midazolam. The primary endpoint is the successful completion of the colonoscopy procedure with no requirement for alternative sedative. The completion of patient recruitment is expected before the end of 2015.

About Remimazolam

Remimazolam is an innovative ultra-short-acting general sedative/anesthetic. As a result of its short duration of action and good controllability, it has a preferable efficacy and safety profile relative to other currently marketed anesthesia compounds. Remimazolam's rapid offset is a consequence of its metabolism by tissue esterase enzymes that are widely distributed throughout the body. Remimazolam has potential in three indications:

• Procedural sedation (Lead indication U.S.)
• General anesthesia (Lead indication EU, Japan)
• ICU sedation (Phase 2, Japan)

Remimazolam is available for licensing outside China, Russia (CIS) Turkey, MENA Region, South Korea and Canada, where the compound is partnered with Yichang Humanwell, R-Pharm, TR-Pharm, Hana Pharm and Pendopharm.

About PAION

PAION, Inc., based in Mahwah, N.J., is a wholly owned subsidiary of PAION AG, a publicly-listed Specialty Pharmaceutical Company headquartered in Aachen, Germany. PAION AG has an additional subsidiary based in Cambridge, UK, which is the sponsor of the U.S. Phase 3 colonoscopy trial. The company has a track record of developing hospital-based treatments for which there is substantial unmet medical need. PAION's strategy is to participate in the commercialization of Remimazolam and extend its business with a focus on anesthesia/critical care products. Remimazolam is the building block for its future marketing activities.

For more information please visit www.paion.com

PAION Corporate Contact 
Greg Papaz 
President and CEO 
PAION, Inc. 
201-512-8850 
g.papaz@paion.com

Media Contact 
Matt Middleman, M.D. 
Russo Partners 
(212) 845-4272 
matt.middleman@russopartnersllc.com

PAION AG Contact 
Ralf Penner 
Director Investor Relations / Public Relations 
PAION AG 
Martinstrasse 10-12 
52062 Aachen Germany 
Phone: +49 241 4453-152 
E-mail: r.penner@paion.com 
www.paion.com

Investor Relations Support in the US 
The Trout Group 
Thomas Hoffman 
+1 646 378 2931 Direct
thoffmann@troutgroup.com 
www.troutgroup.com

Disclaimer:

This release contains certain forward-looking statements concerning the future business of PAION, Inc. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION, Inc's management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from the Company's assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION, Inc. has no obligation to periodically update any such forward-looking statements to reflect future events or developments.

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SOURCE PAION, Inc.