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Back PAION and Lundbeck have expanded
 

Paion agreement with Lundbeck comes into force, securing future desmoteplase development and 8 Million Euro upfront-payment to Paion

- Positive outcome of final IP due diligence by Lundbeck
- Expanded licensing agreement now fully valid
- PAION to receive EUR 8 million non-refundable upfront payment
- Desmoteplase development will be continued with initiation of new
  Phase III study anticipated for second half of 2008
- Impressive turnaround for PAION


Aachen (Germany), 29 January 2008 - PAION AG (Frankfurt Stock Exchange,
Prime Standard: PA8) today announced that the expanded licensing
agreement with H. Lundbeck A/S regarding the compound Desmoteplase has
now come into force without any condition after Lundbeck's positive
completion of its IP due diligence. As a result, PAION will receive an nonrefundable
upfront payment amounting to EUR 8 million which is due within
the first quarter of 2008.

More at www.paion.de