WilmerHale has advised PAION AG on a licensing agreement that was signed with Yichang Humanwell Pharmaceutical Co. Ltd, China, for Remimazolam, an innovative short-acting general anaesthetic/sedative. Under the terms of the agreement, Yichang receives an exclu-sive licence for the development, manufacture and commercialization of Remimazolam in the territory of the People’s Republic of China. PAION will receive a total of EUR 3 million in upfront payments, and could receive up to EUR 4 million in milestones. In addition, royalties of 10% have been agreed. The exact amount of future milestone payments eventually depends on Yichang’s development strategy for Remimazolam in China.
PAION AG is a biopharmaceutical company headquartered in Aachen. It is specialized in developing innovative drugs for the hospital-based treatment in indications for which there is a substantial unmet medical need.
The WilmerHale team counseling PAION on the agreement consisted of Dr. Rüdiger Herrmann, Alicia Hong, Jochen Eimer, Dr. Astrid Pönicke and Kenneth Zhou.