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PRESS RELEASE: PAION AG RAISES EUR 8.0 MILLION IN PRIVATE PLACEMENT

| Quelle: Dow Jones Newswire Web
Dow Jones received a payment from EQS/DGAP to publish this press release.

===


DGAP-News: PAION AG / Key word(s): Capital Increase
PAION AG RAISES EUR 8.0 MILLION IN PRIVATE PLACEMENT

2017-07-17 / 18:49
The issuer is solely responsible for the content of this announcement.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE
UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE
WOULD BE UNLAWFUL.

*PRESS RELEASE*

*PAION AG RAISES EUR 8.0 MILLION IN PRIVATE PLACEMENT*

- A U.S.-American institutional investor invests EUR 5.2 million; potential
further subscription of up to 2.8 million new shares until 30 April 2018

- PAION's second largest shareholder TIAA-Cref invests EUR 2.8 million

- Proceeds for PAION of approx. EUR 8.0 million

Aachen (Germany), 17 July 2017 - The Specialty Pharma Company PAION AG (ISIN
DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) today announces
that the Company will issue a total of 2,824,515 new shares in a private
placement under exclusion of subscription rights of the shareholders. The
shares will be placed with two U.S. institutional investors at a price of
EUR 2.8444 per share. The offer price corresponds to the volume-weighted
average Xetra price on 14 July 2017 minus a discount of 5%.

Gross proceeds amount to approximately EUR 8.0 million. A U.S. investor will
invest EUR 5.2 million and TIAA-Cref will invest EUR 2.8 million.

The U.S. investor may subscribe for further up to 2.8 million new shares
until 30 April 2018 in a maximum of two tranches. In case the U.S. investor
has not subscribed to a minimum of 0.9 million new shares until 30 April
2018, PAION can request that this minimum investment is to be made by the
U.S. investor under certain conditions. The offer price will correspond to a
volume-weighted average Xetra price at or around that time minus a 5%
discount.

The proceeds from the current private placement of EUR 8.0 million will
further improve PAION's financial position and will be used mainly to
accelerate the preparation of the remimazolam EU Phase III development
program in general anesthesia.

The offering in the first step consists of almost 5% of PAION's current
registered share capital and will increase the total number of issued
shares. The new shares will be admitted to trading on the regulated market
of the Frankfurt Stock Exchange.

The transaction is being handled by Dero Bank AG and was supported by Trout
Capital LLC.

PAION's CEO Dr. Wolfgang Soehngen commented: "_We are highly pleased about
the successful placement which allows us to accelerate the preparation of
the remimazolam EU Phase III development program in general anesthesia. I
would like to thank both the U.S. investor and TIAA-Cref who have supported
and continue to support us as investors_._"_

Abdelghani Omari, Chief Financial Officer of PAION AG, added: "_We are
delighted about the support by these two sophisticated healthcare investors.
Today's transaction enables us to further strengthen the financial position
of PAION_."

###

*About PAION*
PAION AG is a publicly listed specialty pharmaceutical company developing
and aiming to commercialize innovative drugs to be used in out-patient and
hospital-based sedation, anesthesia and critical care services. PAION's lead
compound is remimazolam, an intravenous, ultra-short-acting and controllable
benzodiazepine sedative/anesthetic drug candidate which is in the final
stage of clinical development for use in procedural sedation in the U.S.
Currently, PAION is mainly focusing its business and financial resources on
successfully completing its ongoing clinical development program in
procedural sedation. Outside the U.S., PAION has so far focused on the
development of remimazolam in the indication general anesthesia. A full
clinical development program for general anesthesia was completed in Japan
and PAION is preparing filing in Japan. In the EU, PAION is currently
planning to continue the clinical development program. Development of
remimazolam in the indication intensive care unit (ICU) sedation is also
part of the longer term life-cycle plan for remimazolam.

PAION is headquartered in Aachen (Germany) with a further site in Cambridge
(United Kingdom).

PAION's vision is to become an acknowledged "PAIONeer" in sedation and
anesthesia.

*Contact*
Ralf Penner
Vice President 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 [1]

Disclaimer:

This release contains certain forward-looking statements concerning the
future business of PAION AG. These forward-looking statements contained
herein are based on the current expectations, estimates and projections of
PAION AG'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 AG has no obligation to periodically update any such
forward-looking statements to reflect future events or developments.

2017-07-17 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: PAION AG
Martinstr. 10-12
52062 Aachen
Germany
Phone: +49 (0)241-4453-0
Fax: +49 (0)241-4453-100
E-mail: info@paion.com
Internet: www.paion.com
ISIN: DE000A0B65S3
WKN: A0B65S
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange

End of News DGAP News Service

593405 2017-07-17


1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=b8ce21268ab28fa427586a590b57eefb&application_id=593405&site_id=vwd&application_name=news

===
(END) Dow Jones Newswires

July 17, 2017 12:49 ET (16:49 GMT)

PAION O.N

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