DGAP-News: PAION AG / Key word(s): Change of Personnel PAION AG: NEW SUPERVISORY BOARD MEMBER APPOINTED 05.11.2012 / 15:27 --------------------------------------------------------------------- PAION AG: NEW SUPERVISORY BOARD MEMBER APPOINTED Dr Karin Dorrepaal succeeds Dr Harald F. Stock Aachen (Germany), 05 November 2012 - The biopharmaceutical company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange General Standard: PA8) announced today that the Court of Aachen followed an unanimous proposal by the Supervisory Board and Management Board of PAION to appoint Dr. Karin Dorrepaal to the Supervisory Board of PAION, effective as of 29 October 2012. Dr Karin Dorrepaal succeeds Dr Harald F. Stock who resigned from his position because of possible overlapping interests due to the current strategic transformation of PAION into a specialty pharmaceutical company in the anaesthesia field. Dr. Stock was Vice Chairman of the Supervisory Board of PAION AG since May 2011. Dr Karin Dorrepaal has broad experience in the Life Science Industry. Between 2004 and 2006, she was a member of the Management Board of Schering AG in Berlin. From 1990 to 2004 she worked as management consultant at Booz Allen & Hamilton in Amsterdam and New York. From 1985 until 1988 she was a Ph. D. Research Fellow at The Netherlands Cancer Institute in Amsterdam. 'We are delighted Dr Karin Dorrepaal, an recognized expert in the Life Science Industry, is joining us as a new member of the Supervisory Board ', said Dr. Jörg Spiekerkötter, Chairman of the Supervisory Board of PAION AG. He commented further: 'We would like to thank Dr Stock, who has provided a significant and valuable contribution to the successful strategic realignment of PAION.' Dr Stock, Chief Executive Officer of Grünenthal, said: 'I am pleased that I could contribute to PAION's strategic realignment, from a purely developmental company towards a specialized pharmaceutical company with focus on anaesthesia. Anaesthesia is a highly attractive market and I am convinced that PAION will be successful with their lead compound Remimazolam. Considering Grünenthal's leadership position in the innovative pain market sooner or later overlapping interests of both companies may become probably unavoidable. I am therefore delighted that with Karin Dorrepaal we have found an experienced executive as my replacement on the board. I sincerely wish PAION and Dr. Dorrepaal success for the future.' ### About PAION PAION is headquartered in Aachen, Germany and has a second site in Cambridge, UK. The company is specialised in developing innovative drugs for the hospital-based treatment in indications for which there is a substantial unmet medical need. PAION is extending its 'Search & Develop' business model, by transforming into a 'Specialty Pharma Company', with a focus on anaesthesia products. 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 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. End of Corporate News --------------------------------------------------------------------- 05.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and 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: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 191510 05.11.2012
DGAP-News: PAION AG: NEW SUPERVISORY BOARD MEMBER APPOINTED
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