Paion AG (PA8), a German drugmaker whose shares have more than doubled this year, may enter further partnerships to sell its Remimazolam sedative, Chief Executive Officer Wolfgang Soehngen said.
“We’re in talks, and are increasingly seeing more interested parties,” Soehngen said in an interview yesterday. “We don’t expect to reach a deal this year.”
A partnership would expand Remimazolam’s potential reach beyond the countries in which Paion already has agreements for the experimental product. The Aachen-based company’s stock has risen about 75 percent since announced licensing deals last week with R-Pharm in Russia and Hana Pharm Co. in South Korea.
The sedative is partnered in China with Humanwell Healthcare Group (600079) Co. “These deals allow us to benchmark the value of any future agreements,” Soehngen said.
Paion rose 5.6 percent to close at 1.995 euros in Frankfurt, giving the company a market value of 50.6 million euros ($67.8 million).
The stock has risen 139 percent this year. It pared gains yesterday after Paion said it lost 3.5 million euros in the first nine months of the year, compared with a 15.8 million euro profit a year earlier, when the company benefited from the sale of the Desmotoplase drug to H. Lundbeck A/S for 20.1 million euros.
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