Paion

What Paion does

PAION AG was a German specialty biopharmaceutical company founded in 2000 in Aachen, focused on developing and commercializing intravenous, ultra-short-acting benzodiazepine sedative/anesthetic compounds for hospital-based sedation, anesthesia and critical care. Its lead asset is Byfavo® (remimazolam), approved across seven major jurisdictions (U.S., EU/EEA/UK, China, Japan, South Korea, Philippines) for procedural sedation and/or general anesthesia; two further marketed products, GIAPREZA (angiotensin II) and XERAVA (eravacycline), were in-licensed from La Jolla in 2021 for European distribution.

The company monetizes Byfavo® through direct commercialization in selected European markets and through licensing royalties from regional partners covering the rest of the world, and markets GIAPREZA/XERAVA in selected European countries under the La Jolla license. Distribution has been built via a 'string of pearls' partner model: Viatris (Europe), Cosmo (U.S.), Mundipharma (Japan), Yichang Humanwell (China) and Cristalia (Latin America). Following liquidity problems surfaced in late 2023, PAION AG filed for insolvency in January 2024 and transferred its operating business to a newly created PAION Pharma GmbH, a wholly-owned subsidiary of China's Humanwell Healthcare Group, on February 24, 2024; PAION AG i.L. is being wound up and shareholders are not expected to receive insolvency-distribution payments.

Name

Paion

Legal name

PAION AG

Website

https://paion.com

Company type

Public

Founded year

2000

Operating status

Closed

Headcount range

11–50 employees

Short description

PAION is a German specialty biopharmaceutical company developing and commercializing ultra-short-acting benzodiazepine sedatives (Byfavo®/remimazolam) and in-licensed intensive-care products (GIAPREZA, XERAVA) for hospital-based anesthesia and critical care; its operating business was acquired by China's Humanwell Healthcare Group in February 2024 following insolvency of the listed parent.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals (Sedation, Anesthesia and Critical Care)

akta.pro primary industry

Primary Care & General Medicine Pharmaceuticals (HLAIAAAA)

Keywords

• Specialty pharmaceuticals
• Procedural sedation drugs
• General anesthesia products
• Critical care therapeutics
• Benzodiazepine sedatives

Headquarters

HQ city

Aachen

HQ country

Germany

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain

Revenue model

1. Product Sales (Byfavo®): Direct commercialization of Byfavo® (remimazolam) in selected European markets through PAION's own sales efforts.
2. Licensing Royalties: Byfavo® is partnered in multiple territories outside of Europe through licensing agreements, generating royalty revenues from licensee sales.
3. Intensive Care Product Licensing: Marketing of GIAPREZA (angiotensin II) and XERAVA (eravacycline) in selected European countries through licensing agreement with La Jolla.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

PAION is a specialty biopharmaceutical company that develops, registers, and commercializes intravenous hospital-based drugs for sedation, anesthesia and critical care. Its lead product Byfavo (remimazolam) is an ultra-short-acting benzodiazepine sedative/anesthetic approved in the U.S., EU/EEA/UK, China, Japan, South Korea, and the Philippines. The company also markets GIAPREZA (angiotensin II) for refractory hypotension and XERAVA (eravacycline) for complicated intra-abdominal infections in selected European countries under a licensing agreement with La Jolla.

Product overview

PAION AG i.L. was a specialty pharmaceutical company with a portfolio of three marketed pharmaceutical products. The core product was Byfavo® (remimazolam), an intravenous ultra-short-acting benzodiazepine sedative/anesthetic for procedural sedation and general anesthesia. The company also marketed two intensive care products: GIAPREZA (Angiotensin II), a vasoconstrictor for refractory hypotension, and XERAVA (eravacycline), a novel fluorocycline antibiotic for complicated intra-abdominal infections. As of January 2024, insolvency proceedings were opened and the operating business was transferred to PAION Pharma GmbH as a subsidiary of Humanwell Healthcare Group.

Differentiator

Problem solved

Functional benefit

Brands

• Byfavo®: Brand name for Remimazolam, an intravenous, ultra-short-acting and controllable benzodiazepine sedative/anesthetic for procedural sedation and general anesthesia.
• GIAPREZA™
• XERAVA™

Products and services

• Byfavo (remimazolam) Intravenous ultra-short-acting and controllable benzodiazepine sedative/anesthetic for procedural sedation and general anesthesia; approved in the U.S., EU/EEA/UK, China, Japan, South Korea and the Philippines. Marketed to hospital-based anesthesiologists, sedation teams and procedural units.
• GIAPREZA (angiotensin II) Vasoconstrictor (angiotensin II) indicated for the treatment of refractory hypotension in adults with septic or other distributive shock; marketed in selected European countries under license from La Jolla Pharmaceutical Company for use in intensive care settings.
• XERAVA (eravacycline) Novel fluorocycline antibiotic (eravacycline) indicated for the treatment of complicated intra-abdominal infections in adults; marketed in selected European countries under license from La Jolla Pharmaceutical Company for hospital use.

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Nine partnerships are on record, tiered core, regional and minor.

• ViatriscoreChannel Partner/ Reseller/ Distributor · 1 January 2022Distribution partnership with Viatris for Europe covering the commercialization and distribution of PAION's products, announced as part of PAION's European market expansion strategy.
• CristaliaregionalChannel Partner/ Reseller/ Distributor · 1 January 2022Partnership with Cristalia for Latin America covering commercialization of PAION's products in the region.
• Humanwell Healthcare GroupcoreChannel Partner/ Reseller/ Distributor · 1 January 2022Agreement on assignment of patent rights in 2022 transferred all Chinese remimazolam patents and related future royalties to Humanwell. Humanwell had held an exclusive remimazolam license for the Chinese market since 2012 via subsidiary Yichang Humanwell. In 2023-2024, Humanwell acquired PAION's business operations through insolvency proceedings.
• La JollacoreChannel Partner/ Reseller/ Distributor · 1 January 2021Licensing agreement with La Jolla for GIAPREZA™ (angiotensin II) and XERAVA™ (eravacycline) in Europe, added to PAION's portfolio at the beginning of 2021.
• MundipharmaregionalChannel Partner/ Reseller/ Distributor · 1 January 2018Mundipharma filed for remimazolam approval in general anesthesia in Japan in 2018.
• Cosmo PharmaceuticalscoreChannel Partner/ Reseller/ Distributor · 1 January 2016Cosmo became the U.S. partner for Remimazolam development and commercialization in 2016. Cosmo submitted the new drug application for remimazolam in the U.S. in 2019.
• Yichang HumanwellregionalChannel Partner/ Reseller/ Distributor · 1 January 2012Exclusive remimazolam license agreement for Chinese market since 2012. Filed for procedural sedation approval in China in 2018.
• LundbeckminorChannel Partner/ Reseller/ Distributor · 1 January 2012Sale of all Desmoteplase rights to Lundbeck for EUR 20 million in 2012, allowing PAION to accelerate Remimazolam development.
• Forest Inc.minorChannel Partner/ Reseller/ Distributor · 1 January 2004Agreement with Forest Inc. for Desmoteplase in North American markets (2004).

Scale indicators10 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Mundipharma: PAION's licensee for Byfavo in Japan; a specialty pharma partner operating in the same remimazolam/sedation category with similar partner-distribution economics.
• La Jolla Pharmaceutical Company (Innoviva): Originator/licensor of GIAPREZA and XERAVA marketed by PAION in Europe; an ICU hospital specialty pharma peer sharing PAION's product overlap in refractory hypotension and intra-abdominal infections.
• Pacira BioSciences: Specialty pharmaceutical company focused on non-opioid hospital-based therapies including anesthesia adjacents (e.g., Exparel), targeting the same hospital buyer base with differentiated pharmacology for procedural care.
• Yichang Humanwell: Long-standing exclusive licensee for Byfavo in China and core channel partner driving Chinese royalty revenue; comparable as the China commercialization vehicle for PAION's lead asset.
• Cosmo Pharmaceuticals: PAION's U.S. development and commercialization partner for Byfavo (remimazolam) and direct licensee; comparable as a specialty pharma company commercializing the same compound in the same hospital procedural sedation market.

Broad incumbents

• Viatris: European distribution partner for Byfavo and a broad specialty/generic pharma incumbent; overlapping commercial infrastructure in European hospital channels relevant to PAION's go-to-market.
• Hikma Pharmaceuticals: Specialty/injectable pharma company with a hospital salesforce comparable to PAION's chosen model; addresses the same hospital anesthesia/ICU buyers across multiple geographies.

Emerging players

• Acacia Pharma Group: Hospital-focused specialty pharma commercializing products for procedural/post-operative care settings; overlaps with PAION's hospital specialty strategy and ICU/procedural buyer segments.
• Eagle Pharmaceuticals (Acrotech Biopharma): Specialty pharma developing and commercializing differentiated injectable hospital products, addressing overlapping anesthesia/critical care buyer call points and comparable in-licensing and partner-driven model.

Regional players

• Cristalia: PAION's LatAm distribution partner for Byfavo and a regional specialty pharma in Brazil; relevant comparable for LatAm commercialization of the same compound.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/paion-ag
• Xx.com/paionag

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds9 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paion