Overview
Frankfurt, May 5, 2022 – International law firm McDermott Will & Emery has advised PAION AG on a license agreement with Cristália Produtos Quimicos Farmaceuticos Ltda, Brazil. PAION grants Cristália an exclusive license for the development and commercialisation of Remimazolam in Latin America.
PAION will receive a EUR 3.5 million upfront payment and is also entitled to receive a milestone payment of EUR 1 million for an NDA (New Drug Application) submission in the territory (Latin America) and an annual payment of EUR 0.5 million for each year of market exclusivity from the launch of the product. Cristália will pay PAION 20% royalties on net sales. Cristália plan to manufacture the drug in their own plant to supply the licensed territory.
McDermott Will & Emery previously advised PAION in 2021 on the granting of exclusive licensing rights for the development and marketing of Remimazolam in Taiwan, and in 2022 on the conclusion of a distribution agreement with a distributor for the marketing of Angiotensin II, Eravacycline and Remimazolam in various CEE markets.
PAION AG was advised by Monika Emilia Richter.
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