PAION Initiates Programme of Next Generation Plasminogen Activators

PAION announced that it has initiated early-stage developmentactivities for a series of plasminogen activators and analogues thatmake use of the exciting pre-clinical findings of Desmoteplase. Theseinclude the highest currently known fibrin specificity. Patents forthis new generation of plasminogen activators and proteases have beenfiled and the lead protein has shown promising fibrinolytic activityin in vitro tests. PAION expects that the lead will be tested for lackof neurotoxicity during 2006.

For the work necessary to start proof-of-concept studies, PAIONcan rely on key experimental set-ups that have been established fortesting Desmoteplase. The 2006 plan includes small-scale productionand selected in vitro and in vivo studies. PAION anticipates to decideby the end of 2006, which member of this promising new class of drugsqualifies for advanced preclinical testing and human studies: thecurrent lead compound or another related protein. Key selectioncriteria will include fibrin specificity and other parametersimportant for stroke.

"We are extremely excited about the potential of the PN-10programme, which will allow us to use what we have learned from theDesmoteplase programme. Proteases seem to be important in severaldisease states - a field that is just beginning to be unravelled.PAION has built an attractive, wholly-owned IP position around thispromising project that demonstrates its leadership in this area" saysPAION's CMO Mariola Soehngen. "Desmoteplase is our key value driverand it is only natural that we do everything we can to enlarge thepotential of this molecule and establish a platform with our own IParound it" adds CEO Wolfgang Soehngen.

About PAION

PAION is a listed biopharmaceutical company based in Aachen,Germany (Frankfurt Stock Exchange, Prime Standard, ISIN DE000A0B65S3).It aims to become a leader in developing and marketing innovativedrugs for the treatment of stroke and other thrombotic diseases forwhich there is a substantial unmet medical need. PAION intends tobuild an integrated portfolio of drugs by exploiting its coreexpertise in identifying compounds, licensing or otherwise acquiringthese compounds and advancing them through the clinical developmentand regulatory approval process. Where appropriate, PAION seeks tocollaborate with experienced partners, particularly in the late stagesof clinical development, the approval process and marketing. PAION'smost advanced drug candidate, Desmoteplase, a novel plasminogenactivator for the treatment of acute ischaemic stroke is partneredwith Forest Laboratories, Inc. and H. Lundbeck A/S and currently beingtested in an international multi-centred Phase III study. At year-end2005 PAION employed on average 72 people.