PAION plans news composition of executive management
Dr. Mariola Söhngen will leave management board
PAION AG announced that Dr. Mariola Söhngen, Chief Medical Officer (CMO) and co-founder of the Company, has informed the Chairman of the Supervisory Board that she wants to leave the Management Board of the Company prior to the end of her current appointment until 31 December 2016 to pursue a new management opportunity at another company that is not competing with PIAON. The Supervisory Board has basically agreed with Mrs. Söhngen that she will resign from office as of 31 October 2015. The details of the termination agreement will be agreed between the Supervisory Board and Mrs Söhngen. Mrs. Söhngen will continue to provide her expertise as a consultant on request after her departure.
“With Remimazolam being destined for two potential filings in 2016 and 2017, the regulatory framework with the U.S. and European agencies has been successfully set up including the resulting trials. This allows me to transfer the responsibility for the execution of the program to our great team at PAION”, CMO Dr. Mariola Söhngen commented and added: “Especially the operational support of Remimazolam in the U.S. with regard to the potential self-commercialization will require more high-level management on site, while I would like to have broader management responsibilities. I am looking to the future commercialization of Remimazolam with optimism and will remain invested as a shareholder in PAION for which I have worked for many exciting years.”
In connection with the step-down of Mrs. Söhngen, the Supervisory Board decided to extend the appointment and contract of Mr. Söhngen as CEO of the Company by another year until end of 2018. In the interim, Mr. Söhngen will take over certain of Mrs. Söhngen’s functions until the appointment of a new CMO and thus will ensure a smooth transition.
Following the incorporation of PAION Inc. in the U.S. in 2014, the appointment of Mr. Greg Papaz as CEO and David Bernstein, M.D., as Medical Advisor, PAION intends to fill the position of a new CMO with a qualified medical and regulatory expert who also has operational management experience in the U.S. The CMO should also serve as the direct contact person for the U.S. study centers, contract research organizations, U.S. physicians and the U.S. Food and Drug Administration (FDA), to promote the further establishment of PAION Inc. as a U.S. based Specialty Pharma Company.
Furthermore, PAION AG plans to complete its Management Board byappointing a Chief Operating Officer (COO) with commercial expertise for Europe. The COO will be responsible for the establishment of an optimal commercial structure and to increase PAION’s interaction with anesthesia thought leaders.
Dr. Jörg Spiekerkötter, chairman of the supervisory board commented: “We would like to sincerely thank Mrs. Söhngen for the successful work and great commitment. However, Dr. Wolfgang Söhngen and CFO Abdelghani Omari ensure the necessary continuity; they have the profound knowledge that is required for the transition of PAION from a development company to a Specialty Pharma Company leading PAION to a prosperous future. The appointment of a COO for Europe with expertise in supply chain and sales is to strengthen the team as soon as possible. It is time to line-up the executive management of PAION for the future challenges.”
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