Paion, Humanwell Healthcare Group deal

Paion granted Yichang Humanwell Pharmaceutical Co. Ltd., a part of Humanwell Healthcare Group, an exclusive option to negotiate a license to develop and commercialize Paion's remimazolam in China for an undisclosed option fee. If the option is exercised, Paion will receive €3 million ($3.9 million) up front, and would be eligible for additional undisclosed payments. Late last year, Paion said it would out-license the GABA A receptor modulator, which is in Phase IIb testing for sedation, as part of a restructuring (see BioCentury, Jan. 2 & March 19). ...