Date: 2015-07-07
Type of information: Resignation
Compound:
Company: Paion (Germany)
Therapeutic area:
Type agreement: resignation
Action mechanism:
Disease:
Details: * On July 7, 2015, Paion announced that Dr. Mariola Söhngen, Chief Medical Officer (CMO) and cofounderof the Company, has informed the Chairman of the Supervisory Board that she wants to leave the Management Board of the Companyprior 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 Paion. Today 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.
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.
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 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 by appointing 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.
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