PAION AG acquires world-wide rights to anticoagulant flovagatran from UK company Trigen

Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this
announcement.
----------------------------------------------------------------------
--------------

Direct thrombin inhibitor further strengthens PAION's development
pipeline

Aachen (Germany), 23 April 2008 - PAION AG (Frankfurt Stock Exchange,
Prime Standard: PA8) today announced that it has acquired the
world-wide rights to flovagatran, a direct thrombin inhibitor, from
UK-based Trigen Limited for an upfront payment of approximately EUR
0.3 million. PAION will be required to make a milestone payment in
the event flovagatran receives regulatory approval or is licensed or
sold in a major market but will not be required to pay ongoing
royalties.

Flovagatran is a chemically synthesized anticoagulant for intravenous
administration. It directly blocks the activity of thrombin, thereby
preventing the formation of blood clots. The substance has been
tested in two small Phase IIa clinical trials for dialysis and
percutaneous transluminal coronary angioplasty (PTCA), which is one
of the most common procedures for opening damaged or obstructed
coronary arteries.

Wolfgang Söhngen, CEO of PAION AG commented: "Flovagatran nicely
complements our current portfolio in the area of antithrombotics. We
believe that it has potential as an anticoagulant for use in a
variety of hospital-based interventions. As an initial step, we
intend to conduct additional preclinical studies, on the basis of
which we will formulate a clinical development strategy for
flovagatran."

###

About PAION
PAION is a biopharmaceutical company specializing in developing and
commercializing innovative drugs for the treatment of thrombotic
diseases, that is, diseases caused by the obstruction of a blood
vessel by a blood clot. Currently, PAION's focus is on the causal
treatment of acute ischemic stroke. PAION intends to build and expand
its portfolio of drug candidates using a "search-and-development"
approach. Accordingly, PAION seeks to identify promising new
compounds, license or otherwise acquire them and advance them through
the clinical development and regulatory approval process. Where
appropriate, particularly during the late stages of the clinical
development and approval process and the commercialization phase,
PAION seeks to collaborate with experienced partners. At 31 December
2007, PAION had 53 full-time equivalent employees.

On 10 April 2008 PAION announced a recommended offer for the entire
issued and to be issued share capital of CeNeS Pharmaceuticals plc.
Therefore the Company is currently in an offer period as defined by
the Takeover Code of the UK Panel on Takeovers and Mergers. Because
of this, shareholders need to be aware of certain additional
reporting requirements regarding transactions in PAION shares. For
further information, please see the full text of the acquisition
announcement published on 10 April 2008 and the press release
explaining the additional reporting requirements published on 14
April 2008, both of which are available on PAION's website at
www.paion.de/investors.

Contact PAION
Dr. Peer Nils Schroeder
Head of Investor Relations / Public Relations PAION AG
Martinstrasse 10-12
52062 Aachen - Germany
Tel. +49 (0)241 4453-152
pn.schroeder@paion.de
www.paion.de

--- End of Message ---

PAION AG
Martinstrasse 10 - 12 Aachen Germany

WKN: A0B65S; ISIN:
DE000A0B65S3; Index: Prime All Share, CDAX;
Listed: Prime Standard in Frankfurter Wertpapierbörse, Amtlicher
Markt in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München, Freiverkehr in Börse
Stuttgart;