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PAION AG, Aachen, has successfully concluded its IPO. The shares have been traded on the Frankfurt
stock exchange since 11.02.2005. Led by the Frankfurt partner Dr Andreas Zanner, CMS Hasche Sigle
advised the biotech company on the first IPO of the year in Germany which was simultaneously the
first IPO of a biotech company in Europe this year. Dr Andreas Zanner, expert in stock trading and
capital market law at CMS Hasche Sigle, described the IPO in light of the price-sensitive market
environment as a "successful new offering pointing the way for the entire IPO year 2005. The mood
on the German capital market is developing considerably better than a year ago."
All five million shares offered were placed (without additional allocation options of 750,000
shares). In addition to the consortium leader and bookrunner UBS Limited, the bank consortium
consists of Dresdner Kleinwort Wasserstein as co-lead manager and Landesbank Baden-Württemberg as
co-manager. The gross issue proceeds from the sale of the shares placed amounts to EUR 40m. If the
greenshoe option is fully exercised, the gross issue proceeds will increase to up to EUR 46m.
PAION AG, established in 2000, is considered to be one of the most promising growth companies
in the biopharmaceutical sector and is aiming for a lead position in the development and marketing
of pharmaceutical products for the treatment of strokes and other thrombotic diseases. PAION's most
developed pharmaceutical candidate by far, Desmoteplase (DSPA), recently concluded a second
clinical trial of phase II in the treatment of strokes and obtained fast-track status from the U.S.
Food and Drug Administration (FDA). The issue proceeds are to be used to spur on the development of
medication for the treatment of strokes.
Advisors PAION AG
Lead counsel
CMS Hasche Sigle
Dr Andreas Zanner, partner, Frankfurt (stock trading and capital market law)
Dr Martin Bell, partner, Frankfurt (corporate)
Katja Pohl, partner, Frankfurt (corporate)
Dr Jochen Schlotter, associate, Frankfurt (corporate)
Philipp Melzer, associate, Frankfurt (stock trading and capital market law)
Contact CMS Hasche Sigle:
Dr Andreas Zanner
Tel.: +49 (0) 69 / 71701-139
E-mail:
Andreas.Zanner@cms-hs.com
Background
CMS Hasche Sigle is one of the leading German law firms with more than 420 lawyers. It covers
the entire area of commercial law and provides legal advice to major German and international
companies from a wide spectrum of industry.
CMS Hasche Sigle operates at all the major business centres. It has offices in Berlin,
Cologne, Duesseldorf, Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz, Dresden, Brussels,
Belgrade, Moscow, Prague and Shanghai.
CMS Hasche Sigle is a partnership of lawyers and tax consultants; for register details / list
of partners see
www.cms-hs.com
.
CMS Hasche Sigle is a member of CMS, an alliance of leading European law firms. With over 575
partners, a total of 2,000 lawyers and tax consultants and around 3,800 support staff we advise our
clients in 24 countries in and outside Europe on legal and tax issues.
Local strength and legal tax advice tailored to the requirements of the market combined with
a substantial amount of business and organisational integration form the basis for high-quality
international legal advice.
In addition to CMS Hasche Sigle, the following firms are also members of the CMS alliance:
CMS Adonnino Ascoli & Cavasola Scamoni (Italy), CMS Albiñana & Suárez de Lezo (Spain), CMS
Bureau Francis Lefebvre (France), CMS Cameron McKenna (Great Britain), CMS DeBacker (Belgium), CMS
Derks Star Busmann (the Netherlands), CMS von Erlach Klainguti Stettler Wille (Switzerland) and CMS
Reich-Rohrwig Hainz (Austria). CMS has 57 offices in 24 countries in Western and Central
Europe, North and South America, Asia and North Africa.
For further information on CMS Hasche Sigle see
www.cms-hs.com
and on the CMS alliance see
www.cmslegal.com
.
