PAI Paion

    Miscellaneous: PAION AG: New Supervisory Board Member Appointed
             



Alan Goodman succeeds Prof Dr Erich Schlick

Aachen (Germany), 31 July 2008 - The biopharmaceutical company PAION
AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange, Prime Standard: PA8,
London AIM: PAI) today announces that the Court of Aachen followed an
unanimous proposal by the Supervisory Board and Management Board of
PAION to appoint Alan Goodman, CEO of Avlar BioVentures, to the
Supervisory Board of PAION until the next General Meeting and
effective as of 31 July 2008. Alan Goodman succeeds Prof Dr Erich
Schlick who due to his responsibilities as a General Partner at a
venture capital company with a growing portfolio resigned from his
position effective as of 30 July 2008.

Alan Goodman was a chartered management accountant for many years and
is the founder of a number of biotech companies including CeNeS
pharmaceuticals plc which was acquired by PAION in June 2008. He is
also founder of Avlar BioVentures, a venture capital fund that
invests in early stage life science companies. Through the fund he
was invested in CeNeS Pharmaceuticals plc, as was his private
investment vehicle ATM Investments Ltd. In addition, he was also a
private investor in CeNeS Pharmaceuticals plc. As a consequence, he
is a direct and indirect investor in PAION, too. At the time of the
acquisition, he was Chairman of CeNeS Pharmaceuticals plc.

Dr Walter Wenninger, Chairman of PAION AG's Supervisory Board
commented: "Alan Goodman is recognized as a leading biotechnology
entrepreneur and has been a long-term supporter of former CeNeS. We
are very pleased that he was now appointed to the Supervisory Board
of PAION. We would also like to thank Prof Schlick who has made
important contributions to the development of PAION based on his
expertise in drug development as well as in financing."

Prof Schlick supported PAION since 2003, first as a member of the
Advisory Board and later as a member of the Supervisory Board. He is
a General Partner in the life science team of Wellington Partners
Venture Capital GmbH, Munich, Germany.

###

About PAION
PAION  is  a  biopharmaceutical  company  headquartered  in   Aachen,
Germany. Since the  acquisition of CeNeS  Pharmaceuticals, which  was
completed in June 2008, the company  has a second site in  Cambridge,
UK. The  company is  specializing in  developing and  commercializing
innovative drugs for the hospital-based treatment of central  nervous
system  (CNS)  disorders   and  thrombotic/cardiovascular   diseases,
indications for  which there  is a  substantial unmet  medical  need.
PAION intends to further expand its portfolio of drugs by  exploiting
its core expertise in identifying high-potential compounds, licensing
or otherwise acquiring them and  advancing 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.

Contact
Dr. Peer Nils Schr�der, Corporate Communications & Investor Relations
PAION AG
Martinstrasse 10-12
52062 Aachen - Germany
Phone +49 241 4453-152
E-mail pn.schroeder@paion.de
www.paion.de

Landsbanki Securities (UK) Limited
Nomad and broker
Shaun Dobson/Claes Sp�ng
Phone +44 20 7426 9000

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http://hugin.info/139525/R/1239414/265487.pdf

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