Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the “Company”) today announced that it has filed a preliminary short form base shelf prospectus (the “Shelf Prospectus”) with the securities regulatory authorities in each of the provinces of Canada, and a corresponding shelf registration statement on Form F-10 with the U.S. Securities and Exchange Commission (the “SEC”) under the U.S./Canada Multijurisdictional Disclosure System.

The Shelf Prospectus and corresponding shelf registration statement, when made final or effective, will allow the Company to offer up to US$150,000,000 of common shares, preferred shares, debt securities, subscription receipts, warrants or units comprised of one or more of such securities during the period that the Shelf Prospectus is effective.

Commenting on the filing, David A. Dodd, Chairman, President and Chief Executive Officer of the Company stated, “The Shelf Prospectus is intended to give us the ability to access new capital in the future. Taking into account our current operations and capital requirements, the offering we completed earlier this month is expected to provide sufficient capital to see us through the first quarter of 2017. As such, we have no immediate intention to conduct another offering. Our existing shelf prospectus and registration statement will expire in April 2016 and we felt that it was prudent to file a new one to ensure that our ability to raise capital is not curtailed or interrupted after the current shelf expires.”

The specific terms of any future offering under the Shelf Prospectus will be established at the time of such offering. At the time any of the securities covered by the Shelf Prospectus are offered for sale, a prospectus supplement containing specific information about the terms of such offering will be filed with applicable Canadian securities regulatory authorities and the SEC.

Upon the issuance of a receipt by the Canadian securities regulatory authorities for the final Shelf Prospectus and the effectiveness of the corresponding registration statement on Form F-10 of which the Shelf Prospectus forms part, the final Shelf Prospectus will supersede and replace the Company’s existing short form base shelf prospectus dated March 13, 2014 and the corresponding registration statement.

The new shelf registration statement filed today with the SEC has not yet become effective. No securities may be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualifications under the securities laws of any such jurisdiction.

About Aeterna Zentaris

Aeterna Zentaris is a specialty biopharmaceutical company engaged in developing and commercializing novel treatments in oncology, endocrinology and women’s health. We are engaged in drug development activities and in the promotion of products for others. We are now conducting Phase 3 studies of two internally developed compounds. The focus of our business development efforts is the acquisition of licenses to products that are relevant to our therapeutic areas of focus. We also intend to license out certain commercial rights of internally developed products to licensees in territories where such out-licensing would enable us to ensure development, registration and launch of our product candidates. Our goal is to become a growth-oriented specialty biopharmaceutical company by pursuing successful development and commercialization of our product portfolio, achieving successful commercial presence and growth, while consistently delivering value to our shareholders, employees and the medical providers and patients who will benefit from our products. For more information, visit www.aezsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the US Securities Litigation Reform Act of 1995. Specifically, the statement that the Company believes that it has sufficient capital to fund its operations through the first quarter of 2017 is a forward-looking statement. Forward-looking statements involve known and unknown risks and uncertainties that could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the assumptions used in developing the Company’s forecasts of cash revenue and expenditures, the availability of funds and resources to pursue research and development projects and clinical trials, the successful and timely completion of clinical studies, the risk that safety and efficacy data from any of our Phase 3 trials may not coincide with the data analyses from previously reported Phase 1 and/or Phase 2 clinical trials, the ability of the Company to efficiently commercialize one or more of its products or product candidates, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process, the potential inability to protect our intellectual property, the potential of liability arising from shareholder lawsuits and general changes in economic conditions. Investors should consult the Company's quarterly and annual filings with the Canadian and US securities commissions for additional information on risks and uncertainties relating to forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to the forward-looking statement contained herein to reflect future results, events or developments, unless required to do so by a governmental authority or by applicable law.

Aeterna Zentaris Inc.Philip Theodore, 843-900-3223Senior Vice Presidentptheodore@aezsinc.com

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