AEterna Zentaris and Paladin Labs Complete Sale and Purchase of Miltefosine Rights
April 01 2008 - 9:15AM
Marketwired
QUEBEC CITY, QUEBEC and MONTREAL, QUEBEC (NASDAQ: AEZS), a
global biopharmaceutical company focused on endocrine therapy and
oncology, and Paladin Labs Inc. (TSX: PLB), a leading Canadian
specialty pharmaceutical company, announced today that, on March
31, 2008, they completed the transactions under their previously
announced purchase and sale agreement with respect to all rights
related to the manufacture, production, distribution, marketing,
sale and/or use of miltefosine. The aggregate purchase price for
the transaction was Cdn$9.125 million payable in cash, subject to
certain post-closing purchase price adjustments.
About miltefosine
Miltefosine is a phosphocholine analogue currently marketed
under the brand name Impavido�, the first oral drug for the
treatment of visceral and cutaneous leishmaniasis. Impavido� has
been proven to be highly effective and less toxic than currently
available treatments. Other currently available treatments are
liposomal amphotericin (Ambisome�) and Paromomycin.
About leishmaniasis
Leishmaniasis is an infectious disease transmitted by the bite
of the phlebotomine sandfly. The cutaneous form of the disease
normally produces skin ulcers on the exposed parts of the body such
as the face, arms and legs. The visceral form - also known as kala
azar - is characterized by irregular bouts of fever, substantial
weight loss, swelling of the spleen and liver, and anemia
(occasionally serious).
According to the World Health Organization, the disease is
endemic in 88 countries with nearly 350 million people at risk. If
untreated, visceral leishmaniasis can result in death within 6
months to 2 years. There are more than one million new cases per
year of cutaneous leishmaniasis and an estimated prevalence of 12
million people already infected.
About AEterna Zentaris Inc.
AEterna Zentaris Inc. is a global biopharmaceutical company
focused on endocrine therapy and oncology with proven expertise in
drug discovery, development and commercialization.
News releases and additional information are available at
www.aezsinc.com.
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a
specialty pharmaceutical company focused on acquiring or
in-licensing innovative pharmaceutical products for the Canadian
market. With this strategy, a focused national sales team and
proven marketing expertise, Paladin has evolved into one of
Canada's leading specialty pharmaceutical companies. For more
information, please visit the Company's web site at
www.paladinlabs.com
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the U.S. Securities
Litigation Reform Act of 1995. Forward-looking statements, by their
nature, necessarily involve risks and uncertainties that could
cause actual results to differ materially from those contemplated
by the forward-looking statements. Both AEterna Zentaris and
Paladin Labs (collectively, the "Companies") consider the
assumptions on which these forward-looking statements are based to
be reasonable at the time they were prepared, but caution that
these assumptions regarding the future events, many of which are
beyond the control of the Companies and their subsidiaries, may
ultimately prove to be incorrect. Factors and risks, which could
cause actual results to differ materially from current
expectations, are discussed in the annual reports, as well as in
the Companies' Annual Information Forms for the year ended December
31, 2007. The Companies disclaim any intention or respective
obligation to update or revise any forward-looking statements
whether as a result of new information or future events, except as
required by law. For additional information on risks and
uncertainties relating to these forward-looking statements,
investors should consult the Companies' respective ongoing
quarterly filings, annual reports and Annual Information Forms and
other filings found on SEDAR at www.sedar.com.
Contacts: Paladin Labs: Samira Sakhia Chief Financial Officer
514-340-5067 514-344-4675 (FAX) info@paladin-labs.com AEterna
Zentaris: Jenene Thomas Senior Director, Investor Relations &
Corporate Communications 908-626-5509 jthomas@aezsinc.com Paul
Burroughs Media Relations 418-652-8525 ext. 406
pburroughs@aeszinc.com
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