All amounts are in U.S. dollars
QUEBEC CITY, Feb. 28 /PRNewswire/
- Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the
"Company"), a late-stage drug development company specialized in
oncology and endocrinology, today announced that it had received a
net sales milestone of $2.5 million from Cowen Healthcare Royalty
Partners, L.P. ("Cowen Royalty"). This milestone was payable
pursuant to the previously announced sale to Cowen Royalty of Aeterna Zentaris' rights to
royalties on future net sales of
Cetrotide®, covered by the Company's
license agreement with Merck Serono, and was contingent on 2010 net
sales of Cetrotide® reaching a specified level.
Juergen Engel, Ph.D., President
and CEO of Aeterna Zentaris stated, "We are pleased to have reached
this $2.5 million milestone which
will be incremental to advance perifosine, AEZS-108 and other
innovative oncology compounds from our extensive product
pipeline."
About Cetrotide®
Cetrotide® was the first luteinizing
hormone-releasing hormone antagonist treatment approved for in
vitro fertilization. It is administered to women to prevent
premature ovulation in order to increase fertility success rate. It
was launched in Europe in 1999 and
in the United States in 2001.
Cetrotide® is currently marketed worldwide by Merck
Serono, except for Japan where it
is marketed by Nippon Kayaku and Shionogi.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a late-stage oncology drug development
company currently investigating potential treatments for various
cancers including colorectal, ovarian, endometrial cancer and
multiple myeloma. The Company's innovative approach of
"personalized medicine" means tailoring treatments to a patient's
specific condition and to unmet medical needs. Aeterna Zentaris'
deep pipeline is drawn from its proprietary discovery unit
providing the Company with constant and long-term access to
state-of-the-art therapeutic options. For more information please
visit www.aezsinc.com.
About Cowen Healthcare Royalty
Partners
Cowen Healthcare Royalty Partners is a global healthcare
investment firm with more than $1 billion under management. The Firm
invests principally in commercial-stage healthcare companies and
products through drug royalty acquisitions and structured
financings. Cowen Royalty's
investment team has over 100 years of healthcare related experience
including principal investing, structured finance, healthcare
industry senior management, Wall Street research and consulting,
and scientific and clinical experience. For more information, visit
www.cowenroyalty.com.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the safe harbour provisions of the U.S. Securities
Litigation Reform Act of 1995. 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 availability of funds and resources to pursue
R&D projects, the successful and timely completion of clinical
studies, the ability of the Company to take advantage of business
opportunities in the pharmaceutical industry, uncertainties related
to the regulatory process and general changes in economic
conditions. Investors should consult the Company's quarterly and
annual filings with the Canadian and U.S. securities commissions
for additional information on risks and uncertainties relating to
forward-looking statements. Investors are cautioned not to rely 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 any of the forward-looking statements contained
herein to reflect future results, events or developments, unless
required to do so by a governmental authority or by applicable
law.
SOURCE AETERNA ZENTARIS INC.
Copyright . 28 PR Newswire