Company to Receive $3.3 Million
One-Time Payment
All amounts are in US dollars (unless otherwise
mentioned)
QUÉBEC CITY, Oct. 1, 2013
/PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ)
(the "Company") today announced the successful completion of
its previously announced agreements with various partners and
licensees with respect to the manufacturing rights and obligations
for its Cetrotide® product. The principal outcome of
such agreements is the transfer of manufacturing rights and the
grant of a manufacturing license for Cetrotide® to a
subsidiary of Merck KGaA of Darmstadt, Germany ("Merck Serono"), in all
jurisdictions. Under the terms of these agreements, Aeterna
Zentaris will receive a one-time payment of €2.5 million, or
approximately $3.3 million.
Cetrotide® (cetrorelix acetate for injection) is used to
regulate hormone responses in women undergoing infertility
treatment. Merck Serono currently markets Cetrotide®
worldwide.
The Company had previously monetized the royalty stream related
to Cetrotide® in November
2008 in a transaction with HealthCare Royalty Partners L.P.
(formerly Cowen Healthcare Royalty Partners L.P.). With the
transfer of manufacturing rights to Merck Serono now completed,
Aeterna Zentaris remains focused on the development programs with
zoptarelin doxorubicin (AEZS-108) including its Phase 3 ZoptEC
(Zoptarelin doxorubicin in Endometrial Cancer)
trial and the Phase 2 trials in breast, prostate and bladder
cancer, its upcoming NDA filing for macimorelin acetate (AEZS-130)
as an oral diagnostic for growth hormone deficiency in adults, as
well as on the initiation of a Phase 1 clinical trial with
AEZS-120, a novel oral prostate cancer vaccine.
The use of the name "Merck" and "Merck Serono" in this press
release refers to Merck KGaA of Darmstadt, Germany. In North
America, Merck KGaA operates under the umbrella brand
EMD.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company
engaged in developing novel treatments in oncology and
endocrinology. The Company's pipeline encompasses compounds from
drug discovery to regulatory approval. For more information, visit
www.aezsinc.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, including forward-looking statements
relating to the expected impact of the transfer of the listing of
the Company's shares on the NASDAQ Capital Market. 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, market reaction to the
transfer of the listing of the shares on the NASDAQ Capital Market,
the availability of funds and resources to pursue R&D projects,
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 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.