Aeterna Zentaris Announces Strategic Review and Engagement of Financial Advisor
March 12 2019 - 4:32PM
Aeterna Zentaris Inc. (NASDAQ:AEZS) (TSX:
AEZS) announced today that its board of directors has
formed a special committee of independent directors (the “Special
Committee”) to review strategic options available to Aeterna
Zentaris.
The Special Committee has approved the engagement by the Company
of Torreya, a global investment bank specializing in life sciences,
as its financial advisor. Torreya is working with management
to assist the Special Committee and the board of directors in
considering a wide range of transactions (including opportunities
for the license of macimorelin outside of the United States and
Canada, other monetization transactions relating to macimorelin or
the potential sale of the company) which may create value for the
company, its shareholders and other stakeholders.
There is no defined timeline for the strategic review. The
review of strategic alternatives may result in a variety of
outcomes or no outcome and there can be no assurance that Aeterna
Zentaris will pursue or execute any specific action or transaction.
Aeterna Zentaris currently does not intend to make any
further announcements or comments regarding its review of strategic
alternatives unless required by law.
About Aeterna Zentaris Inc.
Aeterna Zentaris Inc. is a specialty biopharmaceutical company
focused on commercializing novel pharmaceutical therapies,
principally through out-licensing arrangements. Aeterna
Zentaris is a party to a license and assignment agreement with a
subsidiary of Novo Nordisk A/S to carry out development,
manufacturing, registration and commercialization of Macrilen™
(macimorelin) in the United States and Canada. For more
information, visit www.zentaris.com.
Forward-Looking Statements
This press release contains forward-looking statements (as
defined by applicable securities legislation) made pursuant to the
safe-harbor provision of the U.S. Securities Litigation Reform Act
of 1995, which reflect our current expectations regarding future
events. Forward-looking statements may include, but are not
limited to statements preceded by, followed by, or that include the
words "will," "expects," "believes," "intends," "would," "could,"
"may," "anticipates," and similar terms that relate to future
events, performance, or our results. Forward-looking statements
involve known and unknown risks and uncertainties, including those
discussed in this press release and in our Annual Report on Form
20-F, under the caption "Key Information - Risk Factors" filed with
the relevant Canadian securities regulatory authorities in lieu of
an annual information form and with the U.S. Securities and
Exchange Commission. Known and unknown risks and uncertainties
could cause our actual results to differ materially from those in
forward-looking statements. Such risks and uncertainties
include, among others, our now heavy dependence on the success of
Macrilen™ (macimorelin) and related out-licensing arrangements and
the continued availability of funds and resources to successfully
launch the product, our strategic review process, the ability of
the Special Committee to carry out its mandate, the ability of
Aeterna Zentaris to enter into out-licensing, development,
manufacturing and marketing and distribution agreements with other
pharmaceutical companies and keep such agreements in effect,
reliance on third parties for the manufacturing and
commercialization of our product candidates, potential disputes
with third parties, leading to delays in or termination of the
manufacturing, development, out-licensing or commercialization of
our product candidates, or resulting in significant litigation or
arbitration, and, more generally, uncertainties related to the
regulatory process, our ability to efficiently commercialize
or out-license Macrilen™ (macimorelin), the degree of market
acceptance of Macrilen™ (macimorelin), our ability to obtain
necessary approvals from the relevant regulatory authorities to
enable us to use the desired brand names for our products, the
impact of securities class action litigation or other litigation on
our cash flow, results of operations and financial position, our
ability to take advantage of business opportunities in the
pharmaceutical industry, our ability to protect our intellectual
property, the potential of liability arising from shareholder
lawsuits and general changes in economic conditions.
Investors should consult our quarterly and annual filings
with the Canadian and U.S. securities commissions for additional
information on risks and uncertainties. Given these
uncertainties and risk factors, readers are cautioned not to place
undue reliance on these forward-looking statements. We disclaim any
obligation to update any such factors or to publicly announce 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 applicable law.
Contact:
Michael V. WardChief Executive OfficerAeterna Zentaris
Inc.IR@aezsinc.com 843-900-3201
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