AEterna Zentaris Subsidiary Atrium Biotechnologies Acquires Canadian Business Multichem
January 25 2005 - 7:30AM
PR Newswire (US)
AEterna Zentaris Subsidiary Atrium Biotechnologies Acquires
Canadian Business Multichem All amounts are in Canadian dollars
QUEBEC CITY, Jan. 25 /PRNewswire-FirstCall/ -- AEterna Zentaris
Inc. (TSX: AEZ; Nasdaq: AEZS) today announced the closing of the
acquisition of all Multichem assets by its subsidiary Atrium
Biotechnologies Inc., for the total amount of 23.8 million dollars
of which 22.2 million dollars were paid in cash at the closing.
This acquisition was financed through Atrium's working capital, as
well as from a new banking credit facility. Multichem is a
privately-held Canadian company specialized in the marketing of
active ingredients and specialty chemicals. "The Multichem
acquisition allows us to significantly increase our presence on the
North American market in the active ingredients and specialty
chemicals sector", said Luc Dupont, President and Chief Executive
Officer of Atrium. "Furthermore, it is part of our growth strategy
aimed at positioning Atrium among the leaders at the international
level, in both our activity sectors which are Active Ingredients
& Specialty Chemicals, as well as Health & Nutrition."
Gilles Gagnon, President and Chief Executive Officer at AEterna
Zentaris added, "Atrium has again demonstrated its ability to make
accretive strategic acquisitions that contribute to the global
growth of AEterna Zentaris." About Multichem Founded in 1985,
Multichem is a privately-held Canadian company specialized in the
marketing of active ingredients and specialty chemicals. It has a
portfolio of over 400 products sold to more than 500 customers in
Canada and the North Eastern United States through its offices in
the Montreal and Toronto regions. For the fiscal year ended August
31, 2004, Multichem sales exceeded 60 million dollars. About Atrium
Biotechnologies Atrium Biotechnologies Inc., a 61.1% owned
subsidiary of AEterna Zentaris, is an international company that
develops, manufactures and markets value-added products and
solutions for the cosmetics, pharmaceutical, chemical and
nutritional industries. Atrium focuses mainly on growing segments
of the health and personal care markets which are benefiting from
the trends toward healthy living and the ageing of the population.
About AEterna Zentaris Inc. AEterna Zentaris Inc. is an oncology
and endocrine therapy focused biopharmaceutical company with proven
expertise in drug discovery, development and commercialization. The
Company's broad 20 product pipeline leverages five different
therapeutic approaches, including LHRH antagonists and signal
transduction inhibitors. The lead LHRH antagonist compound,
cetrorelix, is currently marketed for in vitro fertilization under
the brand name Cetrotide(R), and has successfully completed a broad
Phase II program in endometriosis and benign prostatic hyperplasia
(BPH). The lead signal transduction inhibitor compound, perifosine,
is an orally-active AKT inhibitor that is in several Phase II
trials for multiple cancers. News releases and additional
information about AEterna Zentaris are available on its new Web
site http://www.aeternazentaris.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 involve
known and unknown risks and uncertainties, which 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
the 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. DATASOURCE: AETERNA
ZENTARIS INC. (FORMERLY/ANCIENNEMENT - LES LABORATOIRES AETERNA
CONTACT: Media Relations, Paul Burroughs, (418) 652-8525, ext. 406,
; Investor Relations, Ginette Vallieres, (418) 652-8525, ext. 265,
; Europe, Dr. Matthias Seeber, +49-6942602-3425, ; To request a
free copy of this organization's annual report, please go to
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