AEterna Zentaris Holds Annual Shareholders' Meeting
May 26 2005 - 12:01PM
PR Newswire (US)
AEterna Zentaris Holds Annual Shareholders' Meeting MONTREAL, QC,
May 26 /PRNewswire-FirstCall/ -- AEterna Zentaris Inc. (TSX: AEZ,
NASDAQ: AEZS) held its Annual Shareholders' Meeting earlier today
at the Ritz- Carlton Hotel in Montreal. Gilles Gagnon, President
and Chief Executive Officer of AEterna Zentaris, along with other
company officials, discussed achievements for 2004 and year-to-date
and also gave an outlook for the coming months. "2004 was a year of
solid growth and development for our Company," said Gilles Gagnon.
"The year clearly demonstrated the established worth and steadily
growing potential of our pipeline, thereby gradually building value
for the Company and its shareholders. We made important
advancements at every stage of the process that characterizes
success in the biopharmaceutical industry: in the laboratory,
clinical testing, alliance-making, acquisitions and above all, in
accessing the marketplace. Over the next twelve months, we will
aggressively pursue our growth strategy in order to attain our
long-term goal of making AEterna Zentaris, a fully-integrated
biopharmaceutical company with its own sales force in oncology,"
added Mr. Gagnon. Prof. Jurgen Engel, Executive Vice President,
Global R&D and Chief Operating Officer of AEterna Zentaris,
further commented that in 2004, the Company focused its efforts on
the advancement of its clinical pipeline, with particular emphasis
on cetrorelix and perifosine. "Following the successful completion
of a broad Phase II program with cetrorelix, we are very
appreciative of the commitment and substantial financial support
that our partners are providing to the strategic late-stage
development program of this product in endometriosis and in benign
prostate hyperplasia. The development program of perifosine is also
making great strides as demonstrated by the recent initiation of
two Phase II trials in breast cancer by our North American partner,
Keryx Biopharmaceuticals, who also reported encouraging interim
data of a Phase II trial in prostate cancer last week. Furthermore,
we will initiate our own additional Phase II trials with perifosine
in combination with radiotherapy for multiple forms of cancer in
the upcoming months. With an exciting R&D portfolio on hand, we
remain committed to generating sustainable shareholder value
through the preclinical and clinical advancement of our drug
candidates," concluded Prof. Engel. Financial Position "Our
financial position remains strong with $66.5 million in
consolidated cash and short-term investments, of which $50 million
are dedicated to the aggressive pursuit of our biopharmaceutical
activities in collaboration with our partners," commented Dennis
Turpin, Vice President and Chief Financial Officer at AEterna. "Our
subsidiary, Atrium, which recently completed a successful initial
public offering, is a strategic asset for our Company as we now
have a 50.3%-stake in Atrium whose market capitalization reaches
nearly $300 million." SHAREHOLDERS MEETING HIGHLIGHTS 2004 and
Year-to-Date Achievements - Marketed Products Impavido(R)
(miltefosine) - Received additional marketing approval in Colombia
and Germany - Clinical Development Cetrorelix - Successful
completion of a 7 Phase II trial program in gynaecology and urology
- Commitment by Solvay, Shionogi and Nippon Kayaku to fully
complete the late-stage development program in endometriosis and
benign prostate hyperplasia (BPH) Perifosine - Phase II results in
multiple forms of cancer - Recent initiation by Keryx of Phase II
trials in breast cancer D-63153 - Progressed to Phase II trial for
prostate cancer and BPH Teverelix - Phase II trial results in
prostate cancer - Initiation of Phase II trial in BPH AN-152 -
Progressed to Phase I trial in breast, ovarian and endometrium
cancer EP-1572 - Phase I results - Progressed to Phase I trial in
growth hormone related disease - Subsidiary Atrium - Sales of $177M
and operating income of $26.1M in 2004 - Strategic acquisitions
Pure Encapsulations Inc. (United States) MultiChem (Canada) -
Successful IPO in April 2005 / TSX: ATB.sv Outlook 2005 The
Company's specific goals for 2005 include: - Marketed Products
Impavido(R) - Obtain additional marketing approvals - Clinical
Development Cetrorelix - Pursue full development program in
endometriosis with Solvay, as well as in BPH with Shionogi and
Nippon Kayaku Perifosine - Initiate Phase II trials in combination
with radiotherapy and/or chemotherapy D-63153 - Initiate Phase II
trial program in prostate cancer and BPH with Spectrum -
Preclinical Development Advance one or more preclinical products
into clinical development stage 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 six 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). Cetrorelix is also
in late-stage clinical development for endometriosis and benign
prostate 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. AEterna Zentaris owns
50.3% of Atrium Biotechnologies Inc. (TSX: ATB.sv), a leading
developer, manufacturer and marketer of value-added products for
the cosmetics, pharmaceutical, chemical and nutritional industries.
News releases and additional information about AEterna Zentaris are
available on its 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: Matthias Seeber, +49-6942602-3425, ; To request a free copy
of this organization's annual report, please go to
http://www.newswire.ca/ and click on reports@cnw.
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