AEterna Zentaris and Paladin Labs Complete Sale and Purchase of Miltefosine Rights
April 01 2008 - 9:15AM
PR Newswire (US)
QUEBEC CITY and MONTREAL, April 1 /PRNewswire-FirstCall/ -- AEterna
Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ), a global biopharmaceutical
company focused on endocrine therapy and oncology, and Paladin Labs
Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical
company, announced today that, on March 31, 2008, they completed
the transactions under their previously announced purchase and sale
agreement with respect to all rights related to the manufacture,
production, distribution, marketing, sale and/or use of
miltefosine. The aggregate purchase price for the transaction was
Cdn$9.125 million payable in cash, subject to certain post-closing
purchase price adjustments. About miltefosine Miltefosine is a
phosphocholine analogue currently marketed under the brand name
Impavido(R), the first oral drug for the treatment of visceral and
cutaneous leishmaniasis. Impavido(R) has been proven to be highly
effective and less toxic than currently available treatments. Other
currently available treatments are liposomal amphotericin
(Ambisome(R)) and Paromomycin. About leishmaniasis Leishmaniasis is
an infectious disease transmitted by the bite of the phlebotomine
sandfly. The cutaneous form of the disease normally produces skin
ulcers on the exposed parts of the body such as the face, arms and
legs. The visceral form - also known as kala azar - is
characterized by irregular bouts of fever, substantial weight loss,
swelling of the spleen and liver, and anemia (occasionally
serious). According to the World Health Organization, the disease
is endemic in 88 countries with nearly 350 million people at risk.
If untreated, visceral leishmaniasis can result in death within 6
months to 2 years. There are more than one million new cases per
year of cutaneous leishmaniasis and an estimated prevalence of 12
million people already infected. About AEterna Zentaris Inc.
AEterna Zentaris Inc. is a global biopharmaceutical company focused
on endocrine therapy and oncology with proven expertise in drug
discovery, development and commercialization. News releases and
additional information are available at http://www.aezsinc.com/.
About Paladin Labs Inc. Paladin Labs Inc., headquartered in
Montreal, Canada, is a specialty pharmaceutical company focused on
acquiring or in-licensing innovative pharmaceutical products for
the Canadian market. With this strategy, a focused national sales
team and proven marketing expertise, Paladin has evolved into one
of Canada's leading specialty pharmaceutical companies. For more
information, please visit the Company's web site at
http://www.paladinlabs.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, by their nature, necessarily
involve risks and uncertainties that could cause actual results to
differ materially from those contemplated by the forward-looking
statements. Both AEterna Zentaris and Paladin Labs (collectively,
the "Companies") consider the assumptions on which these
forward-looking statements are based to be reasonable at the time
they were prepared, but caution that these assumptions regarding
the future events, many of which are beyond the control of the
Companies and their subsidiaries, may ultimately prove to be
incorrect. Factors and risks, which could cause actual results to
differ materially from current expectations, are discussed in the
annual reports, as well as in the Companies' Annual Information
Forms for the year ended December 31, 2007. The Companies disclaim
any intention or respective obligation to update or revise any
forward-looking statements whether as a result of new information
or future events, except as required by law. For additional
information on risks and uncertainties relating to these
forward-looking statements, investors should consult the Companies'
respective ongoing quarterly filings, annual reports and Annual
Information Forms and other filings found on SEDAR at
http://www.sedar.com/. DATASOURCE: AETERNA ZENTARIS INC. CONTACT:
Paladin Labs: Samira Sakhia, Chief Financial Officer, (514)
340-5067, (514) 344-4675 (FAX), ; AEterna Zentaris: Jenene Thomas,
Senior Director, Investor Relations & Corporate Communications,
(908) 626-5509, ; Paul Burroughs, Media Relations, (418) 652-8525
ext. 406,
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