AEterna Zentaris Grants its Subsidiary Atrium Biotechnologies Marketing Rights for Neovastat
December 22 2004 - 5:58PM
PR Newswire (US)
AEterna Zentaris Grants its Subsidiary Atrium Biotechnologies
Marketing Rights for Neovastat QUEBEC CITY, Dec. 22
/PRNewswire-FirstCall/ -- AEterna Zentaris Inc. (TSX: AEZ; Nasdaq:
AEZS) today announced an agreement with its subsidiary Atrium
Biotechologies Inc., whereby AEterna Zentaris will increase its
stake in Atrium from 60.2% to 61.1% upon transfer of rights to
Atrium's Health and Nutrition division, excluding North America, to
market and distribute its antiangiogenic product Neovastat(R).
"This agreement was signed following a thorough evaluation of
different business opportunities for Neovastat(R). It fits into our
strategic plan aimed at optimizing the full potential of our
products and maximizing value for our shareholders," stated Gilles
Gagnon, President and Chief Executive Officer at AEterna Zentaris.
"With their expertise and strong proven track record in their field
of activity, Atrium Biotechnologies becomes a partner of choice",
he added. According to Luc Dupont, Atrium's President and Chief
Executive Officer, "This transaction will enrich Atrium's pipeline
with an innovative compound. This development is especially timely
in light of an increased demand from healthcare professionals for
safe and effective alternatives. We believe that Atrium, through
its Health and Nutrition division, is in a good position to
successfully sell this product." Further to this agreement,
existing marketing partnerships for Neovastat(R) with Grupo Ferrer,
LG Life Sciences and Mayne Pharma remain valid and will be managed
by Atrium. However, the existing partnership between Medac GmbH and
AEterna Zentaris has been terminated following a mutual agreement.
The US NCI is currently conducting a Phase III trial with
Neovastat(R) as a first line therapy in combination with standard
chemotherapy and radiotherapy for non-small cell lung cancer. 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, renewable 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. AEterna Zentaris also owns 61.1% of
Atrium Biotechnologies Inc., an international company that
develops, manufactures and markets added-value active ingredients
and specialty chemicals for the cosmetics, chemical, pharmaceutical
and nutritional industries, as well as health and nutrition
products. 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
- office, (418) 573-8982 - mobile, ; Investor Relations: Jacques
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