Company to Receive $3.3 Million One-Time Payment
All amounts are in US dollars (unless otherwise mentioned)
QUÉBEC CITY, Oct. 1, 2013 /CNW Telbec/ - Aeterna Zentaris Inc. (NASDAQ:
AEZS) (TSX: AEZ) (the "Company") today announced the successful
completion of its previously announced agreements with various partners
and licensees with respect to the manufacturing rights and obligations
for its Cetrotide® product. The principal outcome of such agreements is the transfer of
manufacturing rights and the grant of a manufacturing license for
Cetrotide® to a subsidiary of Merck KGaA of Darmstadt, Germany ("Merck Serono"),
in all jurisdictions. Under the terms of these agreements, Aeterna
Zentaris will receive a one-time payment of €2.5 million, or
approximately $3.3 million. Cetrotide® (cetrorelix acetate for injection) is used to regulate hormone
responses in women undergoing infertility treatment. Merck Serono
currently markets Cetrotide® worldwide.
The Company had previously monetized the royalty stream related to
Cetrotide® in November 2008 in a transaction with HealthCare Royalty Partners L.P.
(formerly Cowen Healthcare Royalty Partners L.P.). With the transfer of
manufacturing rights to Merck Serono now completed, Aeterna Zentaris
remains focused on the development programs with zoptarelin doxorubicin
(AEZS-108) including its Phase 3 ZoptEC (Zoptarelin doxorubicin in Endometrial Cancer) trial and the Phase 2 trials in breast, prostate and bladder
cancer, its upcoming NDA filing for macimorelin acetate (AEZS-130) as
an oral diagnostic for growth hormone deficiency in adults, as well as
on the initiation of a Phase 1 clinical trial with AEZS-120, a novel
oral prostate cancer vaccine.
The use of the name "Merck" and "Merck Serono" in this press release
refers to Merck KGaA of Darmstadt, Germany. In North America, Merck
KGaA operates under the umbrella brand EMD.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company engaged in
developing novel treatments in oncology and endocrinology. The
Company's pipeline encompasses compounds from drug discovery to
regulatory approval. For more information, visit www.aezsinc.com.
This press release contains forward-looking statements made pursuant to
the safe harbour provisions of the U.S. Securities Litigation Reform
Act of 1995, including forward-looking statements relating to the
expected impact of the transfer of the listing of the Company's shares
on the NASDAQ Capital Market. Forward-looking statements involve known
and unknown risks and uncertainties that could cause the Company's
actual results to differ materially from those in the forward-looking
statements. Such risks and uncertainties include, among others, market
reaction to the transfer of the listing of the shares on the NASDAQ
Capital Market, the availability of funds and resources to pursue R&D
projects, the successful and timely completion of clinical studies, the
risk that safety and efficacy data from any of our Phase 3 trials may
not coincide with the data analyses from previously reported Phase 1
and/or Phase 2 clinical trials, 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
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 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. We disclaim any obligation to update any
such factors or to publicly announce the result of 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 by applicable law.
SOURCE: Aeterna Zentaris Inc.
For further information:
Ginette Beaudet Vallières
Investor Relations Coordinator
(418) 652-8525 ext. 265
Director of Communications
(418) 652-8525 ext. 406