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AEterna Zentaris Reports First Quarter 2008 Financial and Operating Results

All amounts are in U.S. dollars

QUEBEC CITY, May 7 /PRNewswire-FirstCall/ - AEterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ), a global biopharmaceutical company focused on endocrinology and oncology, today reported financial and operating results for the first quarter ended March 31, 2008.

First Quarter 2008 Highlights

- Cetrorelix: first patients treated in second efficacy trial of the

Phase 3 program in benign prostatic hyperplasia (BPH);

- AEZS-108: first patients treated in Phase 2 trial in ovarian and

endometrial cancers;

- Miltefosine (Impavido(R)): rights sold to Paladin Labs Inc. (TSX:PLB)

for approximately $8.9 million.

Subsequent to First Quarter End

- Cetrorelix: recruitment of 600 patients completed for first efficacy

trial of the Phase 3 program in BPH;

- Juergen Ernst, AEterna Zentaris Chairman, appointed Interim President

and CEO, replacing David J. Mazzo. Departure of Ellen McDonald, Senior

Vice President, Business Operations and Chief Business Officer;

- Board member Jose P. Dorais appointed to the Corporate Governance,

Nominating and Human Resources Committee, replacing Mr. Juergen Ernst,

the Company's Chairman of the Board and Interim President and CEO, who

had previously stepped down from the committee in connection with his

appointment as Interim President and CEO.

Juergen Ernst, Chairman, Interim President and CEO at AEterna Zentaris commented, "During the quarter, we continued to move forward with our Phase 3 program in BPH with our lead compound cetrorelix, as we completed patient recruitment for our first efficacy trial in North America and started

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