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AEterna Zentaris Reports Fourth Quarter and Full-Year 2008 Financial and Operating Results

All amounts are in U.S. dollars

QUEBEC CITY, March 11 /PRNewswire-FirstCall/ - AEterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ) ("the Company"), a global biopharmaceutical company focused on endocrinology and oncology, today reported financial and operating results for the fourth quarter and the full year ended December 31, 2008.

    2008 Highlights

    - February

      - First patients treated with AEZS-108 for a Phase 2 trial in advanced
        ovarian and endometrial cancers.

    - March

      - Patient dosing commenced with cetrorelix in the second efficacy study
        of the Phase 3 program in benign prostatic hyperplasia ("BPH").
      - Completion of the sale to Paladin Labs of the marketed product,
        Impavido(R) (miltefosine), for approximately $9.2 million.

    - April

      - Appointment of Juergen Ernst, as Interim President and CEO, the
        Company's Chairman of the Board at the time, following the departure
        of our former President and CEO;
      - Completion of patient recruitment for the first efficacy study of the
        Phase 3 program in BPH with cetrorelix.

    - May

      - First patients treated with cetrorelix for the safety trial of the
        Phase 3 program in BPH.

    - June

      - Completion of the sale of the Company's Quebec City property for a
        purchase price of $7.1 million.

    - September

      - Appointment of Juergen Engel, Ph.D., as Company President and CEO,
        succeeding Juergen Ernst who, at the same time, was appointed as
        Executive Chairman of the Company.

    - October and November

      - Completion of patient recruitment for the second efficacy trial of
        the Phase 3 program with cetrorelix in BPH.

      - Initiation of the second stage of patient recruitment for AEZS-108
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