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AEterna Zentaris Reports Fourth Quarter and Full-Year 2008 Financial and Operating Results
Date:3/11/2009

hase 2 trial in advanced ovarian and endometrial cancers. - December - Sale of AEterna Zentaris rights to royalties on future sales of Cetrotide(R), covered by the Company's license agreement with Merck Serono, to Cowen Healthcare Royalty Partners L.P. ("Cowen") for gross consideration of $52.5 million. - Completion of patient recruitment for the safety trial of the Phase 3 program in BPH with cetrorelix. - Appointment of Matthias Seeber, MBA, as Company Senior Vice President, Administration and Legal Affairs. - Subsequent to year end - The Company entered into a development, commercialization and license agreement with sanofi-aventis for the development, registration and marketing of cetrorelix in BPH for the United States market. The agreement includes an initial upfront payment of $30 million and up to $135 million in additional payments upon achieving certain pre-established regulatory and commercial milestones, as well as escalating double-digit royalties on future net sales of cetrorelix for BPH in the United States.

Juergen Engel, Ph. D., AEterna Zentaris' President and Chief Executive Officer commented, "I am proud of our achievements of the past 12 months. At the financial level, we generated nearly $100 million in 2008 and in the first few months of 2009, through multiple non-dilutive transactions and a major pharmaceutical partnership with sanofi-aventis for our lead compound, cetrorelix. At the drug development level, we completed the recruitment of over 1,600 patients for our Phase 3 program in BPH with cetrorelix, according to schedule. We now look forward to disclosing results of this program throughout the second half of 2009. We also made significant progress with our lead oncology compound, AEZS-108, in endometrial and ovarian cancer with results expected by the end of this ye
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SOURCE AETERNA ZENTARIS INC.
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