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AEterna Zentaris Reports Third Quarter 2008 Financial and Operating Results
Date:11/13/2008

ntaris signed a definitive agreement to sell to Cowen Healthcare Royalty Partners, L.P. ("CHRP") its rights to royalties on future sales of Cetrotide(R) covered by its license agreement with Merck Serono. The license agreement between AEterna Zentaris and Merck Serono was signed in 2000 and granted Merck Serono exclusive rights to market, distribute and sell Cetrotide worldwide, with the exception of Japan, in the field of in vitro fertilization. On closing, AEterna Zentaris will receive $52.5 million from CHRP. In addition, contingent on 2010 net sales of Cetrotide(R) reaching a specified level, AEterna Zentaris would receive an additional payment of $2.5 million from CHRP.

Under the terms of the agreement, if cetrorelix which is currently in Phase 3 clinical trials for the treatment of benign prostatic hyperplasia, is approved for sale by the European regulatory authorities in an indication other than in vitro fertilization, AEterna Zentaris has agreed to make a one-time cash payment to CHRP for an amount ranging from $5 million up to a maximum of $15 million. The amount which would be due to CHRP will be higher the earlier the product receives European regulatory approval.

"We are very pleased with the Cowen Healthcare Royalty Partners transaction for Cetrotide(R) which is in line with our strategy of generating non-dilutive financing. With this transaction, we strengthened our financial position to focus on the development of cetrorelix in BPH, while pursuing partnership opportunities for its future commercialization," said Juergen Engel, Ph.D., President and Chief Executive Officer of AEterna Zentaris. "At the drug development level, both our Phase 3 program in BPH with cetrorelix, and our Phase 2 program with our lead oncology compound, AEZS-108 in ovarian and endometrial cancer, met their recruitment goals as scheduled and remain on track. First results for cetrorelix in BPH are still expected in the third quarter of 2009, while those for AEZS-1
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SOURCE AETERNA ZENTARIS INC.
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Related biology technology :

1. AEterna Zentaris to Announce Third Quarter 2008 Financial and Operating Results on November 13, 2008
2. AEterna Zentaris Agrees to Sell Cetrotide(R) Royalty Stream for $52.5 Million to Cowen Healthcare Royalty Partners
3. AEterna Zentaris Reaches 2nd Stage of Patient Recruitment for Phase 2 Trial in Endometrial Cancer with the Innovative LHRH Receptor Targeted Conjugate, AEZS-108
4. AEterna Zentaris to Present at Upcoming Oppenheimer 19th Annual Healthcare Conference
5. AEterna Zentaris Receives Notification from Nasdaq Relating to Minimum Bid Price
6. AEterna Zentaris Completes Patient Recruitment for Second Efficacy Trial of its Phase 3 Program with Cetrorelix in Benign Prostatic Hyperplasia
7. AEterna Zentaris to Present at BioContact Quebec on October 2, 2008
8. AEterna Zentaris to Present at Upcoming CIBC World Markets 7th Annual Eastern Investor Conference
9. AEterna Zentaris Reports Second Quarter 2008 Financial and Operating Results
10. AEterna Zentaris Announces Appointment of Prof. Jurgen Engel, Ph.D. as New President and CEO
11. AEterna Zentaris to Announce Second Quarter 2008 Financial and Operating Results on August 12, 2008
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