Navigation Links
AEterna Zentaris and Paladin Labs Announce Sale and Purchase of Miltefosine Rights
Date:3/3/2008

QUEBEC CITY and MONTREAL, March 3 /PRNewswire-FirstCall/ - AEterna Zentaris Inc. (NASDAQ: AEZS;TSX: AEZ), a global biopharmaceutical company focused on endocrine therapy and oncology, and Paladin Labs Inc. (TSX: PLB), a leading Canadian specialty pharmaceutical company, announced today that they have entered into a definitive purchase and sale agreement with respect to all rights related to the manufacture, production, distribution, marketing, sale and/or use of miltefosine for an aggregate purchase price of Cdn$9.125 million payable in cash, subject to certain post-closing purchase price adjustments. Miltefosine, sold under the brand name Impavido(R) throughout the world, recorded revenues of Euro 2.5 million in 2007. Completion of the transactions contemplated by the purchase agreement is subject to customary closing conditions, including the parties having received certain third-party consents and approvals.

David J. Mazzo, Ph.D., President and CEO of AEterna Zentaris commented, "Last fall, we put forth our new focused business strategy which included identifying non-core assets and actively seeking to divest them as a way to infuse non-dilutive funds into the Company. We are very pleased to have entered into an agreement for the sale of the compound, miltefosine, and look forward to consummating the deal in the near future."

"This transaction marks the first time that Paladin has acquired international rights to a patented, medically important product", said Jonathan Ross Goodman, President and CEO of Paladin Labs. "This transaction is expected to be immediately accretive to earnings and it fits within our broader strategy to grow Paladin's revenues beyond the Canadian border."

About miltefosine

Miltefosine is a phosphocholine analogue currently marketed under the brand name Impavido(R), the first oral drug for the treatment of visceral and cutaneous leishmaniasis. Impavido(R) has been proven to be highly effective and less toxic than current therapies. Other current available treatments are liposomal amphotericin (Ambisome(R)) and Paromomycin.

About leishmaniasis

Leishmaniasis is an infectious disease transmitted by the bite of the phlebotomine sandfly. The cutaneous form of the disease normally produces skin ulcers on the exposed parts of the body such as the face, arms and legs. The visceral form - also known as kala azar - is characterized by irregular bouts of fever, substantial weight loss, swelling of the spleen and liver, and anemia (occasionally serious).

According to the World Health Organization, the disease is endemic in 88 countries with nearly 350 million people at risk. If untreated, visceral leishmaniasis can result in death within 6 months to 2 years. There are more than one million new cases per year of cutaneous leishmaniasis and an estimated prevalence of 12 million people already infected.

About AEterna Zentaris Inc.

AEterna Zentaris Inc. is a global biopharmaceutical company focused on endocrine therapy and oncology with proven expertise in drug discovery, development and commercialization. News releases and additional information are available at http://www.aezsinc.com

About Paladin Labs Inc.

Paladin Labs Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada's leading specialty pharmaceutical companies. For more information, please visit the Company's web site at http://www.paladinlabs.com

These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Both AEterna Zentaris and Paladin Labs "The Companies" consider the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but caution that these assumptions regarding the future events, many of which are beyond the control of the Companies and their subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual reports, as well as in the Companies' Annual Information Forms for the year ended December 31, 2006. The Companies disclaim any intention or respective obligation to update or revise any forward-looking statements whether a result of new information, future events, or except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Companies' respective ongoing quarterly filings, annual reports and Annual Information Forms and other filings found on SEDAR at http://www.sedar.com.


'/>"/>
SOURCE AETERNA ZENTARIS INC.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. AEterna Zentaris Announces the Departure of SVP, Administrative and Legal Affairs
2. Aeterna Zentaris to Announce Fourth Quarter and Full-Year 2007 Financial and Operating Results on March 5, 2008
3. AEterna Zentaris to Present at the Upcoming Roth Capital Partners 20th Annual OC Growth Stock Conference in Dana Point, California
4. AEterna Zentaris Reports First Patients Treated with Anti-Cancer Compound AEZS-108 in Phase 2 Trial in Ovarian and Endometrial Cancers
5. AEterna Zentaris to Further Develop Three Follow-up Multi-targeted Cytotoxic Candidates to AEZS-112 as Potential Novel Cancer Treatment
6. AEterna Zentaris Announces Outcome of Managements Strategic Review
7. AEterna Zentaris to Present at Upcoming UBS Global Life Sciences Conference in New York
8. AEterna Zentaris completes management team with the appointment of Chief Medical Officer
9. BioWa Announces Expansion of License Agreement with Genentech for BioWas POTELLIGENT(R) Technology
10. DW Healthcare Partners Announces the Sale of Tandem Labs
11. MiddleBrook Pharmaceuticals to Announce Fourth Quarter and Full Year 2007 Financial Results on March 4, 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... June 23, 2016 , ... UAS LifeSciences, one ... of their brand, UP4™ Probiotics, into Target stores nationwide. The company, which has ... add Target to its list of well-respected retailers. This list includes such fine ...
(Date:6/23/2016)... 2016 Houston Methodist Willowbrook Hospital has ... Association to serve as their official health care ... Willowbrook will provide sponsorship support, athletic training services, ... coaches, volunteers, athletes and families. "We ... Association and to bring Houston Methodist quality services ...
(Date:6/23/2016)...   EpiBiome , a precision microbiome engineering company, ... financing from Silicon Valley Bank (SVB). The financing will ... its drug development efforts, as well as purchase additional ... has been an incredible strategic partner to us – ... would provide," said Dr. Aeron Tynes Hammack , ...
(Date:6/23/2016)... , June 23, 2016 Apellis ... Phase 1 clinical trials of its complement C3 ... single and multiple ascending dose studies designed to ... (PD) of subcutaneous injection in healthy adult volunteers. ... (SC) either as a single dose (ranging from ...
Breaking Biology Technology:
(Date:6/7/2016)... , June 7, 2016  Syngrafii Inc. ... a business relationship that includes integrating Syngrafii,s patented ... branch project. This collaboration will result in greater ... the credit union, while maintaining existing document workflow ... http://photos.prnewswire.com/prnh/20160606/375871LOGO ...
(Date:6/2/2016)... --  The Weather Company , an IBM Business (NYSE: ... in which consumers will be able to interact with IBM ... voice or text and receive relevant information about the product ... have long sought an advertising solution that can create a ... and valuable; and can scale across millions of interactions and ...
(Date:5/24/2016)... facilitates superior patient care by providing unparalleled technology to leaders of the medical imaging ... product recently added to the range of products distributed by Ampronix. Photo ... ... ... News ...
Breaking Biology News(10 mins):