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Aeterna Zentaris to Raise US$12 Million in Registered Direct Offering

QUEBEC CITY, June 15 /PRNewswire-FirstCall/ - Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the "Company"), a late-stage drug development company specialized in oncology and endocrinology, announced today that it has received commitments from institutional investors to purchase US$12.1 million of securities in a registered direct offering. Under the terms of a Securities Purchase Agreement, the Company will sell to such institutional investors an aggregate of approximately 8.8 million common shares of its capital at a price of US$1.3725 per share and issue warrants to acquire an aggregate of approximately 4.4 million common shares at an exercise price of US$1.3725 per share.

The warrants to purchase additional common shares of Aeterna Zentaris will be exercisable immediately upon issuance and will expire on the fifth-year anniversary thereof. All of the securities were offered pursuant to an effective shelf registration statement filed in the United States. Proceeds from the transaction will be used to fund the Company's AEZS-108, AEZS-112 and AEZS-130 programs and for other general corporate and working capital purposes. The offering is expected to be consummated no later than June 18, 2010, subject to customary closing conditions.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc., (NASDAQ: RODM), acted as the exclusive placement agent for the transaction.

The proceeds from Aeterna Zentaris' registered direct offering that was completed on April 20, 2010 have been and are being used primarily in connection with perifosine, Aeterna Zentaris' lead oncology compound that is being developed in collaboration with its North American partner, Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX), following various positive developments announced with respect to perifosine during the first quarter of 2010.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the common shares and warrants issued in the offering (and the common shares issuable upon exercise of the warrants) has been filed with the Securities and Exchange Commission (the "SEC") and has been declared effective. A prospectus supplement relating to the offering will be filed by the Company with the SEC and the Canadian securities regulatory authorities. Copies of the prospectus supplement and accompanying prospectus may be obtained directly from the Company or by contacting Aeterna Zentaris Inc., 1405 du Parc-Technologique Boulevard, Quebec City, Canada G1P 4P5.

About Aeterna Zentaris Inc.

Aeterna Zentaris Inc. is a late-stage drug development company specialized in oncology and endocrine therapy News releases and additional information are available at

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the U.S. Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned not to rely on these forward-looking statements. The Company does not undertake to update these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except if we are required by a governmental authority or applicable law.

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Related biology technology :

1. Aeterna Zentaris Receives Positive Opinion for Orphan Medicinal Product Designation for AEZS-108 for the Treatment of Ovarian Cancer from the Committee for Orphan Medicinal Products of the European Medicines Agency
2. Aeterna Zentaris Reports First Quarter 2010 Financial and Operating Results
3. Aeterna Zentaris: FDA Approves Investigational New Drug (IND) Application for Doxorubicin Targeted Conjugate Compound, AEZS-108, in Bladder Cancer
4. Aeterna Zentaris Receives Orphan-Drug Designation from the FDA for AEZS-108 in Ovarian Cancer
5. AEterna Zentaris Announces Termination of Agreement with sanofi-aventis U.S. for the Development, Commercialization and Licensing of Cetrorelix in Benign Prostatic Hyperplasia
6. AEterna Zentaris Partner, Keryx, Initiates Phase 3 Registration Trial with Perifosine (KRX-0401) for the Treatment of Patients with Advanced Multiple Myeloma
7. AEterna Zentaris Announces Appointment of New Board Member
8. AEterna Zentaris Partner, Keryx, Reports Updated Phase 1/2 Data, Including New Survival Data, on Perifosine (KRX-0401) in the Treatment of Advanced Multiple Myeloma at the 51st Annual Meeting of the American Society of Hematology
9. AEterna Zentaris Announces Results from its European Phase 3 Study with Cetrorelix in Benign Prostatic Hyperplasia
10. AEterna Zentaris Anti-Cancer Compound, Perifosine (KRX-0401), Receives FDA Fast Track Designation for the Treatment of Relapsed/Refractory Multiple Myeloma
11. AEterna Zentaris Announces Positive Results for Phase 2 Study with LHRH-Receptor Targeted Cytotoxic Conjugate AEZS-108 in Endometrial Cancer
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