Aeterna Zentaris Announces Board of Directors Leadership Change and Election of Directors at Annual Meeting of Shareholders

QUÉBEC CITY, May 12, 2014 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") announces that following its annual meeting of shareholders held on May 9, 2014, its Board of Directors has appointed current President and CEO, David Dodd, as Chairman of the Board, a decision that is in keeping with Aeterna Zentaris' new strategy of transitioning from a research and development into a commercial company. The Board believes that with both roles being assumed by David Dodd, the decision-making process of the leadership will be more efficient, which should also accelerate the attainment of the Company's objective of becoming a commercial entity. In order to ensure that the Board of Directors will continue to act independently from management, Juergen Ernst, former Chairman of the Board and an independent director, will assume the role of Lead Director.

David Dodd, President, CEO and Chairman of Aeterna Zentaris stated, "I would first like to acknowledge and thank Juergen Ernst for his valuable contribution and mentorship over the last few years and we look forward to continue working closely with him and benefit from his vast experience in our industry. I am honoured by the confidence placed in me by our Board, and I am excited to take on this challenge of successfully transforming Aeterna Zentaris into a commercial entity for the benefit of shareholders, patients and our other stakeholders."

The Company also announced the results of the vote on directors held at its annual meeting of shareholders on May 9, 2014.

Each of the director nominees proposed by management for election was elected as director, without a vote by ballot being conducted. The Company received proxies with regard to voting on the seven directors nominated for election as set forth in the table below:

All other matters at the shareholders' meeting were also approved by shareholders.

About Aeterna Zentaris Inc.

Aeterna Zentaris is a specialty biopharmaceutical company engaged in developing novel treatments in oncology and endocrinology. The Company's pipeline encompasses compounds at various stages of development. For more information, visit www.aezsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbour provisions of the US Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that 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 risk that safety and efficacy data from any of our Phase 3 trials may not coincide with the data analyses from previously reported Phase 1 and/or Phase 2 clinical trials, the ability of the Company to efficiently commercialize one or more of its products or product candidates, 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 US securities commissions for additional information on risks and uncertainties relating to 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, unless required to do so by a governmental authority or by applicable law.

SOURCE Aeterna Zentaris Inc.