Company to Receive $3.3 Million One-Time Payment
All amounts are in US dollars (unless otherwise mentioned)
QUÉBEC CITY, Oct. 1, 2013 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") today announced the successful completion of its previously announced agreements with various partners and licensees with respect to the manufacturing rights and obligations for its Cetrotide® product. The principal outcome of such agreements is the transfer of manufacturing rights and the grant of a manufacturing license for Cetrotide® to a subsidiary of Merck KGaA of Darmstadt, Germany ("Merck Serono"), in all jurisdictions. Under the terms of these agreements, Aeterna Zentaris will receive a one-time payment of €2.5 million, or approximately $3.3 million. Cetrotide® (cetrorelix acetate for injection) is used to regulate hormone responses in women undergoing infertility treatment. Merck Serono currently markets Cetrotide® worldwide.
The Company had previously monetized the royalty stream related to Cetrotide® in November 2008 in a transaction with HealthCare Royalty Partners L.P. (formerly Cowen Healthcare Royalty Partners L.P.). With the transfer of manufacturing rights to Merck Serono now completed, Aeterna Zentaris remains focused on the development programs with zoptarelin doxorubicin (AEZS-108) including its Phase 3 ZoptEC (Zoptarelin doxorubicin in Endometrial Cancer) trial and the Phase 2 trials in breast, prostate and bladder cancer, its upcoming NDA filing for macimorelin acetate (AEZS-130) as an oral diagnostic for growth hormone deficiency in adults, as well as on the initiation of a Phase 1 clinical trial with AEZS-120, a novel oral prostate cancer vaccine.
The use of the name "Merck" and "Merck Serono" in this press release refers to Merck KGaA of Darmstadt, Germany. In North America, Merck KGaA operates under the umbrella brand EMD.
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 from drug discovery to regulatory approval. For more information, visit www.aezsinc.com.
This press release contains forward-looking statements made pursuant to the safe harbour provisions of the U.S. Securities Litigation Reform Act of 1995, including forward-looking statements relating to the expected impact of the transfer of the listing of the Company's shares on the NASDAQ Capital Market. 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, market reaction to the transfer of the listing of the shares on the NASDAQ Capital Market, 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 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 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.