Aeterna Zentaris Engages The Investor Relations Group

Active Investor Outreach to Build Company Awareness

QUÉBEC CITY, Jan. 25 /PRNewswire-FirstCall/ - Aeterna Zentaris Inc. (NASDAQ: AEZS, TSX: AEZ) (the "Company") today announced it has engaged The Investor Relations Group ("IRG"), a fourteen-year-old, award-winning, investor relations firm based in New York City, to serve as its investor relations agency.

IRG's investor relations team will target specific portfolio managers and equity analysts in the global investment community to increase awareness of Aeterna Zentaris' product pipeline and the status of its ongoing clinical trials.

"Following our very successful R&D review for investors and analysts held in New York in December, and the establishment of a bold set of initiatives for 2011, we have decided to enhance our investor relations program through the appointment of IRG who will expand our reach to the investment community," commented Juergen Engel, Ph.D., President and CEO at Aeterna Zentaris. "We are proud of our progress in the development of a number of highly promising anti-cancer treatments, particularly perifosine, which is currently in Phase 3 for colorectal cancer and multiple myeloma, as well as AEZS-108, which has successfully completed Phase 2 trials in ovarian and endometrial cancer, with a pivotal trial in endometrial cancer expected to be initiated this year. Our lead product in endocrinology, Solorel^®, is currently in a Phase 3 trial as an oral diagnostic test for Adult Growth Hormone Deficiency, and we expect to complete the trial and file a new drug application over the course of this year. We look forward to working with IRG in order to update the investment community on our progress throughout the year."

IRG's investor relations program includes new media and multimedia initiatives that involve the creation of broadcast-ready corporate videos, podcasts, and the creation of social networking, video service, and micro-blogging accounts. The Investor Relations Group was recently honored with a "Stevie Award" for Investor Relations Program of the Year and named a finalist in the Best Media Website category from the 2009 American Business Awards.

About The Investor Relations Group, Inc.

The Investor Relations Group, Inc. (IRG) offers a full-service corporate communications program designed to suit the many unique needs of Alternative Public Offering (APO) companies. The program utilizes a proprietary, targeted approach to reach institutional investors, analysts, and the media-at-large. For further information, please visit the company's website at www.investorrelationsgroup.com.

About Aeterna Zentaris Inc.

Aeterna Zentaris is a late-stage oncology drug development company currently investigating potential treatments for various cancers including colorectal, ovarian, endometrial cancer and multiple myeloma. The Company's innovative approach of "personalized medicine" means tailoring treatments to a patient's specific condition and to unmet medical needs. Aeterna Zentaris' deep pipeline is drawn from its proprietary discovery unit providing the Company with constant and long-term access to state-of-the-art therapeutic options. For more information please visit www.aezsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbour provisions of the U.S. 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 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.