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Aeterna Zentaris Announces Proposed Public Offering of Common Shares and Warrants

   Aeterna Zentaris Announces Proposed Public Offering of Common Shares and
                                   Warrants

PR Newswire

QUÉBEC CITY, Oct. 11, 2012

QUÉBEC CITY, Oct. 11, 2012 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS)
(TSX:AEZ) (the"Company") today announced that it has commenced an
underwritten public offering of units (the "Offering"), consisting of common
shares and warrants to purchase common shares.

Roth Capital Partners, LLC, is acting as the sole book-running manager  for
the Offering. The Offering is subject to market conditions and there can be no
assurance as to whether or when the Offering may be completed, or as to the
actual size or terms of the Offering.

The Offering is being conducted pursuant to the Company's effective shelf
registration statement on Form F-10 filed with the U.S. Securities and
Exchange Commission (the "SEC"), its corresponding Canadian base shelf
prospectus and an exemption from the Autorité des marchés financiers
permitting the Company to offer common shares and warrants in the United
States. A preliminary prospectus supplement relating to the offering will be
filed with the SEC and with the securities regulatory authority in each of the
provinces of Canada. When available, a copy of the preliminary prospectus
supplement and the accompanying base shelf prospectus can be obtained on the
SEC's website at www.sec.gov or on the SEDAR website maintained by the
Canadian Securities Administrators at www.sedar.com. Alternatively, copies of
the preliminary prospectus supplement and the accompanying base shelf
prospectus may be obtained upon request by contacting Roth Capital Partners,
LLC, 888 San Clemente Drive, Newport Beach, CA, 92660, (800) 678-9147, e-mail:
rothecm@roth.com.

This press release does not and shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company's securities, nor shall
there be any sale of the Company's securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.

About Aeterna Zentaris

Aeterna Zentaris is an oncology and endocrinology drug development company
currently investigating treatments for various unmet medical needs. The
Company's pipeline encompasses compounds at all stages of development, from
drug discovery through to marketed products. 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 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.

Contact:

Investor Relations
Ginette Beaudet Vallières
Investor Relations Coordinator
(418) 652-8525 ext. 265
gvallieres@aezsinc.com

Media Relations
Paul Burroughs
Director of Communications
(418) 652-8525 ext. 406
pburroughs@aezsinc.com