Aeterna Zentaris Announces Transfer of Manufacturing Rights Related to
Cetrotide® to Merck KGaA
QUÉBEC CITY, April 17, 2013
All amounts are in US dollars (unless otherwise mentioned)
QUÉBEC CITY, April 17, 2013 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ:
AEZS) (TSX: AEZ) (the"Company") today announced that its German subsidiary
has entered into binding agreements with various partners and licensees with
respect to the manufacturing rights and obligations for its Cetrotide^®
product. The principal effect of such agreements is to transfer manufacturing
rights and to grant a manufacturing license for Cetrotide^® to a subsidiary of
Merck KGaA of Darmstadt, Germany ("Merck Serono"), in all jurisdictions.
Subject to the satisfaction of customary closing conditions, the transaction
is expected to be completed on or about October 1, 2013, at which time Aeterna
Zentaris would receive a one-time payment of €2.5 million, or approximately
$3.2 million and certain other payments. In addition, the Company has also
entered into a transitional services agreement with Merck KGaA under which the
Company will, during a 36-month period, provide various transition services to
assist Merck KGaA in assuming responsibility for the manufacturing of
Cetrotide^® in consideration for the payment of a monthly fee to the Company
throughout such period.
Cetrotide^® (cetrorelix acetate for injection) is used to regulate hormone
responses in women undergoing infertility treatment. Merck Serono, a leader in
the field of fertility treatments, 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, Aeterna Zentaris remains focused on its
Phase 3 trial in endometrial cancer and Phase 2 trials in breast, prostate and
bladder cancer with AEZS-108, its upcoming NDA filing for AEZS-130 as an oral
diagnostic test for growth hormone deficiency in adults, as well as its
earlier-stage oncology compounds, including AEZS-120.
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
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
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
SOURCE AETERNA ZENTARIS INC.
Ginette Beaudet Vallières
Investor Relations Coordinator
(418) 652-8525 ext. 265
Director of Communications
(418) 652-8525 ext. 406
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