QUEBEC CITY, April 11 /PRNewswire-FirstCall/ - AEterna Zentaris Inc.(Nasdaq: AEZS TSX: AEZ;), a global biopharmaceutical company focused onendocrine therapy and oncology, today announced that David J. Mazzo, Ph.D.,has resigned as President and Chief Executive Officer and as member of theBoard of Directors of AEterna Zentaris, effective immediately. Mr. JuergenErnst, the current Chairman of the Board of AEterna Zentaris, has beenappointed as the interim President and Chief Executive Officer of the Companyand will serve in that capacity until a suitable replacement is identified andappointed by the Board of Directors. Ellen McDonald, MBA, the Senior VicePresident, Business Operations and Chief Business Officer of AEterna Zentaris,has also resigned from the Company effective immediately.
Management and the Board of Directors of AEterna Zentaris wish to thankDr. Mazzo and Ms. McDonald for their significant efforts on behalf of theCompany and to recognize Dr. Mazzo's contribution to the Board of Directors.
Mr. Ernst, Chairman of the Board and Interim President and CEO of AEternaZentaris, commented: "We have confidence in the experienced management team inplace and will further advance our products through the pipeline, continuingto focus and prioritize on our Phase 3 program with cetrorelix in benignprostatic hyperplasia (BPH) and our Phase 2 program with AEZS-108 forendometrial and ovarian cancer. We believe that we have a solid foundation anda robust development pipeline, and we will continue to develop its fullpotential."
Mr. Ernst added: "We will continue to monetize our non-core assets inorder to provide additional sources of non-dilutive funding." In that regard,AEterna Zentaris completed the sale of Echelon Biosciences in December 2007for US$3.2 million and the sale in March 2008 of all rights relating to theuse of miltefosine for Cdn$9.125 million.
Furthermore, the Board of Directors has authorized management to exploreother such opportunities with a view to identifying additional non-core assetsas a further potential source of non-dilutive funding.
About AEterna Zentaris Inc.
AEterna Zentaris Inc. is a global biopharmaceutical company focused onendocrine therapy and oncology with proven expertise in drug discovery,development and commercialization.
This press release contains forward-looking statements made pursuant tothe safe harbor provisions of the U.S. Securities Litigation Reform Act of1995. Forward-looking statements involve known and unknown risks anduncertainties, which could cause the Company's actual results to differmaterially from those in the forward-looking statements. Such risks anduncertainties include, among others, the availability of funds and resourcesto pursue R&D projects, the successful and timely completion of clinicalstudies, the ability of the Company to take advantage of businessopportunities in the pharmaceutical industry, uncertainties related to theregulatory process and general changes in economic conditions. Investorsshould consult the Company's quarterly and annual filings with the Canadianand U.S. securities commissions for additional information on risks anduncertainties relating to the forward-looking statements. Investors arecautioned not to rely on these forward-looking statements. The Company doesnot undertake to update these forward-looking statements. We disclaim anyobligation to update any such factors or to publicly announce the result ofany revisions to any of the forward-looking statements contained herein toreflect future results, events or developments except if we are requested by agovernmental authority or applicable law.News releases and additional information are available at www.aezsinc.com. Forward-Looking Statements
SOURCE AETERNA ZENTARIS INC.