Last updated on April 16, 2014 at 10:37 EDT

Aeterna Zentaris Announces Closing of US$16.5 Million Public Offering of Common Shares and Warrants

October 17, 2012

QUÉBEC CITY, Oct. 17, 2012 /PRNewswire/ – Aeterna Zentaris Inc. (NASDAQ:
AEZS) (TSX: AEZ) (the ”Company”) today announced the closing of its
previously announced public offering of 6.6 million units (the
“Offering”) generating net proceeds of US$15.2 million, with each unit
consisting of one common share and 0.45 of a warrant to purchase one
common share, at a purchase price of US$2.50 per unit. Each warrant is
exercisable for a period of five years at an exercise price of US$3.45
per share. Roth Capital Partners, LLC, acted as the sole manager for the Offering.

The Company intends to use the net proceeds from the Offering to
continue to fund its ongoing drug development activities, particularly
for the continued development of perifosine in multiple myeloma and the
advancement of its AEZS-108 and AEZS-130 programs, as well as for
general corporate purposes and working capital.

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: PR Newswire