Mr. David Dodd reports

AETERNA ZENTARIS AFFIRMS FUNDAMENTAL STRENGTH OF BUSINESS

Aeterna Zentaris Inc. affirms that its business and prospects remain fundamentally strong and highlights the following developments:

• Zoptrex (zoptarelin doxorubicin) recently received DSMB recommendation to continue the ZoptEC phase 3 clinical program to completion following review of the final interim efficacy and safety data;
• Zoptrex met phase 2 primary end point in men with heavily pretreated castration- and Taxane-resistant prostate cancer;
• First patient enrolled in the confirmatory phase 3 clinical trial of Macrilen;
• Promotion of Saizen and EstroGel by the company's sales force continues to show promise;
• Dilution from Series B share purchase warrants has been substantially eliminated.

Commenting about the fundamentals of the company's business, chairman, president and chief executive officer David A. Dodd stated: "Yesterday's announcement regarding corporate developments, which was required by IIROC [Investment Industry Regulatory Organization of Canada] on behalf of the Toronto Stock Exchange, caused some to question the fundamentals of our business. I want to reiterate that we believe the fundamentals remain strong. We have two products in phase 3. One of the products, Zoptrex, is in the late stage of phase 3. We instituted a confirmatory phase 3 clinical trial of Macrilen after a panel of United States and European Union endocrinology experts advised us to continue to seek approval for the compound because of their confidence in its efficacy and because there currently is no Food and Drug Administration-approved diagnostic test for adult growth hormone deficiency. That phase 3 study recently enrolled its first patient, keeping us on track to conclude it by the end of 2016.

"We continue discussions with others about adding to our portfolio of promoted products, and about the commercial rights to and development of Zoptrex, in markets outside the United States. Of course, our business is subject to the risks inherent in the development of biopharmaceuticals. But we are successfully moving forward with activities intended to create long-term value for our shareholders. We are confident in our activities and believe we are achieving the necessary progress to build significant value for our shareholders, employees, and the medical providers and patients who will benefit from our developing portfolio."

We seek Safe Harbor.