All amounts are in US dollars
QUÉBEC CITY, April 10, 2013 /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") today announced the signing of a co-development and profit sharing agreement with Ergomed Clinical Research Ltd. ("Ergomed") for AEZS-108 in endometrial cancer. Ergomed was selected as the contract clinical development organization to conduct the multicenter, multinational, randomized Phase 3 trial with AEZS-108 in endometrial cancer.
Under the terms of the agreement, Ergomed will assume 30% (up to $10 million) of the clinical and regulatory costs for the Phase 3 trial with AEZS-108 in endometrial cancer, which are estimated at approximately $30 million over the course of the study. Ergomed will receive its return on investment based on an agreed single digit percentage of any net income received by Aeterna Zentaris for AEZS-108 in this indication, up to a specified maximum amount.
Juergen Engel, Ph.D., President and CEO of Aeterna Zentaris stated, "We look forward to working with Ergomed which has a proven track record of delivering cost effective and efficient drug development services worldwide. This agreement is part of our non-dilutive strategy aimed at minimizing R&D costs while maximizing drug development efficiency. Our goal for AEZS-108 with this collaboration, is to provide a much needed new treatment option to women with late-stage endometrial cancer."Miroslav Reljanovic, M.D., CEO of Ergomed said, "We are delighted to co-invest with Aeterna Zentaris in the development of AEZS-108 which has shown promising results in Phase 2 trials to date. This agreement is the fifth co-development deal we have signed to date, and demonstrates again the attractive alternative it offers to sophisticated drug developers, as they look to maximise investment returns. Ergomed is now established as one of the leading companies worldwide offering and completing deals under this innovative model."