Æterna acquires Zentaris from Degussa

Quebec-based Æterna Laboratories has reached agreement with Degussa to acquire all the outstanding shares of German biopharmaceutical company Zentaris for €50m (C$81.5m). The deal has been approved unanimously by the boards of both Æterna and Degussa.

Zentaris strengthens Æterna's pipeline in oncology and diversifies the portfolio into a second growing therapeutic area, endocrinology. To complement Æterna's leading position in antiangiogenesis for oncology, Zentaris adds four clinical stage products (three Phase II, one Phase I) in nine indications in addition to six preclinical stage products to the portfolio. In endocrinology, Zentaris brings one product with four indications (three in Phase II, one marketed): Cetrotide is approved and marketed for in vitro fertilisation.

Æterna is also expected to benefit from Zentaris's established marketing alliances and strategic partnerships, including Serono International; Solvay Pharmaceuticals; Baxter Healthcare; Shionogi; Nippon Kayaku; and The National Cancer Institute.

Gilles Gagnon, Æterna's president and chief operating officer said: 'This agreement is a major step towards creating a global biopharmaceutical company, from drug discovery to market approval.'