Aeterna Zentaris Announces Proposed Public Offering of Common Shares and Warrants

Aeterna Zentaris AEZS today announced that it has commenced an underwritten public offering of units (the "Offering"), consisting of common shares and warrants to purchase common shares. Roth Capital Partners, LLC, is acting as the sole book-running manager for the Offering. The Offering is subject to market conditions and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Offering is being conducted pursuant to the Company's effective shelf registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (the "SEC"), its corresponding Canadian base shelf prospectus and an exemption from the Autorit des march s financiers permitting the Company to offer common shares and warrants in the United States. A preliminary prospectus supplement relating to the offering will be filed with the SEC and with the securities regulatory authority in each of the provinces of Canada. When available, a copy of the preliminary prospectus supplement and the accompanying base shelf prospectus can be obtained on the SEC's website at www.sec.gov or on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com. Alternatively, copies of the preliminary prospectus supplement and the accompanying base shelf prospectus may be obtained upon request by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, CA, 92660, (800) 678-9147, e-mail: rothecm@roth.com.