Aeterna Zentaris declares effectiveness of Form F-3 shelf registration statement filed with SEC

Aeterna Zentaris Inc. (NASDAQ: AEZS) (TSX: AEZ) (the "Company") today announced that its shelf registration statement on Form F-3 previously filed with the Securities and Exchange Commission (the "SEC") has been declared effective by the SEC. Under the shelf registration statement, the Company may offer and sell from time to time, in one or more public offerings in the United States, up to $50 million of common shares in one or more "at-the-market" ("ATM") distribution programs, during a 36-month period. The specifics of any particular ATM share issuance program, along with the terms and the use of proceeds of any such common shares offered by the Company will be determined at the time of any such offering and will be described in detail in a prospectus supplement or supplements filed with the SEC at the time of any such offerings.

This press release and the prospectus are not an offer to sell these securities and they are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information contained in the prospectus and the accompanying prospectus supplement is accurate on any date subsequent to the date set forth on the front of these documents or that any information that the Company has incorporated by reference is correct on any date subsequent to the date of the document incorporated by reference. The Company's business, financial condition, results of operations and prospects may have changed since those dates.

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Aeterna Zentaris Inc.

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