AEZ: Sale of Miltefosine to Paladin Labs for C$9.125M

Ridgeland, MS, MAR 03, 2008 (EventX/Knobias.com via COMTEX) -- PLDLF | news | PowerRating | PR Charts -- By Fain Hughes, fhughes@knobias.com

AEterna Zentaris Inc. (AEZS) and Paladin Labs Inc., a Canadian specialty pharmaceutical company, have entered into a definitive purchase and sale agreement with respect to all rights related to the manufacture, production, distribution, marketing, sale and/or use of miltefosine for an aggregate purchase price of Cdn$9.125 million payable in cash, subject to certain post-closing purchase price adjustments. Miltefosine, sold under the brand name Impavido(R) throughout the world, recorded revenues of Euro 2.5 million in 2007.

Miltefosine is a phosphocholine analogue currently marketed under the brand name Impavido(R), the first oral drug for the treatment of visceral and cutaneous leishmaniasis. Impavido(R) has been proven to be highly effective and less toxic than current therapies. Other current available treatments are liposomal amphotericin (Ambisome(R)) and Paromomycin.

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