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Aeterna Zentaris Inc. Announces Closing of US$7.6m

November 7, 2016 Client: Aeterna Zentaris Inc.

Counsel to Aeterna Zentaris Inc. in connection with the issuance in the United States of an aggregate amount of US$7.6 million of units comprised of either common shares or pre-funded warrants and warrants by way of a registered direct offering to a single healthcare dedicated institutional investor.

The Montreal and Frankfurt team was led by led by Elliot Shapiro and Steve Malas and included Meghan Stewart, Melanie Josepovici (Corporate and Securities), Derek Chiasson, Antoine Desroches (Tax) and Viviane Albuquerque (articling student). Chris Hilbert, Manny Rivera, James Lacey and Leslie Hung of Norton Rose Fulbright US LLP advised Aeterna Zentaris with respect to U.S. securities law matters. Karsten Kühnle and Kai Krueger of Norton Rose Fulbright LLP's Frankfurt office acted as special counsel to Aeterna Zentaris GmbH in connection with the offering.