Aeterna Zentaris, Inc. and Hikma Pharmaceuticals have signed an exclusive commercialization and licensing agreement for the registration and marketing of perifosine, Aeterna Zentaris’ lead anti-cancer compound, for the MENA (Middle East and North Africa) region. Perifosine, a novel oral Akt inhibitor, is currently in two Phase III programs for the treatment of colorectal cancer and multiple myeloma in the U.S. and Europe.

Aeterna Zentaris will receive an upfront payment and additional payments based on certain pre-established milestones totaling $2 million. Aeterna Zentaris will supply perifosine to Hikma Pharmaceuticals on a cost-plus-basis and is entitled to receive royalties on future sales in the MENA region. Hikma Pharmaceuticals will be responsible for the registration and commercialization of perifosine in the MENA territory.

Juergen Engel, Ph.D., president and chief executive officer of Aeterna Zentaris, said, “Hikma Pharmaceuticals has a proven track record in oncology and is a leading drug company in the Middle East and North Africa region, which is why we believe it is a perfect fit for the development and commercialization of perifosine in that part of the world. We look forward to the Phase III results in colorectal cancer during the first quarter of 2012, as we continue our quest of bringing perifosine to the market worldwide for the benefit of both patients and shareholders.”

Mr. Mazen Darwazah, vice chairman of Hikma Pharmaceuticals, said, “Hikma is committed to improving the treatment of cancer in the MENA region through the development of its oncology product portfolio. This partnership gives Hikma access to a novel, oral anticancer treatment with excellent potential and reinforces Hikma’s commitment to developing its product portfolio through strong partnerships. We look forward to the Phase III results in colorectal cancer in 2012 and are excited to work with Aeterna Zentaris to bring this critically needed therapy.”