Aeterna Zentaris Inc. announced that it has formed a special committee of independent directors (the ‘Strategic Review Committee') to consider and evaluate various strategic and financing alternatives available to the company to maximize shareholder value, including continuing to execute on its existing business plan and/or considering and recommending changes to the Company's management and governance. The Strategic Review Committee will be chaired by Carolyn Egbert, and includes Michael Cardiff. The Strategic Review Committee is in the course of engaging a financial advisor to assist with this process.

David A. Dodd has ceased to be the company's President and CEO with immediate effect. The board of directors of the company has appointed Michael Ward as the company's Chief Executive Officer. Most recently, Mr. Ward served as Chief Compliance & Legal Officer and Corporate Secretary for Sagent Pharmaceuticals.