AEterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ), a global biopharmaceutical company focused on endocrine therapy and oncology, announced today that it has completed its previously announced registered direct offering of US$10 million of units comprised of common shares and common share purchase warrants to certain institutional investors. AEterna Zentaris received net proceeds of approximately US$9.25 million after deducting placement agent fees and other offering expenses. All of the common shares and warrants were offered pursuant to an effective shelf registration statement. Proceeds from the transaction will be used for general corporate purposes, including clinical development of the Company’s leading oncology and endocrinology compounds.

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Dr. Juergen Engel, Ph. D., President and CEO of AEterna Zentaris stated, “We are very pleased with this vote of confidence from targeted specialized institutional investors. In addition, completing this financing provides us with additional funds that will help us to further strengthen our promising oncology pipeline.”

As of June 24, 2009 and after issuing 5,319,149 common shares at the closing of the offering, the Company had 58,506,619 common shares issued and outstanding.

A shelf registration statement relating to the common shares and warrants issued in the offering (and the common shares issuable upon exercise of the warrants) has been filed with the Securities and Exchange Commission (the “SEC”) and has been declared effective. A prospectus supplement relating to the offering was filed with the SEC. Copies of the prospectus supplement and accompanying prospectus may be obtained directly from AEterna Zentaris Inc., 1405 du Parc-Technologique Boulevard, Quebec City, Canada G1P 4P5. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of AEterna Zentaris’ common shares or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.

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Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc., (Nasdaq: RODM – News), acted as the exclusive placement agent for the transaction.

About AEterna Zentaris Inc.

AEterna Zentaris Inc. is a global biopharmaceutical company focused on endocrine therapy and oncology, with proven expertise in drug discovery, development and commercialization. News releases and additional information are available at www.aezsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the U.S. Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which could cause the Company’s actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. Investors should consult the Company’s quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned not to rely on these forward-looking statements. The Company does not undertake to update these forward-looking statements. We disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except if we are requested by a governmental authority or applicable law.

Source: AEterna Zentaris Inc.

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Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), today announced that Michael G. King, Jr. has been named Head of Healthcare, a newly created role at the firm. King was formerly Director of Research at Rodman. Rodman also announced that Christopher James, MD, formerly a Senior Associate Analyst working for King, has rejoined the firm and will assume research coverage of many of King’s stocks.

Rodman announced the move as part of its ongoing efforts to ensure that key personnel are deployed as much as possible in client-facing and revenue-enhancing activities. In his new position, Mr. King will draw upon the relationships that he has developed with a wide range of healthcare companies, as well as the physician opinion leaders and buy-side clients he has dealt with over the years. Mr. King will leverage these relationships to provide integrated advice on financings, partnerships and strategic transactions, including mergers, acquisitions, divestitures and strategic restructurings. King will also continue to contribute to Rodman’s knowledge leadership in healthcare by writing industry thought pieces, white papers, and general commentary on the trends in the biotechnology/life science space.

“As our business grows and our clients’ needs evolve, we believe that it is in the best interests of our clients and our franchise to have Mike’s ample talents and experience available in creative new ways,” said Michael Lacovara, Rodman’s CEO. “Mike’s new role as Head of Healthcare is a huge win for Rodman, our clients, and for Mike. We are also delighted to have Chris James rejoin our team. Chris will ensure continuity of research coverage of Mike’s stocks and embodies our continued commitment to Rodman’s distinguished healthcare research.”

“I am thrilled with my new role at Rodman, and have enjoyed my tenure as an analyst and Rodman’s Director of Research. I look forward to using my 15 years of experience as an analyst to provide valuable advice to the companies in our industry,” said Michael G. King, Jr, Rodman’s Head of Healthcare. “Now, more than ever, biotechnology companies need advice that is based on a complete understanding of the company’s life cycle and prevailing market dynamics. The environment we face is the most challenging ever, and the capital markets have been forever changed. I hope to bring my expertise as a key player in the market to bear on how companies run and finance their businesses.”

Michael King joined Rodman & Renshaw in May of 2005 as a Senior Biotechnology Analyst and has covered companies across a wide spectrum of market capitalizations and therapeutic categories. Prior to joining Rodman, Mr. King was a Managing Director and Senior Equity Research Analyst in the Health Care Group at Banc of America Securities LLC, where he covered the biotechnology sector. Mr. King joined Banc of America Securities LLC, in 2002 from Robertson Stephens, where he had been a Managing Director and Senior Biotechnology Analyst since 1998. Prior to that, he served as senior biotechnology analyst at Vector Securities from 1996 to 1998 and at Dillon, Read & Co. from 1994 to 1996. He has also held positions at D. Blech & Company, Alex Brown and Sons, Hambrecht & Quist and Kidder, Peabody & Company. He earned a BBA with honors in finance from Baruch College.

Christopher James, MD, is rejoining Rodman & Renshaw as a Vice President and Senior Biotechnology Analyst. He will be covering large- to small-capitalization stocks across a wide therapeutic spectrum. Prior to rejoining Rodman, he was a Healthcare Analyst at Trivium Capital Management. Mr. James first joined Rodman in June 2006, where he worked for two years as Michael King’s Senior Associate. He has also held positions at Daiichi Sankyo as a Manager of New Products and Defined Health as a Pharmaceutical Consultant. He received his medical training in Neurosurgery at the Weill Cornell-New York Hospital. Mr. James holds an MD from Yale School of Medicine and a BS from Cornell University.

About Rodman & Renshaw Capital Group, Inc.

Rodman & Renshaw Capital Group, Inc. is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC, Rodman Principal Investments, LLC and Miller Mathis & Co., LLC.

Rodman & Renshaw, LLC is a full service investment bank dedicated to providing investment banking services to companies that have significant recurring capital needs due to their growth and development strategies, along with research and sales and trading services to investor clients that focus on such companies. Rodman is a leading investment banking firm with particular emphasis on “essential” industries with significant capital needs, including health care (especially life science), energy (especially upstream oil and gas), ferrous and non-ferrous metals, shipping, and natural resources, as well as a leader in the PIPE (private investment in public equity) and RD (registered direct placements) transaction markets.

MEMBER FINRA, SIPC.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements regarding future events and financial performance. In some cases, you can identify these statements by words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. There are or may be important factors that could cause our actual results to materially differ from our historical results or from any future results expressed or implied by such forward looking statements. These factors include, but are not limited to, those discussed under the section entitled “Risk Factors” in our Annual Report on Form 10-K, filed March 14, 2008, which is available at the Securities and Exchange Commission website at www.sec.gov. The forward-looking statements in this press release are based upon management’s reasonable belief as of the date hereof. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Source: Business Wire

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