Full Press Release Details
Provides Strategic Update
ONTARIO, March 5, 2026 - COSCIENS Biopharma Inc. (TSX: CSCI) (FINRA: CSCIF) ("COSCIENS" or the "Company")
today announced that the Company has made a strategic decision to cease funding its German subsidiaries, Aeterna Zentaris GmbH and Zentaris
IVF GmbH (the "German Subsidiaries"). As a result, the Company expects the German Subsidiaries to commence a structured
insolvency process in the near future.
Company has historically pursued the development of its pharmaceutical therapeutic assets, including its main pharmaceutical asset, Macrilen
(macimorelin), via its German Subsidiaries (collectively, the "Biopharmaceutical Business"). Macrilen is an FDA and
EMA approved oral test indicated for the diagnosis of adults with growth hormone deficiency and is commercially available in a number
of countries, but the Biopharmaceutical Business has historically operated at a loss. The long-term viability of the business has always
been largely dependent on the Company's ability to expand the market for Macrilen, either by obtaining FDA approval for a pediatric
indication in the U.S., or otherwise. In light of the disappointing results of Macrilen's Phase 3 DETECT trial and subsequent Type
C meeting with the FDA (which represented a significant setback to the Company's hopes for a full pediatric approval in the U.S.),
the Company has been undertaking a strategic review of its options, including by exploring the viability of (i) alternative options for
expansion into the U.S. market, (ii) a possible sale of the product and/or of the German Subsidiaries, and (iii) additional licensing
and partnership opportunities. Despite the recently announced distribution agreement with Wuzhou Drug International Trading Limited,
it was determined that the best path forward for the Company and its shareholders was to cease providing any further financing to the
German Subsidiaries.
a result of the expected insolvency process, the Company anticipates surrendering its rights to Macrilen and significantly reducing its
ongoing operating expenses. Peter Puccetti, Interim CEO and Chairman of the Board, commented, "The Board did not make this decision
lightly, but we firmly believe it marks a significant and positive step towards the Company's goal of achieving profitability.
Going forward, the Company will continue to focus on maximizing the profitability of its active ingredients business and to evaluate
other opportunities."
COSCIENS Biopharma Inc.
is a life science company focused on the development of natural, plant-based active ingredients, leveraging the Company's proprietary
manufacturing and extraction technologies to develop Avenanthramides and Beta Glucan active ingredients currently used in leading skincare
statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements"
within the meaning of the United States Private Securities Litigation Reform Act of 1995, as amended, and "forward-looking information"
under the provisions of Canadian securities laws. All statements, other than statements of historical fact, that address circumstances,
events, activities, or developments that could or may or will occur are forward-looking statements. When used in this news release, words
such as "anticipate", "assume", "believe", "could", "expect", "forecast",
"future", "goal", "guidance", "intend", "likely", "may", "would"
or the negative or comparable terminology as well as terms usually used in the future and the conditional are generally intended to identify
forward-looking statements, although not all forward-looking statements include such words. Forward-looking statements in this news release
include, but are not limited to, statements relating to the expectations regarding an insolvency process in respect of the German Subsidiaries,
including the timing and implications thereof.
statements are based on current expectations and assumptions, including factors or assumptions factors or assumptions that were applied
in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and
expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require
making assumptions and involve inherent risks and uncertainties. The Company cautions that although it is believed that the assumptions
are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially
from those expressed or implied by such forward-looking statements, including but not limited to the factors described in "Risks
Relating to Us and Our Business" in the Company's Annual Report on Form 20-F for the year ended December 31, 2024. Given
these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. We disclaim
any obligation to update any such risks or uncertainties or to publicly announce any revisions to any of the forward-looking statements
contained herein to reflect future results, events or developments, unless required to do so by a governmental authority or applicable
CEO and Chairman of the Board