January 17, 2018 / 1:19 PM / 9 months ago

BUZZ-Aeterna Zentaris: Sells hormone deficiency test rights for Canada, U.S.

** U.S.-listed shares of Canadian drug developer surge 33.8 pct to $2.77 premarket

** Sells U.S. and Canadian rights of its recently approved growth hormone deficiency test to Strongbridge Biopharma Plc for $24 mln in upfront payment and royalties

** SBBP to pay royalties in mid-to-high teens as percentage of net sales of test

** AEZS to also receive milestone payments upon FDA approval of test in pediatric indications

** Test approved by U.S. FDA last month to diagnose adult growth hormone deficiency, which affects 60,000 people in the U.S. and Canada alone

** Commercial launch of the test expected mid-2018

** AEZS’s stock had fallen about 34 pct in 2017 (Reporting by Manas Mishra)

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