Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 68

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 5
Chunk 68
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 to “ CA $” are to Canadian
dollars. For comparative purposes, historical consolidated financial statements of Ceapro were recast in U. S. dollars by translating
assets and liabilities at the closing exchange rate in effect at the end of the respective period, revenues, expenses and cash flows
at the average exchange rate in effect for the respective period and equity transactions at historical exchange rates. Translation gains
and losses are included in the cumulative foreign currency translation adjustment, which is reported as a component of shareholders’
equity under accumulated other comprehensive loss.

Name
Change

At
the Company’s annual general and special meeting of shareholders held on July 16, 2024, the shareholders of the Company approved
a special resolution authorizing the Board to effect a change of name of the Company from “ Aeterna Zentaris Inc.” to “ COSCIENS
Biopharma Inc.” (the “ Name Change”). On August 6, 2024, the Company filed articles of amendment pursuant to the Canada
Business Corporations Act

On
August 9, 2024, the Company’s common shares began trading on the TSX and Nasdaq under the trading symbol “ CSCI”, and
concurrently ceased trading thereon under the former trading symbol “ AEZS”. The Name Change did not result in any changes
in the capitalization of the Company.

Management
Succession Plan

With
the initial integration efforts now well underway, the Board of Directors, with the full support of current President and CEO Gilles
Gagnon, M. Sc., MBA, has engaged an executive recruiting firm to identify and evaluate candidates for the next President and CEO role.
This search aims to find a visionary leader who will drive COSCIENS forward and build on the Company’s successes.

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Key
Operational Developments

Active
ingredients

The
Company’s active ingredient segment focuses on leveraging our unique expertise in the extraction, production and commercialization
of active ingredients from natural sources. The Company’s commercialized products are well positioned in the cosmeceutical market
and mostly focused on the documented health benefits of two bio actives extracted from oats; beta glucan and avenanthramides. These products
include:

  A                                                                                                   
  A                                                                                                   
  Veterinary                                                                                          

The
Company’s core technologies used to extract and process bio actives include proprietary Ethanol Fractionation Processes (EFP) and
Pressurized Gas eXpanded (PGX