VANCOUVER, May 30, 2012 /PRNewswire/ - Anavex Life Sciences Corp. ("Anavex") (OTCBB: AVXL) today commented on President Obama's National Alzheimer's Plan, which was unveiled earlier this month. It is part of the National Alzheimer's Project Act (NAPA), which was signed into law in January 2011. NAPA is the first-ever national plan to address Alzheimer's disease. Its goals include finding effective ways to overcome Alzheimer's and related dementias by 2025.
"This federally coordinated effort to fight Alzheimer's disease will help improve the lives of tens of millions of Americans. Anavex strongly supports the Obama administration's continued commitment to fight this devastating disease," said Harvey Lalach, President of Anavex Life Sciences Corp. "We are pleased that this historic plan is being accelerated and to see such momentum in enhancing Alzheimer's-related care and services. It is also extremely positive to see such substantial funding proposed - $80-million in the fiscal year 2013 budget alone - to support additional Alzheimer's research that is necessary to bring innovative solutions to market."
To potentially help address the disease that currently affects more than five million Americans, Anavex is advancing ANAVEX 2-73, its lead drug candidate for Alzheimer's disease. ANAVEX 2-73 has successfully completed a Phase 1a clinical trial in humans. Data from this trial indicates that the compound is well tolerated with no dose-limiting toxicities unrelated to the drug's mechanism of action. Data published by world-renowned Alzheimer's scientists shows that ANAVEX 2-73 exhibits neuroprotective activity to prevent cell death and reverses symptoms of the disease in mouse models. Preclinical animal studies have shown early signs of efficacy, improvement in the memory of animals and a disease-modifying effect in some cases.
ANAVEX 2-73 is the first of a new class of oral, disease-modifying drugs being studied to potentially treat Alzheimer's disease itself, versus treating its symptoms.
"We are proud to be playing our part in the battle to conquer Alzheimer's disease," added Mr. Lalach. "Our team is excited and encouraged by the data we have generated to date, which supports our unique approach to potentially prevent, halt and/or reverse the course of this devastating disease."
While Alzheimer's is most common in people over the age of 65, it can strike adults of any age irrespective of their gender, background or socioeconomic status. According to the Alzheimer's Association an estimated 5.4 million Americans are currently living with Alzheimer's disease. The number of Americans aged 65 and over with Alzheimer's is estimated to reach 6.7 million by 2025. By 2050, between 11 million and 16 million Americans over 65 are expected to have Alzheimer's disease.
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (www.anavex.com) is a specialty pharmaceutical company engaged in the discovery and development of novel drug candidates for the treatment of neurological diseases and cancer. The Anavex proprietary SIGMACEPTOR™ Discovery Platform involves the rational design of drug compounds targeted to specific receptors involved in the modulation of multiple cellular biochemical signaling pathways.
The SIGMACEPTOR™-N program involves the development of novel drug candidates that target neurological and neurodegenerative diseases (Alzheimer's disease, epilepsy, depression, pain). The company's lead drug candidates exhibit high affinity for sigma receptors, which have been extensively documented as potentially valuable drug targets and have demonstrated anti-amnesic and neuroprotective properties. A portfolio of back-up compounds to ANAVEX 2-73 are also in development.
Anavex is a publicly traded company under the symbol AVXL.
Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Forward-looking statements in this press release include that Anavex is advancing ANAVEX 2-73, its lead drug candidate for Alzheimer's disease; that data from this trial indicates that the compound is well tolerated with no dose-limiting toxicities unrelated to the drug's mechanism of action; that preclinical animal studies have shown early signs of efficacy, improvement in the memory of animals and a disease-modifying effect in some cases; that ANAVEX 2-73 is the first of a new class of oral, disease-modifying drugs being studied to potentially treat Alzheimer's disease itself, versus treating its symptoms; and that a portfolio of back-up compounds to ANAVEX-2-73 are also in development. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks and uncertainties inherent in drug discovery and development, which include, without limitation, the potential failure of development candidates to advance through preclinical studies or demonstrate safety and efficacy in clinical testing and the ability to pass clinical trials so as to move on to the next phase, and our ability to finance development or satisfy the rigorous regulatory requirements for new drugs. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Anavex Life Sciences Corp. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
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