ANAVEX 2-73: JOURNAL OF PSYCHOPHARMACOLOGY PUBLISHES ANTI-AMNESIC AND NEUROPROTECTIVE DATA AGAINST AMYLOID TOXICITY FOR FIRST OF A NEW CLASS IN ALZHEIMER'S DISEASE

Profile comparison to donepezil, citing greater potential benefits

CALIFON, NJ, Sept. 13 /PRNewswire-FirstCall/ - Anavex Life Sciences Corp. ("Anavex") (OTCBB: AVXL) today announced that the Journal of Psychopharmacology has published an original paper showing that ANAVEX 2-73 and its only and active metabolite ANAVEX 19-144 alleviate neurotoxicity and cognition deficits associated with Alzheimer's disease.

The paper, titled "Anti-amnesic and neuroprotective potentials of the mixed muscarinic receptor/sigma 1 ligand ANAVEX 2-73, a novel aminotetrahydrofuran derivative", is available online at http://jop.sagepub.com/cgi/content/abstract/0269881110379286v1?papetoc and cites biochemical, morphological and behavioral evidence from experiments conducted jointly between INSERM at University of Montpellier 2 and Anavex Life Sciences Corp.

Validated and well-recognized, standard non-transgenic animal models were used to show statistically significant neuroprotective effects via both muscarinic cholinergic and sigma-1 receptor agonism effects.

The authors compare the pharmacological profile of ANAVEX 2-73 to that of donepezil (marketed as ARICEPT(R)), the leading-selling drug approved for the treatment of Alzheimer's disease, noting the greater potential benefits of ANAVEX 2-73. Amyloid-beta peptide has been shown to result in mitochondrial and endoplasmic reticulum stress, intracellular calcium dysregulation leading to oxidative stress and apoptosis (cell death). The authors point to the role of ANAVEX 2-73 in prevention of oxidative stress and apoptosis and other data suggesting modulation of Bcl-2 and reactive oxygen species.

Dr. Tangui Maurice, one of the authors of the paper, stated, "ANAVEX 2-73 reversed the neurotoxicity of an oligomeric preparation of amyloid-beta peptide used to mimic Alzheimer's in mice when given after the agent had been administered. Furthermore, when given simultaneously with the agent, ANAVEX 2-73 blocked the appearance of learning impairments. These exciting findings and the added benefit of the active metabolite conveying anti-amnesic and neuroprotective activity point to potential benefit in Alzheimer's disease for this novel agent."

"These findings and publication come at an excellent time as we prepare our Phase I/IIa clinical study for ANAVEX 2-73," said Dr. Cameron Durrant, Executive Chairman of Anavex. "We expect to be able to dose healthy human volunteers this year with ANAVEX 2-73 and to have results, which may include some patient efficacy data, before the end of 2011."

ANAVEX 2-73 is the first of a new class of wholly owned compounds, which act through sigma-1 receptor agonism as well as muscarinic cholinergic effects. ANAVEX 2-73 also modulates endoplasmic reticulum stress and triggers a series of intracellular effects thought to modify ion channel signalling at the mitochondrial level. The company has completed preclinical studies, which have included oral and IV dosing, including 28-day toxicity studies in rats, mice and dogs.

About Anavex Life Sciences Corp.

Anavex Life Sciences Corp. (www.anavex.com) is a biopharmaceutical company engaged in the discovery and development of novel drug candidates for the treatment of neurological diseases and cancer. The company's proprietary SIGMACEPTOR(TM) Discovery Platform involves the rational design of drug compounds that are targeted to specific receptors involved in the modulation of multiple cellular biochemical signaling pathways.

ANAVEX's SIGMACEPTOR(TM)-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.

Anavex is a publically traded company under the symbol "AVXL".

Forward-Looking Statements

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 our drug compounds show promise to combat certain diseases. 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 file an IND or commence clinical studies. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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.

ARICEPT(R) is a registered trademark of Eisai Co., Ltd. and is co-promoted in the United States by Eisai Inc. and Pfizer Inc.

CONTACT: Anavex Life Sciences Corp., Research & Business Development, Email: [email protected]; Shareholder & Media Relations, Toll-free: 1-866-505-2895, Outside North America: +1 (416) 489-0092, Email: [email protected], www.anavex.com

SOURCE Anavex Life Sciences Corp.