ANAVEX 2-73 named 2010's 'most promising trial drug' by Alzheimer's Weekly

Anavex Life Sciences Corp. ("Anavex", AVXL.OB) announced today that ANAVEX 2-73 has been named 2010's "most promising trial drug" by the editorial staff at Alzheimer's Weekly.  The publication selected the ANAVEX 2-73 trial from a field of over 100 trials that treat dementias such as Alzheimer's and following the review of more than 10,000 articles.  Staffers and clinical experts of Alzheimer's Weekly said that Anavex stands out when scrutinized against their key criteria for potential treatments, including small molecule drugs, oral bioavailability, possibility for disease modification, targeting multiple pathways, near-term availability and entering human trials.

"It is extremely rewarding for our team to receive such significant and independent third-party recognition for ANAVEX 2-73 and our unique approach in Alzheimer's disease," said Dr. Cameron Durrant, Executive Chairman of Anavex Life Sciences Corp.  "The data generated from our extensive preclinical program suggests that ANAVEX 2-73 has the potential to be safe and well tolerated.  Furthermore, it has shown encouraging early signs of efficacy in preclinical animal studies."

The full Alzheimer's Weekly article is available here: http://www.AlzWeek.com/node/970.

ANAVEX 2-73 is the first of a new class of compounds that act through sigma-1 receptor agonism as well as muscarinic cholinergic effects and modulation of endoplasmic reticulum stress thought to trigger a series of intracellular effects which modify ion channel signaling at the mitochondrial level.

Anavex has filed the regulatory submission to begin clinical studies of ANAVEX 2-73.  The Phase I study will evaluate the maximum tolerated dose, pharmacokinetics, pharmacodynamics, safety and bioavailability of ANAVEX 2-73.  A Phase IIa study in patients with Alzheimer's disease and Mild Cognitive Impairment, currently scheduled to commence in mid 2011, may provide efficacy data as well as further safety data.