ANAVEX APPOINTS DR. JEFFREY CUMMINGS TO ITS SCIENTIFIC ADVISORY BOARD

HOBOKEN, NJ, March 1 /PRNewswire-FirstCall/ – Anavex Life Sciences Corp. (“Anavex”)
(OTCBB: AVXL) today announced the appointment of Dr. Jeffrey Cummings
to the Scientific Advisory Board as a clinical expert.  The Scientific
Advisory Board works closely with the company to support development of
the Anavex product pipeline, including its lead compound ANAVEX 2-73,
which is being studied for Alzheimer’s disease and is scheduled to
enter Phase I clinical trials shortly.  Dr. Cummings is the third
clinical expert serving on the Anavex Scientific Advisory Board,
alongside Drs. Paul Aisen and Rachelle Doody.

Dr. Cummings is Professor of Neurotherapeutics and Drug Development in
the Neurological Institute, Cleveland Clinic and Director of the
Cleveland Clinic Lou Ruvo Center for Brain Health, Las Vegas, Nevada
and Cleveland, Ohio. Dr. Cummings was formerly the Augustus S. Rose
Professor of Neurology and Professor of Psychiatry and Biobehavioral
Sciences at the David Geffen School of Medicine at UCLA, Los Angeles,
California. He was Director of the Mary S. Easton Center for
Alzheimer’s Disease Research and Director of the Deane F. Johnson
Center for Neurotherapeutics at UCLA.  Dr. Cummings has expertise in
neuropsychiatric assessment, outcomes in clinical trials, clinical
trial design and analysis, and global clinical trials and is an
experienced consultant to industry.

Dr. Cummings has authored more than 500 peer-reviewed papers and 30
books on Alzheimer’s disease, neuropsychiatry, and clinical trials. He
is a member of the Alzheimer’s Disease Cooperative Study (ADCS), the
National Institute of Neurological Disorders and Stroke (NINDS)
Neuroprotection Exploratory Trials in Parkinson’s Disease (NET-PD)
oversight committee, American College of Neuropsychopharmacology,
American Society for Experimental Neurotherapeutics, American Academy
of Neurology, American Neurologic Association, American
Neuropsychiatric Association (past president), Behavioral Neurology
Society (past president), and the American Association of Geriatric
Psychiatry (honorary member).

Dr. Cummings graduated magna cum laude from the University of Wyoming,
Laramie and obtained his M.D. degree (with thesis) from the University
of Washington, Seattle. He completed internship at Hartford Hospital in
Hartford, Connecticut and did his neurology residency at Boston
University, Boston, Massachusetts. He had his specialty training in
Behavioral Neurology at Boston University and pursued advanced studies
in neuropsychiatry and neuropathology at the National Hospital for
Nervous Diseases, Queen Square, London. Among many other awards, Dr.
Cummings received the 2010 Distinguished Scientist Award from the
American Association of Geriatric Psychiatry and the Ronald and Nancy
Reagan Research Award from the National Alzheimer’s Association (2008),
the Research Award from the John Douglas French Alzheimer’s Research
Foundation (2008) and the Henderson Award of the American Geriatric
Society (2005).  Dr. Cummings’ interests embrace the neuropsychiatry of
neurologic disorders, biomarkers for neurodegenerative diseases, and
clinical trials and drug development for neurologic diseases.

“We are honored that Dr. Cummings has joined our Scientific Advisory
Board, in addition to Drs. Aisen and Doody. All three are highly
respected key opinion leaders in Alzheimer’s disease.  Dr. Cummings’
extensive knowledge and expertise in drug development, biomarkers and
clinical trials in Alzheimer’s disease will be instrumental in
supporting our clinical development plans,” said Dr. Cameron Durrant,
Executive Chairman of Anavex. 

“I am excited to join the Anavex Scientific Advisory Board.  It is my
strong desire to see new and promising drugs move along the development
path in Alzheimer’s disease and I believe ANAVEX 2-73, with its unique
mechanism of action, may be a promising drug.  The traditional
beta-amyloid approach may be losing ground and with ANAVEX 2-73 we will
explore a different treatment approach, which has interesting data to
date,” said Dr. Cummings.

About Alzheimer’s Disease

While Alzheimer’s disease 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 5.3 million Americans are currently living
with Alzheimer’s disease. The number of Americans aged 65 and over with
Alzheimer’s is estimated to reach 7.7 million in 2030.  By 2050,
between 11 million and 16 million Americans over 65 are expected to
have Alzheimer’s disease.

About ANAVEX 2-73

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. 

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(TM) 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(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 publicly 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 ANAVEX 2-73 is scheduled to enter Phase I
clinical trials shortly; that Dr. Cummings’ contributions in the
development of ANAVEX 2-73 will be of great importance; that ANAVEX
2-73 will have an impact on the disease process and treatment in
patients and 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.  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, our ability to retain key employees 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.

For Further Information

Anavex Life Sciences Corp.

Research & Business Development

Email: info@anavex.com

Shareholder & Media Relations

Toll-free: 1-866-505-2895

Outside North America: +1 (416) 489-0092

Email: ir@anavex.com 

www.anavex.com

SOURCE Anavex Life Sciences Corp.