Anavex Life Sciences Corp. Announces Research Agreement with University of Paris 5-Rene Descartes

Geneva, Switzerland — April 2, 2007 — Anavex Life Sciences Corp. (the “Company”) (OTCBB: AVXL), a biopharmaceutical company, announced today that it has entered into a research agreement with the department of Pharmacology and Biological Sciences at Paris 5 University-Rene Descartes, France, to investigate the neuroprotective action of Anavex’s tetrahydrofuranic compound ANAVEX 19-144 (AE37Met) in transient focal cerebral ischemia animal models. With this new agreement, Anavex Life Sciences Corp. partners with one of France’s leading research universities. The research program involves two parts, a preliminary study of the effects of ANAVEX 19-144 on mean arterial blood pressure and a main study on cerebral ischemia.

Dr. Panos Kontzalis, PhD, CEO at Anavex Life Sciences Corp., commented, “This research agreement with the University of Paris 5 represents a valuable addition to our expanding portfolio surrounding the family of sigma receptors and broadens our ability to fully explore the potential of Anavex’s novel sigma receptor ligands in the therapeutic field of cerebral ischemia.”

About ANAVEX 19-144 (AE37Met)

ANAVEX 19-144 is a new tetrahydrofuranic compound in advanced preclinical phase for the treatment of epilepsy as monotherapy or as adjunct therapy to existing drugs. ANAVEX 19-144, presents mixed pharmacological activity involving muscarinic, sodium channel, NMDA and sigma-1 components showing prominent anti-amnesic, anticonvulsive and anti-depressant potential. The drug acts as simultaneous antagonist on presynaptic M2 autoreceptors and on the presynaptic M3 muscarinic heteroreceptors of the glutamatergic neuronal endings, in synergy with its agonism on the intracellular sigma-1 receptor mainly located on the endoplasmic reticulum concerning the first (anti-amnesic) activity and, at higher doses (5 – 50 mg/kg per os or ip) as antagonist on sodium and calcium channels, weak antagonist of NMDA receptors, concerning the anticonvulsive and antidepressant activity.

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