Dr. Cameron Durrant Named One of PharmaVOICE’s 100 Most Inspiring People in the Pharmaceutical Industry for 2010

Recognized for leadership, innovation in annual ranking of top 100 industry professionals

Califon, NJ — August 30, 2010 — Anavex Life Sciences Corp., (“Anavex” or the “Company”) (OTCBB: AVXL) is pleased to announce that Dr. Cameron Durrant, the company’s Executive Chairman, has been named in this year’s “PharmaVOICE 100” as one of the 100 most inspiring people in the life sciences sector. Dr. Durrant was recognized in the prestigious annual ranking for his innovative approach and leadership ability by colleagues and peers in the pharmaceutical industry.

“I’m thrilled to have been chosen by PharmaVOICE as one of this year’s honorees,” said Dr. Durrant. “This recognition is very much a testament to the accomplishments and professionalism of the people I’ve worked with in the past and those I am fortunate to work with currently. I’m energized by the new challenges that await us going forward.”

The annual ranking, which includes a feature profile on Dr. Durrant, appears in the July/August 2010 issue of PharmaVOICE Magazine. A link to the online edition is available in the media section.

The PharmaVOICE rankings include several categories, such as Researchers & Scientists, Marketers and Clinical Specialists; Dr. Durrant was chosen in the “Commanders & Chiefs” category of executive leaders. The profile article refers to Dr. Durrant as a “visionary in his roles as a leader of new organizations and divisional head in large companies.” The profile also notes that Dr. Durrant’s “leadership track record equips him well” as Anavex moves its “oral, disease-modifying, first-in-class treatment for Alzheimer’s disease (ANAVEX 2-73) through clinical trials.”

Dr. Durrant is now a four-time honoree of the “PharmaVOICE 100”, as well as a past national finalist for the Ernst & Young Entrepreneur of the Year award. A seasoned pharmaceutical industry veteran, he has held executive positions at several global pharmaceutical companies, including Merck & Co., GlaxoSmithKline, Pharmacia (now part of Pfizer) and Johnson & Johnson. He has also been CEO of two specialty pharmaceutical companies, PediaMed and Spherics. The PharmaVOICE article also recognizes Dr. Durrant’s work as founder of PediatRx, which he is preparing to establish as a leading specialty pharma company for children hospitalized with serious conditions.

Immediately prior to the release of the “PharmaVOICE 100” rankings, Sources, a widely used resource by business and industry journalists, announced Dr. Durrant’s inclusion in its experts directory. The online version of Dr. Durrant’s expert profile may be viewed from the media section.

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™ 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.

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.

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