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ANAVEX reports sigma receptor review published in leading journal

Geneva, Switzerland August 27, 2009 – Anavex Life Sciences Corp., (“ANAVEX” or the “Company”) (“ANAVEX”) (OTCBB: AVXL) reports the publication of a comprehensive review of the pharmacology of sigma receptors and their possible clinical application in the peer-reviewed Journal of Pharmacology & Therapeutics.

The paper provides new insight into sigma-1 receptors and their potential ability to alter the course of Alzheimer’s disease, other CNS conditions and cancer. In their review, leading scientists Dr. Tangui Maurice and Dr. Tsung-Ping Su emphasize that sigma-1 receptors effect the modulation of various ion channels, including calcium, potassium, sodium and chloride ions, which allow atoms to enter or leave a cell and change its behavior. Further work may show the impact on mitochondria, a cell’s principal energy source. Dysfunction in the mitochondria is a known contributor to neurodegenerative diseases such as Alzheimer’s and a wide range of other diseases. ANAVEX believes that mitochondrial dysfunction can be modified using sigma receptors to guard against oxidative stress, which damages and destroys neurons and is believed to be a primary cause of Alzheimer’s disease.

“This review sheds new light on the field of sigma receptors,” said Dr. Herve de Kergrohen, CEO of ANAVEX. “ANAVEX is pleased that academic leaders are communicating the hope that this new understanding of mechanisms of action in the field of sigma receptors could bring to a range of conditions. This is particularly relevant to Alzheimer’s patients, their families and caregivers.”

ANAVEX is the leader in the discovery and development of new drugs that specifically target sigma receptors. The company’s lead compound for Alzheimer’s disease, ANAVEX 2-73, is being prepared to enter clinical trials in 2010. ANAVEX 2-73 is a selective sigma-1 receptor agonist (Vamvakides, 2002; Espallergues et al., 2007) and has demonstrated potent neuroprotective, anti-amnesic, anti-convulsive and anti-depressive activity in pre-clinical studies.

To read the complete report by Drs Maurice and Su, visit the publications section at www.anavex.com.