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Anavex relocates executive management office to New Jersey

CALIFON, NJ, June 7, 2010 – Anavex Life Sciences Corp., (“ANAVEX” or the “Company”) (OTCBB: AVXL) today announced that, effective immediately, the company’s executive management office will be relocated from Geneva, Switzerland to Califon, New Jersey.

Dr. Cameron Durrant, Executive Chairman of ANAVEX, said the decision to move executive management offices to New Jersey was a strategic one, placing a key part of the company within a major hub of pharma industry activity.

“In addition to furthering ANAVEX’s visibility, being located in a premier biopharmaceutical location will help us generate corporate and business development opportunities for the company and assist in our corporate finance goals,” said Dr. Durrant. “We have been encouraged by discussions with prospective industry partners and the proximity to such players will be an important benefit for Anavex as we move forward with ANAVEX 2-73 and our other compounds.”

The relocation to New Jersey follows on Anavex’s recent report of promising results from animal studies with ANAVEX 2-73, the company’s lead compound for the treatment and modification of Alzheimer’s disease. ANAVEX 2-73 is a first of a new class of oral, disease-modifying drugs for the treatment of Alzheimer’s disease, which employ an approach that targets neither amyloid, nor tau, nor mitochondrial pore blockade. ANAVEX is preparing to enter Phase 1 clinical trials with ANAVEX 2-73, later this year.