Geneva, Switzerland — November 2, 2007 — Anavex Life Sciences Corp. (“Anavex” or the “Company”) (OTCBB: AVXL) is pleased to announce that it has engaged Primoris Group Inc. to provide investor relations services to the Company. Primoris Group is a full-service investor relations firm based in Toronto,Canada.Primoris Group will implement a communications program to support Anavex’s corporate growth strategy. Under the terms of the one-year agreement, which commencedNovember 1, 2007, Primoris Group will be paid a fee of $5,000 per month. Primoris Group has also been granted options to purchase 50,000 common shares of the Company exercisable for a period of five years from the date of issuance, at an exercise price of $3.75 per common share.
“Anavex is committed to its long-term growth strategy and to delivering value for the company and its shareholders,” said Harvey Lalach, President of Anavex. “Primoris Group has a strong, proven track record in sharing company success stories with large and diverse audiences of investors. We look forward to increasing our recognition with individual investors and the larger financial community in support of our corporate initiatives.”
Anavex Life Sciences Corp. is a biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases utilizing its proprietary drug discovery Sigmaceptor™ Technology Platform consisting of a fairly new class of receptors, (sigma receptors), involved in the modulation of multiple cellular biochemical signaling pathways.
Anavex’s Sigmaceptor™-N program involves the discovery and development of novel and original drug candidates targeting neurological and neurodegenerative diseases. The Company’s lead drug candidates exhibit high affinity for sigma receptors with strong evidence for anti-amnesic, nooanaleptic, neuroprotective, anti-apoptotic, anti-oxidatitive, anti-inflammatory, anti-convulsive, anti-depressant, anti-fatigue, anti-addictive and anxiolytic properties.
Anavex’s Sigmaceptor™-C program involves the discovery and development of novel and original drug candidates targeting cancer. The Company’s lead drug candidates exhibit high affinity for sigma receptors with strong evidence for selective pro-apoptotic, anti-metastatic and low toxicity properties in various types of cancer such as colon, prostate, breast and lung.
LEGAL NOTICE REGARDING 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. 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.