Anavex Strengthens Board of Directors

Geneva, Switzerland — December 17, 2007

Anavex Life Sciences Corp. (“ANAVEX”) (OTCBB: AVXL) today announced the appointment of Dr. Cameron Durrant to its Board of Directors. Dr. Durrant is currently Worldwide Vice President of Virology Global Strategic Marketing at Johnson & Johnson (NYSE: JNJ).

“ANAVEX is both pleased and privileged to welcome Dr. Durrant to our Board,” said Dr. Kontzalis, Chief Executive Officer for ANAVEX. “Dr. Durrant is a medically trained MBA who has a unique entrepreneurial background coupled with major international pharmaceutical experience. This combination of biotech and business development credentials adds considerable depth to the ANAVEX Board and we are confident that Dr. Durrant will help guide us as we work to aggressively execute our business plan.”

“This is an exciting time for ANAVEX and I welcome the opportunity to contribute to the company’s continued growth,” said Dr. Durrant. “ANAVEX’s novel SIGMACEPTOR technology platform offers great potential for both central nervous system and cancer applications.”

Before joining Johnson & Johnson, Dr. Durrant was President and CEO of Pediamed Pharmaceuticals. Dr. Durrant’s background also includes executive-level positions with Merck & Co., GlaxoSmithKline and Pharmacia (now Pfizer). He was a regional winner and national finalist for Ernst & Young’s Entrepreneur of the Year award in 2005. Dr. Durrant holds a MBA from Henley Management College at Oxford and a MB and BCh (equivalent to American MD degree) from the Welsh National School of Medicine in Cardiff, U.K.

ANAVEX’s SIGMACEPTOR™-N program involves the development of novel and original drug candidates, targeting neurological and neurodegenerative diseases (Alzheimer’s disease, epilepsy, depression, etc.). The company’s lead drug candidates exhibit high, non-exclusive affinity for sigma receptors with strong evidence for anti-amnesic, neuroprotective, anti-apoptotic, anti-oxidative, anti-inflammatory, anti-convulsive, anti-depressant and anxiolytic properties.

ANAVEX’s SIGMACEPTOR™-C program involves the development of novel and original drug candidates targeting cancer. The company’s lead drug candidates exhibit high, non-exclusive affinity for sigma receptors with strong evidence for selective pro-apoptotic, anti-metastatic and low toxicity properties in various types of solid cancers such as colon, prostate, breast, lung, etc.