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Annual General Meeting of the Shareholders of Anavex Life Sciences Corp.

The Annual General Meeting of Anavex Life Sciences Corp. shareholders was held on May 25, 2007 in Geneva, Switzerland

Geneva, Switzerland — June 5, 2007

Anavex Life Sciences Corp. (the “Company”) (OTCBB:AVXL) a biopharmaceutical company, announced the results of its recently held Annual General Meeting.

At the Annual General Meeting shareholders elected Dr. Panos Kontzalis, Mr. Harvey Lalach and Dr. Alexandre Vamvakides as directors of the Corporation, ratified the election of Amisano Hanson Chartered Accountants as the Company’s independent registered public accounting firm , as well as, ratified and approved the company’s 2007 Stock Option Plan unanimously of the 9,975,000 shares cast by shareholders.

In his address to shareholders, Dr. Kontzalis, CEO of the company provided an update on the latest in vivo preclinical data for ANAVEX 1-41 and ANAVEX 2-73 lead candidates as they were presented in a poster at the 8th Colloque de la Societe des Neurosciences meeting held in Montpellier, France (Press Release, May 23, 2007).

Dr. Kontzalis went on to say that “the results of our two lead candidates (ANAVEX 1-41 and ANAVEX 2-73) have shown potent anti-amnesic and neuroprotective activity in Alzheimer’s Disease animal models. By measuring the Aβ25-35 peptide-induced oxidative stress, it was shown that both drug candidates reversed the learning deficits and lipid peroxidation in the hippocampus. Both compounds are in a late preclinical development and it is expected to be filed for an IND (Investigational New Drug application) towards the end of the year. Moreover, the Company’s current Oncology program, Sigmaceptor-C, has demonstrated encouraging results with regards to efficacy on tumor growth as it was derived from preliminary xenograft studies (data to be published). It is anticipated to initiate discussions with leading pharmaceutical companies which have already expressed strong interest for both Anavex’s Sigmaceptor-N and Sigmaceptor-C programs”.


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