Released on: March 11, 2008, 7:34 am

Press Release Author: ANAVEX Life Sciences Corp.

Industry: Pharmaceuticals

Press Release Summary: Anavex Life Sciences Corp. (\"ANAVEX\") (OTCBB: AVXL) today
announced that ANAVEX 7-1037 has demonstrated its ability to significantly delay the
growth of cancerous tumors in patient-derived xenografts during advanced
pre-clinical studies.

Press Release Body: Anavex Life Sciences Corp. (\"ANAVEX\") (OTCBB: AVXL) today
announced that ANAVEX 7-1037 has demonstrated its ability to significantly delay the
growth of cancerous tumors in patient-derived xenografts during advanced
pre-clinical studies. The human tumor xenografts were developed in ANAVEX labs using
a sample taken from a person suffering from clear cell sarcoma. Clear cell sarcoma
is a rare type of melanoma (skin cancer) that is difficult to treat.

In comparative pre-clinical studies, ANAVEX 7-1037 reduced tumor growth by 69% with
minimal side effects. Significantly, Dacarbazine, a currently available chemotherapy
drug used to treat melanoma and other types of cancer, was found to be completely
inactive in the same tests. ANAVEX 7-1037 is the company\'s lead drug candidate for
the treatment of a number of cancers, including that of the breast, colon, prostate
and melanoma. It exhibits a high safety profile and =disease-modifying potential.

\"These results further confirm the potent, anti-cancer activity and chemotherapeutic
potential of ANAVEX 7-1037, even in cancers that are difficult to treat,\" said Dr.
Kontzalis, Chief Executive Officer for ANAVEX. \"We remain committed to developing
first-class, cancer-fighting therapeutics based on our SIGMACEPTORT Discovery
Platform, which utilizes a new class of receptor molecules known as sigma ligands to
influence the origin or development of a disease.\"

ANAVEX 7-1037 More Effective in Pre-Clinical Studies
During pre-clinical studies, ANAVEX 7-1037 was administered directly into the
abdominal cavity of immune-deficient mice at four different dose levels (100, 70, 40
and 10mg/kg). The mice had been inoculated subcutaneously with cancerous human cells
on a \"five days on, two days off\" schedule. ANAVEX 7-1037 was administered beginning
when tumors in advanced-stage subcutaneous mice models reached approximately 250
cubic millimeters in size (day 22 post inoculation). Administration of ANAVEX 7-1037
was stopped when tumors of the control group had grown to approximately 1,000 cubic
millimeters (day 33 post inoculation).
Dacarbazine was used as a control drug and was administered for five consecutive
days at a dose of 80 mg/kg. Each group consisted of at least seven animals, which is
equal to 14 tumors or two tumors per mouse.

Under the experimental conditions tested, the control drug Dacarbazine did not show
any measurable activity against this patient-derived xenograft. In contrast, ANAVEX
7-1037 exhibited significant activity at dosage levels of 100 mg/kg. A deltaT/deltaC
score of 31% was demonstrated, where T is equal to the animals treated with ANAVEX
7-1037 and C is equal to the untreated control group, meaning that tumor growth
volume was reduced by 69% more in the ANAVEX 7-1037 group than in the control group.
The 31% score achieved with ANAVEX 7-1037 is far better (lower) than the 42%
deltaT/deltaC score standard set by the U.S. National Cancer Institute (NCI) to
characterize a compound as a potent anti-cancer drug. These noteworthy results were
achieved after ANAVEX 7-1037 had been administered seven times at a statistically
significant level (post inoculation day of cancer cells, or p.i.d.=33, tumor size,
or p<=0.001) when compared to the tumors of the untreated control mice. The 70 mg/kg
dose of ANAVEX 7-1037 showed an effect on the tumors that was quite close to the NCI
criterion of the 42% limit, again with the best deltaT/deltaC values (p.i.d.=33,
deltaT/deltaC=45%, p=0.003)after the seventh dose of ANAVEX 7-1037 was administered.
The remaining doses that were administered (at 40 and 10 mg/kg) showed a
dose-dependent effect on the tumors but with no significant importance. No
significant weight loss was recorded during the period of the experiment.

ANAVEX continues to conduct experiments in xenografts with a focus on melanoma and
other tumors that in-vitro methodology (i.e. screening of potential candidate
compounds for toxicity and efficacy using various cancer cell cultures) has
suggested would respond better to the agent.
ANAVEX 7-1037 has been previously reported to exhibit high affinity for sigma-1
(nanomolar) receptors and moderate (micromolar) affinity for sigma-2 receptors and
sodium channels. In addition, ANAVEX 7-1037 has been shown to induce selective
apoptosis (programmed cell death) in HCT116 colon cancer cells in vitro, as detailed
in a press release dated December 11, 2007.

These features of ANAVEX 7-1037 have made it one of the company\'s lead compounds in
its efforts to develop pioneering, new anti-cancer drugs for the treatment of solid
tumors. ANAVEX 7-1037 has so far been tested in vitro against more than 20 human
cancer cell lines representing different types of cancer - it has demonstrated
significant in vitro tumor-growth-delaying activity against most of them, as
represented by the GI50 (i.e. 50% of the dose required for tumor growth inhibition)
of the compound. As such, ANAVEX 7-1037 has been advanced for testing against
additional xenografts in order to further establish and confirm its potential as a
potent anti-cancer drug.

ANAVEX 7-1037 is being studied for activity against a rare type of melanoma called
clear cell sarcoma. Tests are performed by ANAVEX on xenografts developed directly
from a sample that was surgically removed from a patient (primary/patient-derived
xenografts) suffering from the disease. The patient had been treated with
Dacarbazine. This study was implemented as a first step in ANAVEX\'s efforts to test
the activity of the compound against melanoma, as the in-vitro results suggested
that the compound may be selective against certain cancer types (such as melanoma,
colon, breast and prostate).

Drugs that act on the underlying cause of the disease and/or slow/reverse the
progression of the disease, which have a novel mode of action that could fulfill
some of the most urgent medical needs like efficacy, drug resistance, side effects,
administration and affordability, are needed and have significant market potential.
ANAVEX is developing drug candidates demonstrating these properties.

About Sigma Receptors
Sigma receptors are a unique family of proteins, present mainly in the central
nervous system (CNS) but also in various peripheral tissues. The receptors are
classified into two subtypes: the sigma-1 and sigma-2. These subtypes are
distinguishable pharmacologically, functionally and by molecular size. Sigma-1
receptors have been cloned and shown to be distinct from any known receptor class.

Both sigma receptor subtypes are highly expressed in tumor cell lines from various
tissues. These include neuroblastomas, glioma, melanoma and carcinoma cell lines of
breast, prostate and lung. Interestingly, sigma receptors are more highly expressed
in rapidly proliferating cells and are down-regulated when cells become inactive.
Their high density in various tumor cell types, and particularly in proliferating
cells, makes sigma receptors a potential target for diagnostic imaging as well as
therapeutic agents. Recent data suggests that sigma-2 receptor agonists induce cell
death in various tumor cell lines including prostate and breast carcinoma, with
features consistent with apoptosis. Sigma-2 receptor agonists are reported to induce
apoptosis by a novel mechanism, exhibiting similar potency in tumors with wild-type
or mutant p53 gene, unlike other agents such as DNA-damaging agents. The mechanism
of sigma-2 receptor-mediated apoptosis differs from that of agents that trigger DNA
damage, based on observations with inhibitors of caspases. The involvement of
distinct apoptotic pathways is further supported by the ability of sigma agonists to
potentiate the cytotoxicity of DNA-damaging antineoplastics in various tumor cell
lines.

About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (www.anavex.com) is an emerging biopharmaceutical company
engaged in the discovery and development of novel drug targets for the treatment of
cancer and neurological diseases. The company\'s proprietary SIGMACEPTORT Discovery
Platform involves the rational drug design of compounds that fulfill specific
criteria based on unmet market needs and new scientific advances. Selected drug
candidates demonstrate high, non-exclusive affinity for sigma receptors, which are
involved in the modulation of multiple cellular biochemical signaling pathways.
ANAVEX\'s SIGMACEPTORT-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 SIGMACEPTORT-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 and lung.

Forward-Looking Statements
This press release contains forward-looking statements for Anavex Life Sciences
Corp. that 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. Among other things, there can be no assurance that any of the Company\'s
development efforts relating to its product candidate, Anavex 7-1037, will be
successful, or such product candidate will be successfully commercialized or that
Anavex 7-1037 will have the potential to treat melanoma, colon cancer or other types
of human cancer or that Anavex 7-1037 will provide clinically relevant advantages
over other competitive compounds in development or that sigma ligands will have the
potential to be a new class of drugs to treat colon cancer or other types of human
cancer. Other risks that affect forward-looking information contained in this press
release include the high degree of risk associated with drug development, results of
further research and development, the impact of competition and of technological
advances and other risks detailed to Anavex\'s SEC filings. Other than as required by
federal securities laws, we undertake no obligation to publicly update or revise any
of our forward-looking statements, whether as a result of changed circumstances, new
information, future events, or for any other reason occurring after the date of this
news release.

Further Information

Research & Business Development
Email: info@anavex.com
Shareholder & Media Relations
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Outside North America: +1 (416) 489-0092
ir@anavex.com
www.anavex.com



Web Site: http://www.anavex.com

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Email: info@anavex.com
Shareholder & Media Relations
Toll-free: 1-866-505-2895
Outside North America: +1 (416) 489-0092