VANCOUVER, May 6, 2013 /CNW/ - Anavex Life Sciences Corp. ("Anavex")
(OTCQB: AVXL) today announced that it has been invited to submit a full
grant application to the Alzheimer's Drug Discovery Foundation ("ADDF") for a Phase 2a trial of ANAVEX 2-73. Since 1998, the ADDF has
granted more than $51 million in venture philanthropy funding to
projects with potential viability in the market. Subsequent to the
ADDF's initial funding, grantees have received commitments of over $2
billion in follow-on funding from government, pharmaceutical companies
and venture capital firms to further advance their drugs.
"We are excited by this invitation to submit a funding application for a
Phase 2a trial of ANAVEX 2-73," said Tom Skarpelos, director of
Anavex. "The data generated for ANAVEX 2-73 to date indicates that it
has the potential to prevent, halt and/or reverse the course of
Alzheimer's disease, which could improve the lives of millions of
In pre-clinical studies, ANAVEX2-73 demonstrated cognitive benefit, the
ability to protect neurons to prevent cell death, and a clear synergic
effect with Aricept® (donepezil HCl), a leading, FDA-approved
Alzheimer's treatment. A Phase 1 human clinical trial of ANAVEX 2-73
has also been successfully completed.
The objective of the proposed Phase 2a clinical trial is to demonstrate
objective biomarker data that can be correlated to clinical findings.
It would also seek to confirm the pre-clinical synergy observed when
combining ANAVEX 2-73 with donepezil in patients with Alzheimer's
disease. Data generated would help determine the decision to proceed
to a larger Phase 2 trial.
The invitation to submit a full application was received following the
filing by Anavex of a Letter of Intent for a grant titled, "Clinical
phase 2a study of ANAVEX 2-73 in patients using FDG-PET imaging as a
functional biomarker." Anavex now intends to file a full application
with the ADDF. There can be no assurance that the Company's
application for a grant from the ADDF will be approved.
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (www.anavex.com) is a pharmaceutical company engaged in the development of novel drug
candidates. ANAVEX 2-73, a drug candidate developed to treat
Alzheimer's disease through disease modification, has undergone an
initial Phase 1 human clinical trial and was well tolerated in doses up
to 55mg. Sponsored pre-clinical studies indicate that ANAVEX 2-73
demonstrates anti-amnesic and neuroprotective properties. Anavex is a
publicly traded corporation quoted as AVXL.
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 pass clinical trials so as to move on to the
next phase, our ability to finance development or satisfy the rigorous
regulatory requirements for new drugs, our ability to attract and
retain quality personnel, and that despite positive results, our
competitors may offer better or cheaper alternatives. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. 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.
SOURCE: Anavex Life Sciences Corp.
For further information:
Anavex Life Sciences Corp.
Research & Business Development
Shareholder & Media Relations
Outside North America: +1 (416) 489-0092