8/15/2013 10:51:07 AM
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NEW YORK, Aug. 15, 2013 /PRNewswire/ - Anavex Life Sciences Corp. ("Anavex" or
the "Company") (OTCQB: AVXL) released the following letter to its
Dear Fellow Shareholders:
Amid its advancement over the past few years, Anavex Life Sciences Corp.
("Anavex") has experienced some change. One of these changes led to my
hiring as Chief Executive Officer ("CEO") and I am extremely excited to
be leading our Company into the future. We have also had the
opportunity to update our corporate strategy in a way that will create
the most value for Anavex and its shareholders. To that end, while I
have served as Anavex's CEO for just over one month, I felt it
important to write and provide you with a general update on our
activities, how we are refocusing our efforts in the short-term and
where we see opportunities for long-term growth of the Company.
I am pleased to report that, in the second half of 2013, we successfully
addressed the financial stability of the Company by raising cash as
well as significantly reducing outstanding liabilities in exchange for
shares of Anavex. In addition, we obtained a $10-million funding
commitment, which gives Anavex flexibility for the future. As a
result, we can now focus on strategic aspects of our business.
We have moved our offices to New York, NY and plan to gradually expand
our team. It is our intention to selectively add new qualified members
with public company experience and/or healthcare and specific medical
backgrounds to both our Board of Directors as well as our Scientific
Advisory Board. We believe this will increase the Company's corporate
governance standard and complement our existing expertise in clinical
Anavex is now in a position to present and attend investor conferences
more frequently and build an active dialogue with healthcare
investors. With this in mind, we are planning a more proactive role in
our investor communications and plan to attend at least one investor
conference in 2013 and several more in 2014.
The Company will continue clinical trials by advancing ANAVEX 2-73,
developed to treat Alzheimer's disease, into a Phase Ib/IIa study in
patients. Our successful Phase I human clinical trial of ANAVEX 2-73
demonstrated a solid safety signal and encouraging data with which to
move forward. We are poised to continue the clinical development of
ANAVEX 2-73 and have mapped out a detailed plan to do so. Hence, we
intend to move forward with the Phase Ib/IIa in patients, which we
expect to be announced within the next several months.
Anavex intends to expand its core development capabilities through the
use of experienced consultants and contract research organizations. In
addition, we are actively exploring additional synergistic in-licensing
opportunities, which is a critical prerequisite to broaden the pipeline
and move the development program forward. Throughout development we
will be looking to partner with medium to large pharmaceutical
companies as key milestones are achieved.
I am genuinely excited about Anavex's assets, its science and its
future. We are continuing to test ANAVEX 2-73 and other ANAVEX 2-73
molecule derivatives in other indications in order to maximize its
potential for addressing several critical medical conditions.
Please stay tuned for future announcements. In the meantime, I thank you
for your ongoing support of our Company.
With warm regards,
Christopher U. Missling, PhD
Chief Executive Officer
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. Conducted 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 set forth in the Company's most
recent Annual Report on Form 10-K filed with the SEC. 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.
Anavex Life Sciences Corp.
Research & Business Development
Shareholder & Media Relations
Outside North America: +1 (416) 489-0092
SOURCE Anavex Life Sciences Corp.
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