NEW YORK, Sept. 23, 2013 /PRNewswire/ - Anavex Life Sciences Corp. ("Anavex" or
the "Company") (OTCQB: AVXL) today commented on the World Alzheimer Report 2013 (PDF), which examines the latest global and regional trends of older
people needing dementia care. The report forecasts that the cost and
burden of caring for people with dementia will approximately triple by
2050 because a cure has not yet been discovered. Those diagnosed with
Alzheimer's disease constitute the largest portion of people suffering
"With the world's population aging, dementia and Alzheimer's disease
have become one of the biggest health challenges facing our
generation," said Christopher U. Missling, PhD, President and Chief
Executive Officer of Anavex. "We are proud to be playing our part to
find a cure for Alzheimer's by advancing ANAVEX 2-73, our lead
compound, as an innovative and potentially important treatment."
According to the World Alzheimer Report 2013, the current worldwide cost
of dementia including Alzheimer's care is over US$600 billion, or
approximately 1% of global Gross Domestic Product (GDP). In total, 35
million people around the world are currently living with the
condition. This number is expected to double by 2030 and more than
triple by 2050 to 115 million.
The report states that 13% of the global population aged 60 and over
require long-term care, which is primarily about caring for people with
dementia. It estimates that approximately 80% of older people in
nursing homes are living with dementia.
Treating Alzheimer's disease
Five drugs are currently approved by the FDA to treat Alzheimer's
disease. Their combined sales last year exceeded $6 billion, despite
only reducing Alzheimer's symptoms for approximately half of the
individuals who take them for between six and 12 months.
"Alzheimer's is a devastating disease for the individuals living with
it, their loved ones and caregivers and our approach has always been to
efficiently develop innovative therapies for serious diseases," adds
In pre-clinical studies, ANAVEX 2-73 produced up to 80% greater reversal
of memory loss and neuroprotection in Alzheimer's disease models when
used in combination with Aricept® (donepezil) versus when the drugs
were used individually. ANAVEX 2-73 is an orally available small
molecule and pre-clinical data to date indicates that it has the
potential to prevent, halt and/or reverse the course of Alzheimer's
disease. The Company looks forward to commencing a Phase 1b trial of
ANAVEX 2-73, potentially combined with a Phase 2a study in patients,
especially in light of the very encouraging synergic effect when tested
in combination with Aricept® (donepezil).
The World Alzheimer Report 2013 was independently researched and
authored by Prof. Martin Prince, Dr. Matthew Prina and Dr. Maëlenn
Guerchet on behalf of the Global Observatory for Ageing and Dementia
Care, which is hosted at the Health Service and Population Research
Department, King's College London. It was supported by Alzheimer's
Disease International and King's College London.
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.