AVXL Anavex Life Sciences Corporation

Anavex Life Sciences Corp. (“Anavex” or the “Company”) (Nasdaq: AVXL), a clinical-stage biopharmaceutical company developing differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders including Alzheimer’s disease, Parkinson’s disease, Rett syndrome and other central nervous system (CNS) disorders, today announced it received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent application number 16/166,732 expanding coverage of treatment methods for ANAVEX®2-73 (blarcamesine), to the treatment of a range of cardiac dysfunctions including cardiac arrhythmia, ventricular arrhythmia and atrial fibrillation among other indications.

Data suggests that activation of the sigma-1 receptor is pivotal to restoring neural cell homeostasis and promoting neuroplasticity.1

Anavex’s newest patent is expected to remain in force at least until 2038, not including any patent term extensions. The new patent will expand the use of ANAVEX®2-73 (blarcamesine) from neurodegenerative and neurodevelopmental disorders to a range of cardiac dysfunctions.

“This new use of ANAVEX®2-73 (blarcamesine) will be exceptionally important for Alzheimer’s disease patients because the advanced age of these patients make them also more susceptible to heart disease,” said Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex, adding: “We are extremely pleased with the continued development of the patent portfolio for ANAVEX®2-73 (blarcamesine). When it issues, this new patent will fortify our robust patent portfolio relating to ANAVEX®2-73 (blarcamesine), and further demonstrate our strong overall commitment to protecting the innovation and commercial opportunity of our product portfolio”.

About Cardiac Dysfunction

Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. About 655,000 Americans die from heart disease each year — that is 1 in every 4 deaths.2 Heart disease costs the U.S. about $219 billion each year — this includes the cost of health care services, medicines, and lost productivity due to death.3 Cardiac dysfunctions may be caused by and/or related to many other heart diseases, such as coronary artery disease (CAD), high blood pressure, a disorder of the heart muscle or heart valves, and heart attack. It includes cardiac arrhythmia, premature ventricular contraction (PVC), ventricular dysfunction, ventricular arrhythmia, atrial fibrillation, and atrial flutter, among others.

About Anavex Life Sciences Corp.

Anavex Life Sciences Corp. (Nasdaq: AVXL) is a publicly traded biopharmaceutical company dedicated to the development of differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders including Alzheimer’s disease, Parkinson’s disease, Rett syndrome and other central nervous system (CNS) diseases, pain and various types of cancer. Anavex’s lead drug candidate, ANAVEX®2-73 (blarcamesine), successfully completed a Phase 2a clinical trials for Alzheimer’s disease and recently a Phase 2 proof-of-concept study in Parkinson’s disease dementia and a Phase 2 study in adult patients with Rett syndrome. ANAVEX®2-73 is an orally available drug candidate that restores cellular homeostasis by targeting sigma-1 and muscarinic receptors. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer’s disease. ANAVEX®2-73 also exhibited anticonvulsant, anti-amnesic, neuroprotective, and anti-depressant properties in animal models, indicating its potential to treat additional CNS disorders, including epilepsy. The Michael J. Fox Foundation for Parkinson’s Research previously awarded Anavex a research grant, which fully funded a preclinical study to develop ANAVEX®2-73 for the treatment of Parkinson’s disease. ANAVEX®3-71, which targets sigma-1 and muscarinic receptors, is a promising clinical stage drug candidate demonstrating disease-modifying activity against the major hallmarks of Alzheimer’s disease in transgenic (3xTg-AD) mice, including cognitive deficits, amyloid and tau pathologies. In preclinical trials, ANAVEX®3-71 has shown beneficial effects on mitochondrial dysfunction and neuroinflammation. Further information is available at www.anavex.com. You can also connect with the company on Twitter, Facebook and LinkedIn.

Forward-Looking Statements

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.

For Further Information:

Anavex Life Sciences Corp.Research & Business DevelopmentToll-free: 1-844-689-3939Email: info@anavex.com

Investors:Andrew J. BarwickiInvestor RelationsTel: 516-662-9461Email: andrew@barwicki.com

1 Advances in Experimental Medicine and Biology Volume 964 (2017) Sigma Receptors: Their Role in Disease and as Therapeutic Targets.

2 Virani SS, Alonso A, Benjamin EJ, Bittencourt MS, Callaway CW, Carson AP, et al. Heart Disease and Stroke Statistics—2020 Update: A Report From the American Heart Association. Circulation. 2020;141(9):e139–e596.

3 CDC Centers for Disease Control and Prevention - Heart Disease Facts.