Anavex announces director resignation

Palo Alto, CA -- March 27, 2012 -- Anavex Life Sciences Corp. (“Anavex”) (OTCBB: AVXL) reports the departure of Dr. George Tidmarsh as executive director. Dr. Tidmarsh resigned to devote time to other professional responsibilities. Anavex’s Board of Directors would like to thank Dr. Tidmarsh for his contributions to the company and wish him well in his future endeavors.

About Anavex Life Sciences Corp.

Anavex Life Sciences Corp. (www.anavex.com) is a specialty pharmaceutical company engaged in the discovery and development of novel drug candidates for the treatment of neurological diseases and cancer. The Anavex proprietary SIGMACEPTOR™ Discovery Platform involves the rational design of drug compounds targeted to specific receptors involved in the modulation of multiple cellular biochemical signaling pathways.

The SIGMACEPTOR™-N program involves the development of novel drug candidates that target neurological and neurodegenerative diseases (Alzheimer's disease, epilepsy, depression, pain). The company's lead drug candidates exhibit high affinity for sigma receptors, which have been extensively documented as potentially valuable drug targets and have demonstrated anti-amnesic and neuroprotective properties. A portfolio of back-up compounds to ANAVEX 2-73 are also in development.

Anavex is a publicly traded company under the symbol AVXL.