Released on: May 21, 2008, 5:55 am

Press Release Author: ANAVEX Life Sciences Corp.

Industry: Biotech

Press Release Summary: Anavex Life Sciences Corp. (``ANAVEX\'\') (OTC
BB:AVXL.OB)announced the appointment of Alison Ayers to its Board of Directors.

Press Release Body: GENEVA, Switzerland, May 21, 2008 -- Anavex Life Sciences Corp.
(``ANAVEX\'\') (OTC BB:AVXL.OB) today announced the appointment of Alison Ayers to its
Board of Directors. Ms. Ayers is currently the Worldwide Commercial Head for
Oncology at Pfizer (NYSE:PFE), with responsibility for Pfizer\'s oncology portfolio,
which includes more than 20 drug candidates in clinical development, as well as
lifecycle optimization for their leading oncology treatments including Sutent. In
addition, she is a member of the leadership team that develops Pfizer\'s oncology
strategic plan and which manages the portfolio, including asset prioritization,
development planning, strategic and investment decisions including licensing and
acquisitions. She is also responsible for the commercial strategy for Pfizer\'s
oncology department, which had sales of over $2 billion in 2007.

``It is our great pleasure to welcome Alison to our Board,\'\' said Harvey Lalach,
President of ANAVEX. ``Alison is a senior executive with strong leadership,
operational, deal-making and portfolio-planning abilities. She has developed broad
business skills with international pharmaceutical companies of all sizes, from
start-ups to several of the world\'s top corporations, and has extensive experience
guiding R&D prioritization and investment decisions to optimize the commercial value
of early and late-stage drug candidates. In addition, Alison has more than 20 years
of oncology-focused pharmaceutical industry experience. We are confident that her
background will add considerable value as we continue to develop our already
impressive oncology and CNS pipelines.\'\'

Ms. Ayers has an extensive background in business development and commercial
initiatives. In her current role she leads Pfizer\'s commercial leadership team for
oncology, which develops and implements globally aligned marketing strategies with
major emphasis on resource allocation, pre-launch planning for new indications and
new product launches. She is also the commercial lead for Pfizer\'s licensing
strategy and evaluation of licensing and acquisition opportunities.
Previously, Ms. Ayers was Commercial Head, Infectious Disease, Worldwide Marketing
for Pfizer, responsible for strategic leadership for the company\'s infectious
disease portfolio. Under her leadership, Pfizer\'s infectious disease portfolio
exceeded $3 billion in sales in 2005, with two compounds achieving sales growth of
20-30%.

Before joining Pfizer Ms. Ayers was Vice President of Portfolio Management for
Pharmacia, where she developed and implemented strategies to maximize earnings from
the company\'s complex global $2.5 billion diversified products portfolio, which is
comprised of more than 600 mature, non-promoted products. In her earlier role as
Vice President, Commercial Development, Oncology for Pharmacia, Ms. Ayers was
responsible for providing commercial leadership for the company\'s oncology pipeline,
and held a pivotal role in the acquisition of biotech company Sugen, which delivered
Pfizer\'s leading angiogenesis inhibitor, Sutent. Pharmacia was acquired by Pfizer in
2003.

Ms. Ayers\' background also includes senior positions in business and product
planning for numerous bioscience and pharmaceutical companies, including Merck, The
Health Care Group, US Bioscience, Bristol-Myers Squibb and Lederle Laboratories. She
holds a Master of Science with distinction in biopharmacy and a Diploma in Business
Studies, both from the University of London, UK, as well as a Bachelor of Science
with honors in physiology and biochemistry from the University of Southampton, UK.

Appoints Scientific Advisory Board Chairman
ANAVEX is also pleased to announce the appointment of Dr. Alexandre Vamvakides as
Chairman of the company\'s Scientific Advisory Board. Dr. Vamvakides is the
scientific founder of and Chief Scientific Officer for ANAVEX. He has spent 30 years
in research, specializing in the therapeutic and pharmacological areas of nootropes,
anti-neurodegenerative (anti-Alzheimer\'s), anti-epileptic, anti-depressive and
prototype molecules. The author of more than 80 published scientific papers, Dr.
Vamvakides has worked at the Institut National de la Sante et de la Recherche
Medicale in Paris, France, University of Athens (Greece), Ciba-Geigy (Basel,
Switzerland), Sanofi (Montpellier, France) and many other European research labs
focusing on the discovery and development of new concepts in the therapeutic areas
of CNS, oncology and anti-inflammatory diseases.

As a result of this appointment, Dr. Vamvakides has resigned his position as a
director of ANAVEX.

ANAVEX would like to thank outgoing CEO and Director Dr. Panos Kontzalis, who
tendered his resignation for personal reasons effective May 16, 2008, for his
contributions to the company.

About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (http://www.anavex.com) is an emerging biopharmaceutical
company engaged in the discovery and development of novel drug targets for the
treatment of cancer and neurological diseases. The company\'s proprietary
SIGMACEPTOR(tm) Discovery Platform involves the rational drug design of compounds
that fulfill specific criteria based on unmet market needs and new scientific
advances. Selected drug candidates demonstrate high, non-exclusive affinity for
sigma receptors, which are involved in the modulation of multiple cellular
biochemical signaling pathways.

ANAVEX\'s SIGMACEPTOR(tm)-N program involves the development of novel and original
drug candidates, targeting neurological and neurodegenerative diseases (including
Alzheimer\'s disease, epilepsy, depression). The company\'s lead drug candidates
exhibit high affinity for sigma receptors and synergy with other receptors and ion
channels with strong evidence for anti-amnesic, neuroprotective, anti-apoptotic,
anti-oxidative, anti-inflammatory, anti-convulsive, anti-depressant and anxiolytic
properties.

ANAVEX\'s SIGMACEPTOR(tm)-C program involves the development of novel and original
drug candidates targeting cancer. The company\'s lead drug candidates exhibit high
affinity for sigma receptors and synergy with ion channels with strong evidence for
selective pro-apoptotic, anti-metastatic and low toxicity properties in various
types of solid cancers such as colon, prostate, breast and melanoma.

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 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 file an IND
or commence clinical studies. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. This caution is
made under the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. 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.




Web Site: http://www.anavex.com

Contact Details: CONTACT: Anavex Life Sciences Corp., Research & Business
Development, Email: info@anavex.com; Shareholder & Media Relations, Toll-free:
1-866-505-2895, Outside North America: (416) 489-0092, Email: ir@anavex.com,
www.anavex.com