NEW YORK, June 4, 2014 (GLOBE NEWSWIRE) -- Anavex Life Sciences Corp. ("Anavex" or the "Company") (OTCQB:AVXL), a clinical-stage biopharmaceutical company developing novel drug candidates to treat Alzheimer's disease, other diseases of the central nervous system (CNS) and various types of cancer, is pleased to announce that it has been issued U.S. Patent No. 8,673,931 (the "Patent"). The composition and method Patent covers ANAVEX 3-71 (formerly AF710B) for treating Alzheimer's disease (AD), type 2 diabetes and insulin resistance. ANAVEX obtained exclusive rights to worldwide patents and patent applications for ANAVEX 3-71 and related compounds in March 2014 from Life Science Research Israel, a subsidiary of the Israel Institute for Biological Research. The Patent has a term that expires no earlier than April 29, 2030.
"We are delighted to strengthen our intellectual property position with the issuance of this U.S. patent," said Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex. "We believe the issuance of this patent validates the novelty of our platform. Additionally, we consider it to be an important step in our strategy to build and protect strong and highly differentiated small molecule therapeutics for Alzheimer's and other neurodegenerative diseases. We believe these indications are an area of significant opportunity in drug development and we look forward to leveraging our unique technology to address such therapeutic needs."
About U.S. Patent No. 8,673,931
The invention in this Patent covers certain bicyclic heterocyclic spiro compounds, which are thought to be ligands for G-protein coupled receptors. The active compounds function as muscarinic receptor agonists and are candidates for pharmaceutical use. There is particular emphasis on a method for the treatment of Alzheimer's disease as well as treating type 2 diabetes and insulin resistance syndrome.
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp. (www.anavex.com) is a clinical-stage biopharmaceutical company engaged in the development of novel drug candidates to treat Alzheimer's disease, other CNS diseases and various types of cancer. ANAVEX 2-73, an orally available drug candidate developed to treat Alzheimer's disease through potential disease modification, has undergone an initial Phase 1 human clinical trial and was well tolerated in doses up to 55mg. Results from preclinical studies indicate that ANAVEX 2-73 demonstrates anti-amnesic and neuroprotective properties. A highly encouraging synergistic effect has also been observed between ANAVEX 2-73 and donepezil (Aricept®). The combined therapeutic, called ANAVEX PLUS, produced up to 80% greater reversal of memory loss in Alzheimer's disease models versus when the drugs were used individually. Anavex is a publicly traded corporation quoted as AVXL.
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.