Full Press Release Details
Anavex appoints Robert Chisholm as CFO
Vancouver, BC -- June 26, 2012 --
Anavex Life Sciences Corp. ( Anavex ) (OTCBB: AVXL) today announced the
appointment of Robert Chisholm as Chief Financial Officer ( CFO ) of the company
effective June 26, 2012. Mr. Chisholm will remain on the Anavex Board of
Directors, on which he has served since May 2011. A veteran finance and
administration executive with more than 25 years of experience, Mr. Chisholm has
significant expertise in corporate finance, strategic business initiatives and
the unique requirements of growth-oriented public companies. He also serves as a
director and audit committee member for a number of other public companies.
We are extremely pleased that Robert has agreed to expand his
role with Anavex, said Sean Lowry, Director of Anavex. I have found Robert to
be extremely professional and capable in our dealings together on the Anavex
audit committee. His financial expertise is exactly what the company needs as we
work to improve operational efficiency in preparation for future clinical trials
of ANAVEX 2-73, our lead Alzheimer s compound.
I am excited to be working with the Anavex leadership team as
we drive forward our important work in Alzheimer s drug research and
development, said Mr. Chisholm. We plan to focus on implementing strong
internal controls and effective management. As well, we look forward to
expanding our capable and committed leadership team.
Mr. Chisholm has been the Chief Financial Officer and a
director of both Savary Capital Corp. and OMT Inc. since March 2011 and July
2011, respectively. Mr. Chisholm has been a member of the Board of Directors of
Rare Earth Industries Ltd since March 2011 is currently the Chief Financial
Officer of TMT Resources Inc. and Ripper Oil and Gas Inc. since November 2011
and May 2012, respectively. Mr. Chisholm is also the Chief Financial Officer and
a partner of Emprise Capital Corp.
Between September 2001 and March 2009 Mr. Chisholm served as
CFO for PNI Digital Media (formerly PhotoChannel Networks Inc.) and subsequently
joined its Board of Directors in April 2009, where he is currently the Chairman
of its audit committee.
In addition, Mr. Chisholm s background includes previous
appointments as CFO and/or director for Chantrell Ventures Corp. (formerly Tiger
Pacific Mining Corp.), Windamere Ventures Ltd. (formerly Advanced Vision Systems
Corp.), Brookwater Ventures Inc., Ocean Park Ventures Corp and SCS Solars
Computing Systems Inc.
He holds a professional accounting designation and received his
BBA with a major in accounting from Saint Francis Xavier University in Nova
Additionally, Anavex announces that Harvey Lalach has resigned
as a director and officer of the company effective June 26, 2012. Mr. Lalach s
consulting agreement has been terminated and the Company will pay out the
agreement through the issuance of 75,000 shares in its capital. Mr. Chisholm
will serve as interim President.
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 utilizes its proprietary SIGMACEPTOR Platform to
develop drug candidates targeting specific clinical indications. Lead compound ANAVEX 2-73, developed to treat Alzheimer s through disease
modification, is in human clinical trials. A Phase 1 single ascending dose study
of ANAVEX 2-73 was successfully completed in Germany in 2011. Studies indicate
that ANAVEX 2-73 demonstrates anti-amnesic and neuroprotective properties, and
that it is well tolerated in doses up to 55mg. The company is preparing to
embark on a multiple ascending dose clinical trial of ANAVEX 2-73 in 2012.
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.
Forward-looking statements in this press release include that Anavex is
advancing ANAVEX 2-73, its lead drug candidate for Alzheimer s disease; that we
are moving forward with clinical trials; that data from a prior trial indicates
that the compound is well tolerated; and that a portfolio of back-up compounds
to ANAVEX-2-73 are also in development. 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 pass clinical trials
so as to move on to the next phase, our ability to finance development or
satisfy the rigorous regulatory requirements for new drugs, our ability to
attract and retain quality personnel, and that despite positive results, our
competitors may offer better or cheaper alternatives. 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
Research & Business Development
Email: info@anavex.com
Shareholder & Media Relations
Outside North America: +1 (416) 489-0092
Email: ir@anavex.com