Proof of Concept Controlled Phase 2 Clinical Trial Data Evaluating ANAVEX 2-73 ( blarcamesine ) in Parkinson's Disease Dementia Presented at CTAD 2020 Conference Statistically significant improvements in CDR system Cogni

of Concept Controlled Phase 2 Clinical Trial Data Evaluating

ANAVEX 2-73 (blarcamesine) in Parkinson's Disease Dementia Presented

at CTAD 2020 Conference

significant improvements in CDR system Cognitive Domain of Attention

assessed by Choice Reaction Time (p = 0.039) and Digital

Vigilance (p = 0.008)

significant dose-dependent improvements in Episodic Memory (p = 0.003)

(blarcamesine) prevented the on-going cognitive decline in treated

patients compared to placebo

breaking abstract of cognitive outcome measures relevant to Alzheimer's disease

selected for oral presentation at CTAD

YORK - November 6, 2020 - 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 (AD), Parkinson's disease (PD), Rett syndrome and other

central nervous system (CNS) diseases, today announced additional details on and presented the results from the proof of concept

Phase 2 controlled trial evaluating the safety, tolerability, and efficacy of ANAVEX 2-73 (blarcamesine) in patients

with Parkinson's disease dementia (PDD) at the 13th international conference on Clinical Trials on Alzheimer's

Disease (CTAD). CTAD is an annual conference focused on Alzheimer's research and development and takes place this year as

a virtual event on November 4-7th, 2020.

of the Late-breaking Presentation:

"ANAVEX 2-73 (blarcamesine) Currently in Phase 2b/3 Early Alzheimer's Disease (AD): Analysis of Cognitive

Outcome Measures Relevant to AD of Double-blind, Multicenter, Placebo-controlled Phase 2 Clinical Trial in 132 Patients with Parkinson's

study found that ANAVEX 2-73 (blarcamesine) was well tolerated in oral doses up to 50 mg once daily. The results showed

clinically meaningful, dose-dependent, and statistically significant improvements in the Cognitive Drug Research (CDR) computerized

assessment system analysis. The study validated the precision medicine approach of targeting SIGMAR1 as a genetic biomarker of

response to ANAVEX 2-73 (blarcamesine), confirming that ANAVEX 2-73 (blarcamesine) acts through SIGMAR1

activation. These results support continued development in PDD / PD as well as the currently ongoing Phase 2 and Phase 2/3 clinical

studies with ANAVEX 2-73 (blarcamesine) in Rett syndrome1 and Alzheimer's disease2.

ClinicalTrials.gov Identifiers: NCT03758924, NCT03941444, NCT04304482

ClinicalTrials.gov Identifiers: NCT03790709, NCT02756858

of the study results:

presentation is available on the Anavex website (www.anavex.com).

ANAVEX 2-73-PDD-001 study was an international, double-blind, multicenter, placebo-controlled proof of concept Phase 2 clinical

study that randomized 132 patients with PDD equally to target doses of 30mg, 50mg ANAVEX 2-73 (blarcamesine) or placebo,

respectively. In addition to safety and cognitive efficacy, sleep function was assessed during the study at week 8 and week 14.

study results will be submitted for publication in a peer-reviewed medical journal. Anavex is planning a pivotal trial of ANAVEX 2-73

(blarcamesine) in Parkinson's disease dementia after submitting the results of the study to the FDA to obtain regulatory

am very intrigued to see the promising results of the ANAVEX 2-73-PDD-001 trial, providing significant improvements in cognitive

function accompanied by a favorable safety and tolerability profile," said Dag Aarsland, MD, PhD, Professor and the Head

of Department of Old Age Psychiatry at the Institute of Psychiatry, Psychology & Neuroscience, King's College London,

UK. "The ANAVEX 2-73 (blarcamesine) study results represent a meaningful step forward toward urgently needed

treatment for this serious complication of Parkinson's disease given that cognitive impairment of patients with Parkinson's

disease dementia is very distressing to patients and their families and is associated with greater risk of institutionalization

and accelerated progression to severe dementia and death."

Jaime Kulisevsky, MD, PhD, Full Professor of Neurology & Vice-Dean Faculty of Medicine Autonomous University of Barcelona

and Director of the Movement Disorders Unit, Department of Neurology, Sant Pau Hospital and Principal Investigator in the trial,

commented, "PDD is a debilitating disorder with significant co-morbidities and there has not been a mechanistically novel

medication approved for PDD in over 20 years. Hence, new therapies are urgently needed to alleviate this suffering and disability.

As the first double-blind trial of ANAVEX 2-73 (blarcamesine) in PDD, this proof-of-concept study provides very encouraging

and clinically relevant data."

Mahurin, R. K., & Pirozzolo, F. J. (1993). Application of Hick's law of response speed in Alzheimer and Parkinson

diseases. Perceptual and Motor Skills, 77(1), 107-113

Wesnes K, Edgar C, Andreasen N, Annas P, Basun H, Lannfelt L, et al. Computerized cognition assessment during

acetylcholinesterase inhibitor treatment in Alzheimer's disease. Acta Neurol Scand 2010; 122:270-7

U Missling, PhD, President & Chief Executive Officer of Anavex, "Our strategy has been consistently to advance ANAVEX 2-73

(blarcamesine) with focus on Precision Medicine and to validate this approach in clinical studies in patients with significant

cognitive impairments. We are pleased with these PDD study results that will be further supplemented by actigraphy movement data

and whole genome exome DNA and RNA data. Finally, we would like to thank all the patients and participating families as well the

investigators and clinical site coordinators for their dedication to this study."

completing the trial, participants were able to enroll in a voluntary 48-week open-label extension study, ANAVEX 2-73-PDD-EP-001,

which continues to assess safety, long term efficacy and changes in gut microbiota.5

(blarcamesine) is an orally available, small-molecule activator of the sigma-1 receptor (SIGMAR1), which has been shown

to be pivotal to restoring neural cell homeostasis and promoting neuroplasticity.6

Parkinson's Disease Dementia (PDD)

disease is a fairly common neurological disorder in older adults, estimated to affect nearly 2 percent of those older than age

65. The Parkinson's Foundation estimates that 1 million Americans have Parkinson's disease. It is estimated that up

to 80 percent of those with Parkinson's disease eventually experience Parkinson's disease dementia. The brain changes

caused by Parkinson's disease begin in a region that plays a key role in movement. As Parkinson's brain changes gradually

spread, they often begin to affect mental functions, including memory and the ability to pay attention, make sound judgments and

plan the steps needed to complete a task.7

ANAVEX 2-73 (blarcamesine)

(blarcamesine) activates the Sigma-1 receptor (S1R) protein, which serves as a molecular chaperone and functional modulator

involved in restoring homeostasis. In a Phase 2a Alzheimer's disease (AD) study, ANAVEX 2-73 (blarcamesine) has

shown dose dependent improvement in exploratory endpoints of cognition (MMSE) and activities of daily living (ADCS-ADL). Full

genomic analysis of ANAVEX 2-73 (blarcamesine) Phase 2a study in AD patients was performed. The ANAVEX 2-73 (blarcamesine)

Phase 2 PDD study design includes genomic biomarkers identified in the ANAVEX 2-73 (blarcamesine) Phase 2a AD study.

Studies of ANAVEX 2-73 (blarcamesine) in a disease modifying animal model of Parkinson's disease indicates that

ANAVEX 2-73 (blarcamesine) is well tolerated, induces significant motor recovery (p<0.05), induces neurohistological

restoration (p<0.05) and reduces microglial activation (p<0.05), a potential biomarker of Parkinson's disease. Behavioral

patterns were completely normal, meaning no signs of either dystonia or stereotypic behaviors were detected in animals receiving

the treatment. These studies were funded by The Michael J. Fox Foundation for Parkinson's Research.

ClinicalTrials.gov Identifier: NCT04575259

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

7 Source: https://www.alz.org/alzheimers-dementia/what-is-dementia/types-of-dementia/parkinson-s-disease-dementia

Anavex Life Sciences Corp.

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), recently completed a successful Phase 2a clinical trial for Alzheimer's

disease. ANAVEX 2-73 (blarcamesine) 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 (blarcamesine) 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 (blarcamesine) for the treatment of Parkinson's disease. ANAVEX 3-71, which targets sigma-1

and muscarinic receptors, is a promising preclinical 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.