ATLANTA, Feb. 1, 2012 (GLOBE NEWSWIRE) -- OTC Stock Review announces that it has initiated coverage of Anavex Life Sciences Corp. (OTCBB:AVXL). AVXL is utilizing its proprietary SIGMACEPTOR™ Discovery Platform to discover and develop new drugs for the treatment of Central Nervous System (CNS) diseases and cancer.
The Anavex portfolio comprises novel, wholly owned sigma receptor agonists and antagonists in clinical and preclinical stages that target neurodegenerative diseases and cancer. AVXL's lead drug candidate for Alzheimer's Disease, ANAVEX 2-73, has successfully completed a Phase 1 single ascending dose (SAD) clinical trial. Results regarding the compound's safety profile are very encouraging.
AVXL has also started scale-up manufacturing of ANAVEX 1-41, its second lead compound, targeting depression and Alzheimer's Disease. In our opinion, with sufficient quantities of ANAVEX 1-41 in hand, AVXL will be in a position to advance the program and begin preclinical studies on large animals in the near term. Another three compounds (for malignant melanoma, prostatic cancer and epilepsy) will complete preclinical testing soon. Additionally, further compounds, which target conditions such as stroke, depression and neuropathic pain, as well as various types of cancer, are in preclinical development and will potentially enter clinical trials over the following years.
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