Anavex Life Sciences says it achieved significant development of its lead drug candidates its scientific teams during 200,7 and disclosed key corporate objectives for 2008
"This past year has been extremely successful for Anavex, with important achievements in all business areas.
"As a result, we are well positioned for excellent progress in 2008 and beyond," said Dr Kontzalis, chief executive officer.
"This year Anavex is planning to file Investigational New Drug (IND) applications for three lead drug candidates, commence Phase 1 clinical trials of our lead Alzheimer's compound, explore stock exchange opportunities in the United States, and expand our scientific collaborations beyond the European community to include American research and academic institutions.
"In addition, we are proceeding with an accelerated pre-clinical development program to advance several additional compounds that are in the discovery or lead optimization stage".
Pre-clinical studies for three of Anavex's lead drug candidates are nearing completion, including those for Alzheimer's, epilepsy and colorectal cancer.
At the same time, other compounds targeting depression and other forms of cancer (prostate, breast, lung) are being quickly advanced through the pre-clinical stages.
In 2008, once pre-clinical studies have been completed, Anavex plans to submit IND applications for three compounds so that it can commence Phase 1 clinical trials.
It expects to submit IND filings for Anavex 1-41 (Alzheimer's) in April 2008, followed by an application for Anavex 2-73 (epilepsy) in August 2008, and Anavex 7-1037 (colorectal cancer and other solid tumors) by December 2008.
Anavex 1-41 is expected to be the first compound to reach Phase 1 clinical trials, with human testing expected to commence in late 2008 or early 2009.
Also in 2008, Anavex plans to strategically explore marketplace choices and opportunities in the United States.
The company believes that the benefits of listing on a senior stock exchange would include expanded relationships with the American investment community and the support of a larger, more liquid trading market.
Anavex is aiming to sign licensing agreements for its lead CNS candidates following Phase 1 clinical trials.
The company is motivated to pursue licensing agreements for its oncology drug candidates at an earlier stage.
