Anavex

Anavex Life Sciences is a biopharmaceutical company that develops novel therapeutics for the treatment of various neurodegenerative diseases and central nervous system (CNS) disorders by leveraging its proprietary SIGMACEPTOR Discovery Platform. One of its primary areas of research is in the development of small-molecule drug candidates that targets the Sigma-1 receptor (SIGMAR1) and muscarinic receptors. These receptors play crucial roles in regulating cellular functions, including neuroprotection, neuroplasticity, and neurogenesis.

The company's lead drug candidate, ANAVEX 2-73 (blarcamesine), is tested for its potential therapeutic benefits in Alzheimer's disease, Parkinson's disease, Rett syndrome, and other neurological conditions. ANAVEX 2-73 is designed to modulate multiple cellular pathways implicated in neurodegeneration to provide disease-modifying effects rather than solely symptomatic relief. This was at Phase III clinical trials as of March 2024.

The company had three other therapeutic drug candidates targeting neurodegenerative diseases and CNS disorders in its pipeline as of March 2024. Phase I clinical trials for ANAVEX 3-71 were completed, while ANAVEX 1-41 and ANAVEX 1,066 were at preclinical stages as of the same date.

Key customers and partnerships

In June 2023, Anavex partnered with Partex to use the latter’s AI technology to help enhance Anavex’s drug pipeline. Under the partnership, the parties planned to jointly develop a Patient App ecosystem focused on specific diseases. The initial offering through this partnership was to provide patients and caregivers with information on preventive and treatment options available in clinics and on the market. Additionally, Partex was expected to employ AI-driven healthcare sales marketing strategies to prepare for the advancement of Anavex's late-stage drug pipeline.

Funding and financials

The company’s latest funding round was in June 2021, where it raised USD 50 million in a registered direct offering. Anavex expected to use the funds to advance its therapeutic pipeline and for working capital, as well as other general corporate purposes.

The company reported a net loss of USD 47.5 million in the year ended September 2023, reporting a slight improvement from the previous year, in which a net loss of USD 48 million was reported.