Anavex Life Sciences Announces Appointment of Ms Jiong Ma, PhD to Board of Directors

Rhea-AI Summary

Anavex Life Sciences Corp. (Nasdaq: AVXL) has announced the appointment of Dr. Jiong Ma to its Board of Directors, enhancing its leadership with her extensive experience in innovative product launches across various sectors. Dr. Ma has over 25 years in investing and scaling companies, including roles in venture capital and technology. She replaces Dr. Elliot Favus, who is retiring from the board. CEO Christopher U. Missling expressed confidence in Dr. Ma's ability to contribute to the commercial development of Anavex’s lead drug, ANAVEX®2-73, aimed at treating neurodegenerative disorders.

Positive

• Appointment of Dr. Jiong Ma enhances leadership with over 25 years of experience.
• Dr. Ma's background in innovative product launches may accelerate commercial development of ANAVEX®2-73.

Negative

• Retirement of Dr. Elliot Favus may raise concerns about continuity in board experience.

Strengthening Board of Directors with Expertise in Innovative Product Launches

NEW YORK, May 26, 2021 (GLOBE NEWSWIRE) -- 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, Parkinson’s disease, Rett syndrome and other central nervous system (CNS) diseases, today announced the appointment of Ms. Jiong Ma, PhD to its Board of Directors. Ms. Ma is Senior Board executive with over 25 years of experience in investing, building, scaling of companies with focus on innovative product launches in digital health, technology and the new energy transition. Dr. Jiong Ma serves and served as a Board Director of LinkinVax, Aledia, Voxel8, Lo3 Energy, mc10, acquired by Medidata, Storiant, Fulham, Convey Computer, acquired by Micron Technology, Powervation, acquired by RHOM Semiconductor, Laser Light Engine and Carbonite, Inc., which went public via IPO in 2011 and was subsequently acquired by OpenText in 2019 for approximately $1.45 billion.

As a Partner at Braemar Energy Ventures ($600 million AUM), Ms. Ma focused on investments in digitization of industry, resource efficiency, mobility, renewable energy infrastructure, and deeptech. She was on the firm’s investment committee and has led more than 15 investments in growth stage companies with focus on innovative product launches, as well as raising funding, negotiating and structuring investments, hiring management teams, and assembling boards.

Prior, she was with the Venture Capital Group at 3i, a global private equity firm ($17 billion AUM), where she led investments across multiple stages in Digital Health, TMT and Cleantech. Among them TransMedics Group (Nasdaq: TMDX), ImpactRx/Symphony Health Solutions, which was later acquired by PRA Health Sciences (Nasdaq:PRAH).

Preceding the Venture Capital Group at 3i, Ms. Ma held several senior positions at Lucent Technologies and Bell Labs. Her responsibilities included lead roles in product portfolio strategy, new product launches for Optical and Data Networking, and research and product development. Ms. Ma was also a founding team member of Onetta, a fiber networks company.

She has a PhD in Electrical and Computer Engineering from the University Colorado at Boulder and an MS in Electrical Engineering from Worcester Polytechnic Institute. Ms. Ma is a Kauffman Fellow.

“It’s an honor to join Anavex’s Board of Directors,” said Ms. Ma. “With the focus on neurodegeneration and neurodevelopmental diseases, Anavex is tackling one of the biggest medical challenges that our society faces today. I am impressed with the breadth of Anavex’s pipeline. I look forward to applying my insights to advance Anavex towards its next stage of growth on the way to commercial success.”

Dr Elliot Favus will retire as a Board member today and on behalf of the Board, the Company would like to thank him for his contribution to Anavex and wish him well in the future.

“I am excited to welcome Ms. Ma to Anavex’s Board of Directors,” stated Christopher U Missling, PhD, President and Chief Executive Officer of Anavex. “Ms. Ma brings extensive experience in innovative product launches to Anavex. I am confident she will make important contributions to our Board of Directors and towards the commercial development of ANAVEX®2-73.”

About Anavex Life Sciences Corp.

Anavex 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), completed successfully a Phase 2a clinical trials for Alzheimer’s disease and recently a Phase 2 proof-of-concept study in Parkinson’s disease dementia and a Phase 2 study in adult patients with Rett syndrome. ANAVEX®2-73 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 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 for the treatment of Parkinson’s disease. ANAVEX®3-71, which targets sigma-1 and muscarinic receptors, is a promising clinical stage 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.

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. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks set forth in the Company’s most recent Annual Report on Form 10-K filed with the SEC. 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 Corp.
Research & Business Development
Toll-free: 1-844-689-3939
Email: info@anavex.com

Investors:
Andrew J. Barwicki
Investor Relations
Tel: 516-662-9461
Email: andrew@barwicki.com

 

FAQ

Who is Dr. Jiong Ma and what experience does she bring to Anavex?

Dr. Jiong Ma is a newly appointed Board member at Anavex with over 25 years of experience in investing and innovative product launches, having held senior roles in various companies.

What changes were made to Anavex's Board of Directors?

Anavex appointed Dr. Jiong Ma to the Board and announced the retirement of Dr. Elliot Favus.

What is the significance of Dr. Ma's appointment for Anavex's future?

Dr. Ma's expertise in product launches is expected to support the commercial development of Anavex’s lead candidate, ANAVEX®2-73.

What is ANAVEX®2-73 and why is it important for Anavex?

ANAVEX®2-73 is Anavex's lead drug candidate aimed at treating neurodegenerative disorders, and its successful development is crucial for the company's growth.