PVG Asset Management Plans Major Reforms at Anavex Life Sciences

CENTENNIAL, Colo., Sept. 18, 2026 /CourierPR/ -- PVG Asset Management, a stockholder of 337,663 shares of Anavex Life Sciences Corp., has announced its plans for the first 100 days following a successful proxy vote. The company is optimistic that its slate of highly qualified director candidates will win approval from shareholders, particularly in light of the recent recommendation from Glass Lewis that Anavex shareholders vote the GOLD Universal Proxy Card.

PVG’s director nominees intend to take several actions in the coming months to address various aspects of the company. These include hiring an experienced CEO with a track record in CNS and rare disease drug development, rebuilding the clinical team without disrupting ongoing trials, and undertaking a comprehensive effort to recover and preserve valuable institutional knowledge from existing management, as well as the nine executives who were recently terminated.

In the realm of clinical development and trial execution, PVG plans to bring in outside experts to ensure trials are designed for the highest probability of success. A special Board committee with clinical expertise will be established to oversee and report on trial risks and progress, with a particular focus on de-risking the Phase 3 Alzheimer's trial design, including appropriate patient selection.

Regarding capital and strategic partnerships, PVG aims to pursue capital raises at a higher stock price or through non-dilutive financing. The company will also form partnerships with large pharmaceutical companies for indications that Anavex cannot afford to develop independently, such as Parkinson's disease and schizophrenia. A full review of each pipeline asset and its financing needs, as well as a thorough review of the patent portfolio for opportunities to extend patent life, will be conducted.

In terms of governance, legal, and regulatory matters, PVG plans to address the costly litigation relating to the renominated directors firing of the former CEO and pursue resolution if appropriate. Independent Board oversight and accountability will be restored and strengthened.

Finally, PVG will establish an active Board that expects strong results and will require all Board members and management to maintain meaningful ownership in Anavex stock.

PVG believes a new Board is needed to provide appropriate oversight, as well as a CEO with deep biotechnology industry experience who can restore credibility with investors, raise the capital to advance key clinical programs, and create long-term value for all stockholders. The company encourages all stockholders to carefully review its proxy materials and vote the GOLD Universal Proxy Card to elect PVG’s six nominees at the 2026 Annual Meeting.

For additional information regarding PVG’s campaign for change at Anavex, please visit: www.globenewswire.com/NewsRoom/AttachmentNg/33d49f79-50c6-40bf-b759-4542d16fbac0