Afexa Life Sciences Inc.
TSX : FXA

Afexa Life Sciences Inc.

August 10, 2011 12:40 ET

Afexa AGM Highlights Short and Long-Term Growth

EDMONTON, ALBERTA--(Marketwire - Aug. 10, 2011) - Afexa Life Sciences Inc. ("Afexa" or "the Company") (TSX:FXA) outlined today at their shareholders Annual General Meeting ("AGM") the progress the Company is making towards growing its integrated business given its component parts; Serial product development, the Globalization of COLD-FX®, and the Canadian Commercial Business.

Afexa's serial development business refers to the development of new natural medicines using Afexa's unique discovery and standardization technology, ChemBioPrint. This technology is combined with the same clinical development rigor expected of traditional over the counter products. Product candidates include Dilexaponan™, a cholesterol management compound which has demonstrated great promise in pre-clinical studies. A clinical trial (Phase I) is ongoing given the need for new innovative products in this area. Other products in pre-clinical and early clinical development include products for the treatment of high blood pressure and blood glucose management. The Company has also discovered very promising toll-like receptor product candidates, which may have potential in multiple immune related conditions such as cancer, hepatitis, herpes, HIV, allergies, and as a vaccine adjuvant.

Activities related to the global commercialization of COLD-FX include progressing in the registration and commercialization of COLD-FX ("AFX-2") in China, other Asian countries and the United States. Although this is a multi-year process, the initial regulatory assessment indicates that the existing Health Canada approval of COLD-FX will help shorten timelines and reduce development costs in bringing this product to China. As part of the Company's strategy to register AFX-2 as a drug in the U.S., the Company discussed its approval by the FDA to proceed with a second Phase 1B clinical trial, exploring the reduction in the incidence and severity of acute respiratory affection among chronic lymphocytic leukemia ("CLL") patients.

The Canadian Commercial Business supports the existing FX product portfolio and provides a foundation from which to launch the Company's new product pipeline as well as other in-licensed products. The Company reviewed its product diversification strategy, supporting growth of its flagship brand, COLD-FX, given development of new formulations and indications for extended use. The Company also discussed the launch of COLDSORE-FX™ the most recent in-licensed addition to the FX portfolio. COLDSORE-FX is the only clinically proven preventative natural cold sore product which speeds the rate of healing while at the same time reducing pain.

Jack Moffatt, Afexa's CEO and President said, "Given the strength of our current and future growth potential as an integrated business, which includes serial product development, the globalization of COLD-FX and the continued growth of our Canadian commercial business, we believe the market will begin to recognize the value of our unique business and its fundamental strengths."

ABOUT AFEXA LIFE SCIENCES INC.

Afexa Life Sciences Inc., founded in 1992, strives to deliver the most trusted health brand on the planet through pioneering evidence-based natural medicines that empower people to achieve their health potential. The Company's patented ChemBioPrint discovery and standardization technology enables the development of effective and safe medicines from complex natural sources, while ensuring reliable health benefits and batch-to-batch consistency. COLD-FX, a ChemBioPrint product, is the Company's flagship product and Canada's leading over-the-counter (OTC) cold and flu remedy. It is officially indicated in Canada to help reduce the frequency, severity and duration of cold and flu symptoms by boosting the immune system. COLD-FX products have product licenses (NPN) and are supported by scientific evidence, including randomized, double-blind, placebo-controlled clinical trials.

Advisory Regarding Forward-Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "would", "project", "could", "should", "contemplate", "potential", "depend", "forecast", "believe", "plans", "targets", "intends" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements reflect the Company's beliefs and are based on information currently available to us. These statements require Afexa to make assumptions that it believes are reasonable and are subject to inherent risks and uncertainties. Actual results and developments may differ materially from the results and developments discussed in the forward-looking statements as certain of these risks and uncertainties are beyond Afexa's control. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon.

Examples of such forward-looking statements in this news release include, but are not limited to:

  • the promise of Dilexponan and toll-like receptor candidates to be successful;
  • acceleration of regulatory filings in China and that Health Canada regulatory approval of COLD-FX will shorten timelines and reduce costs of these regulatory filings;
  • belief that the market will respond to our growth plans and our share value will increase.

The Company believes the expectations and assumptions reflected in the forward-looking information and statements contained herein are reasonable. However, no assurance can be given that these expectations and assumptions are correct and that the results, performance or achievements expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, whether any benefits may be derived from them. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

The forward-looking information and statements contained in this presentation speak only as at the date of this AGM, and the Company assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable laws.

Investors are encouraged to consult SEDAR filings for more details on forward-looking statements and associated risks. The Company claims exemption under U.S. SEC Rule 12g3-2(b).

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