Afexa Life Sciences Inc.

Afexa Life Sciences Inc.

July 18, 2011 08:00 ET

Afexa Comments on Recent Shareholder Announcement

EDMONTON, ALBERTA--(Marketwire - July 18, 2011) - Afexa Life Sciences Inc. (TSX:FXA)

On Friday, July 15, 2011, after market close, Paladin Labs Inc. announced in a news release that they had purchased 14.94% of Afexa's total issued and outstanding common shares for a total beneficial ownership representing 15,421,300 common shares.

At this time, Afexa Life Sciences Inc. has nothing further to report. The Board is reviewing the situation and any material developments will be reported in a news release.

About Afexa Life Sciences Inc. (TSX:FXA)

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 has a product license (NPN) and is supported by scientific evidence, including randomized, double-blind, placebo-controlled clinical trials. The Company recently launched COLDSORE-FX in Canada and has a range of polymolecular drugs at various clinical and pre-clinical development stages. This product pipeline includes COLD-FX pediatric, AFX-2 for Chronic Lymphocytic Leukemia, Dilexaponan for cholesterol management, HT-1001 for Oxidative Stress and a product for blood glucose management.

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