NEW YORK, Dec. 01, 2016 (GLOBE NEWSWIRE) -- Anavex Life Sciences Corp. ("Anavex" or the "Company") (Nasdaq:AVXL) today announced that Christopher U. Missling, Ph.D., President and Chief Executive Officer, will participate on a panel comprising 14 representatives from government and industry at the Fourth Annual Mental Health Parity and Addiction Equity Act (MHPAEA) Business Roundtable. The panel members will discuss the current challenges around implementation of the Mental Health Parity and Addiction Equity Act (MHPAEA) of 2008 and an action plan. The event will take place on Tuesday, December 6, 2016, at the U.S. Capitol Visitor Center, in Washington, D.C. "There is an unmet medical need around brain illnesses such as Traumatic Brain Injury (TBI) and Post Traumatic Stress Disorder (PTSD) that must be overcome especially given its impact on our veterans while addressing two daunting complexities: the biology of the brain and resources," said E. Teresa Touey, organizer of the MHPAEA Business Roundtable. "As a panelist, Dr. Missling brings relevant drug development experience in complex diseases like Alzheimer's, Parkinson's, Rett syndrome, and other neurological disorders, so the work that Anavex is doing is immensely important." About the Mental Health Parity and Addiction Equity Act (MHPAEA) The Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) requires group health plans and health insurance issuers to ensure that financial requirements (such as co-pays, deductibles) and treatment limitations (such as visit limits) applicable to mental health or substance use disorder (MH/SUD) benefits are no more restrictive than the predominant requirements or limitations applied to substantially all medical/surgical benefits. MHPAEA supplements prior provisions under the Mental Health Parity Act of 1996 (MHPA), which required parity with respect to aggregate lifetime and annual dollar limits for mental health benefits. 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 diseases including Alzheimer's disease, other central nervous system (CNS) diseases, pain and various types of cancer. Anavex's lead drug candidate, ANAVEX 2-73, is currently in a Phase 2a clinical trial for Alzheimer's disease. ANAVEX 2-73 is an orally available drug candidate that restores cellular homeostasis by targeting sigma-1 and muscarinic receptors and successfully completed Phase 1 with a clean safety profile. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer's disease. It has also exhibited anticonvulsant, anti-amnesic, neuroprotective and anti-depressant properties in animal models, indicating its potential to treat additional CNS disorders, including epilepsy and others. The Michael J. Fox Foundation for Parkinson's Research has awarded Anavex a research grant to develop ANAVEX 2-73 for the treatment of Parkinson's disease to fully fund a preclinical study, which could justify moving ANAVEX 2-73 into a Parkinson's disease clinical trial. ANAVEX 3-71, also targeting sigma-1 and M1 muscarinic receptors, is a promising preclinical drug candidate demonstrating disease modifications against the major Alzheimer's hallmarks in transgenic (3xTg-AD) mice, including cognitive deficits, amyloid and tau pathologies, and also with beneficial effects on neuroinflammation and mitochondrial dysfunctions. Further information is available at www.anavex.com. 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.