Anavex nominates two directors amid proxy fight with PVG

Anavex Life Sciences Corp. (NASDAQ: AVXL) announced it is nominating two new independent directors, Gautam Patel and Dr. Adrian Senderowicz, for election at its 2026 Annual Meeting of Stockholders, according to a press release from the clinical-stage biopharmaceutical company.

Patel brings more than 30 years of experience in corporate finance, investment management and board leadership across life sciences, financial services and technology. Senderowicz has more than 30 years of clinical and regulatory leadership experience in the pharmaceutical industry. The two nominees will join four existing independent directors on the company's proposed slate: Dr. Jiong Ma, Dr. Peter Donhauser, Dr. Axel Paeger and Dr. Claus van der Velden.

Former CEO Dr. Christopher Missling, who was terminated "for cause" and whom the board said refused to resign his board seat following his termination, and independent director Dr. Steffen Thomas have not been renominated. Anavex appointed Dr. Terrie Kellmeyer, formerly the company's Senior Vice President of Clinical Development, as interim CEO.

The board filed a preliminary proxy statement with the Securities and Exchange Commission on July 31, 2026, ahead of the annual meeting.

The board also urged stockholders to reject a separate proxy campaign filed July 24, 2026, by PVG Asset Management Corporation and Patrick S. Adams, which seeks to replace the entire Anavex board. The board stated that PVG and Adams own approximately 0.35% of the company's outstanding common shares as of July 30, 2026, and characterized the PVG proxy statement as deficient and noncompliant with SEC rules.

Anavex said its lead development candidate is oral blarcamesine (ANAVEX 2-73), targeting early Alzheimer's disease, Rett syndrome and Fragile X syndrome. The company said it has no long-term debt and maintains what it described as a strong cash runway.

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