Afexa Comments on Recent Shareholder Announcement

EDMONTON, ALBERTA – Monday, July 18, 2011

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

At this time, Afexa Life Sciences Inc. has nothing further to report. The Board is reviewing thesituation 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 planetthrough pioneering evidence-based natural medicines that empower people to achieve their healthpotential. The Company’s patented ChemBioPrint^® discovery and standardization technology enables thedevelopment of effective and safe medicines from complex natural sources, while ensuring reliable healthbenefits and batch-to-batch consistency. COLD-FX^®, a ChemBioPrint product, is the Company’s flagshipproduct and Canada’s leading over-the-counter (OTC) cold and flu remedy. It is officially indicated inCanada to help reduce the frequency, severity and duration of cold and flu symptoms by boosting theimmune 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 launchedCOLDSORE-FX in Canada and has a range of polymolecular drugs at various clinical and pre-clinicaldevelopment stages. This product pipeline includes COLD-FX pediatric, AFX-2 for ChronicLymphocytic Leukemia, Dilexaponan for cholesterol management, HT-1001 for Oxidative Stress and aproduct for blood glucose management.