TSX: FXA POSITIONING FOR GROWTH Jack Moffatt Chairman and CEO Canaccord Genuity Healthy Living Conference October, 2010

Forward-Looking Statements Sections of this presentation contain forward-looking statements. These statements are based upon numerous assumptions which Afexa cannot control and involve risks and uncertainties that could cause actual results to differ. These statements should be understood in light of the risk factors and more detailed cautions regarding forward-looking statements set forth in the Company's filings with the Securities Regulators including, but not limited to, the Company's Annual Information Form and other documents filed on System for Electronic Disclosure and Retrieval ( The forward- looking information and statements contained in this presentation speak only as at the date of this presentation 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.

Advisory Regarding Regulatory Statements In Canada under Health Canada’s regulatory guidelines and Afexa’s product license (NPN) for COLD-FX®, the Company is able to make claims about its COLD-FX clinical studies and proven efficacy in treating colds and flu. In the U.S market, under the FDA guidelines, COLD-FX is classified as a dietary supplement for enhancing immune system function. Reference to clinical trials and medical claims in this presentation relate to the Canadian marketplace.

OUR VISION To deliver the most trusted health brand on the planet Afexa Overview WHO WE ARE Afexa Life Sciences Inc., founded in 1992, develops and commercializes innovative, evidence-based natural medicines. Our lead product is COLD-FX ®, Canada’s #1 selling cold and flu remedy

Afexa Life Sciences Inc. TSX: FXA Shares Outstanding: 104 million Cash Position June 30: $8.6 million (CDN) Annual Sales (F2009)$47.6 million (CDN) Market Cap: Approx. $60 million (CDN) Employees:120

Afexa’s Commercialized Products

Natural Health Products Industry

ChemBioPrint Proprietary Technology Biological Fingerprinting Polymolecular active constituents are tested for multiple biological or pharmacological responses indicating health and/or therapeutic benefit Chemical Fingerprinting Multiple chemical analysis combining different chromatographic detectors provides precise chemical identity of multiple active constituents of a product Consists of two-dimensional fingerprinting

Health Canada-Approved Medical Claims for COLD-FX® The Natural Health Products Directorate issued a product license and natural product number (NPN) for COLD-FX Non-Traditional Comprehensive Treatment Claim “helps reduce the frequency, severity and duration of cold and flu symptoms by boosting the immune system.”

Canada’s #1 Selling Brand for All Cold and Flu Remedies & Natural Supplements The Nielsen Company MarketTrack National all channel service for Cold Remedies (including Antihistamines), and Natural Supplements for 52 week period ending July 3, 2010

COLD-FX – Clinical Trial Results Published in Canadian Medical Association Journal * * Oct, 2005 Vol. 173, No. 9; Healthy adults from the general population 25% Reduction in average number of colds & flu 56% Reduction in number of recurrent colds & flu 31% Reduction in severity or symptoms 35% Reduction in symptom duration

COLD-FX – Clinical Trial Results 89% reduction in relative risk of cold & flu Results of a randomized control trial in healthy adults (n=43) 1 Results of randomized control trial in institutionalized seniors (n=198) 2 1 McElhaney, JACM 2006; 2 McElhaney, JAGS % reduction in symptom duration in community- dwelling seniors Days 12.6 Days Placebo 5.6 Days COLD-FX® 12.6 Days Placebo 5.6 Days COLD-FX®

Health Canada-Approved Medical Claims for COLD-FX® The Natural Health Products Directorate issued a product license and natural product number (NPN) for COLD-FX Non-Traditional Comprehensive Treatment Claim “helps reduce the frequency, severity and duration of cold and flu symptoms by boosting the immune system.”

Absenteeism in the Workplace 2009 Absentee Days VS 7.8 days * 2.1 days ** 2009 national average2009 Afexa average *Statistics Canada based on full-time employees, absentee days due to illness or disability ** COLD-FX supplied free to all employees

Consumer Purchases $ in Millions Growing a Market Leader COLD-FX 5 year CAGR: 48% Total COLD-FX Total Tylenol Cold/Flu Total Advil Cold/Flu COLD-FX 4 year CAGR: 13% Source: Nielsen MarketTrack, National All Channels, Calendar Years CAGR: Compound Annual Growth Rate

Financial Summary (1) EBITDA – Earnings before interest, income taxes, depreciation, amortization and stock based compensation (2) 6 month period ended March 31, 2010 (new year-end) Revenue & EBITDA (1) growth ($CDN millions)

Financial Summary month period ended 03/31/10 Sales$49.4 Million$47.6 Million$34.4 Million Gross Margin65%67%68% Earnings Before Tax $7.6 Million$2.2 Million$4.3 Million Cash & Near Cash $9.4 Million$3.5 Million$17.7 Million Total Assets$42.0 Million$37.9 Million$44.0 Million

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OUR VISION To deliver the most trusted health brand on the planet Our Vision

Parallel Growth Drivers Market Diversification Product Diversification

Founder and CSO Dr. Jacqueline Shan Heads a Strong Scientific Team that is Driving Market and Product Diversification

Market and Product Diversification Well Underway COLD-FX® is the Canadian market leader for flu and colds Profitable and able to self-fund full cycle of research, clinical studies, launch and marketing of new products A proven marketing and sales platform for launching new products into the Canadian marketplace A proven science-based company pioneering natural medicines that empower people to achieve their health potential Positioned to focus on opportunities outside Canada

Parallel Growth Drivers Market Diversification

4 3 Market Diversification 1 2

Parallel Growth Drivers Product Diversification

Branching Out With New Polymolecular Botanical Drugs 26

ChemBioPrint Proprietary Technology Biological Fingerprinting Polymolecular active constituents are tested for multiple biological or pharmacological responses indicating health and/or therapeutic benefit Chemical Fingerprinting Multiple chemical analysis combining different chromatographic detectors provides precise chemical identity of multiple active constituents of a product Consists of two-dimensional fingerprinting

Product Pipeline DiscoveryPre- Clinical Approval End-Product Launch 1 – 2 years3 – 5 years6 months – 2 years Cholesterol Management COLD-FX ® Pediatrics Seasonal Allergy Cancer Support Oxidative Stress & Brain Health Glucose Management Blood Pressure Management

ClinicalDiscoveryPre-Clinical COLD-FX Pediatrics Children 3-11 years old First clinical trial Safety Complete and successful Second clinical trial planned; randomized, double-blind, placebo-controlled Approval End-Product Launch 1 – 2 years3 – 5 years6 months – 2 years

Product Pipeline DiscoveryPre- Clinical Approval End-Product Launch 1 – 2 years3 – 5 years6 months – 2 years Cholesterol Management COLD-FX ® Pediatrics Seasonal Allergy Cancer Support Oxidative Stress & Brain Health Glucose Management Blood Pressure Management TLR Therapeutics Anti-Viral Cancer Management Vaccine Adjuvant

Investing in Afexa Maturing Canadian science company with highly accepted commercial products with potential to leverage proven science across new medicines and markets Board of Directors, composed of strong and knowledgeable individuals from a wide range of disciplines, provides oversight and guidance Laboratory and clinical breakthroughs and development well underway Strong future growth potential Market and product expansion well underway Full spectrum of in-house professionals capable of building strongly branded products from conceptualization to commercialization