Anavex Life Sciences plans to refresh its board of directors, a step the company says marks critical progress in its work to enhance stockholder value.

The company, which develops treatments for central nervous system diseases, on Monday said it is recommending a refreshed slate of directors, nominating two new independent candidates: Gautam Patel and Adrian Senderowicz.

Both Patel and Senderowicz have significant life-sciences industry experience across leadership, strategy and drug development at the executive and board levels, as well as expertise in capital markets, clinical development and FDA regulatory matters, Anavex said.

The company's board said it believes both Patel's and Senderowicz's backgrounds will support the Anavex's growth and advance programs toward market approval and commercialization.

Patel and Senderowicz will be nominated alongside independent chairperson Jiong Ma, as well as independent directors Peter Donhauser, Axel Paeger and Claus van der Velden.

Christopher Missling, former chief executive of Anavex, has not been renominated for election following his refusal to step down from the board upon his termination, Anavex said. Independent director Steffen Thomas has also not been renominated, the company added.