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Indolizines are heteroaromatic compounds containing condensed five and six membered rings with bridging nitrogen. They are isoelectronic with indole and represent a group of heterocyclic compounds structurally related to purines. Indolizine skeletons with different degrees of unsaturation are present in wide variety of natural and unnatural azacyclic compounds. Most of the naturally occurring indolizines have been isolated from species of genus dendrobates (poison-arrow frogs) [1,2]; monomorium (ants) [3]; dendrobium (orchids) [4]; tylophora [5] and the leguminosae family (plants). Indolizine alkaloids display broad spectrum of biological activities. Polyhydroxylated indolizine alkaloids are excellent inhibitors of biologically important pathways. These include the binding and processing of glycoproteins [6], potent glycosidase inhibitor activities [7,8], activity against AIDS [9,10] as well as against other important pathologies [11]. The 1-azabicyclo[4,3,0]nonane (indolizine) framework occupies a special place in heterocyclic systems due to the presence of this structural assembly in a number of natural products of biological importance such as tabersonine [12], (-)-strychnine [13], (+)-vinblastine [14], (-)-monomorine [15], (-)-gephyrotoxin Synthesis and Characterization of Ethyl 7-Acetyl-2-substituted 3-(substituted benzoyl)indolizine-1-carboxylates for in vitro Anticancer Activity