Cortex continuing development of Ampakines for Alzheimers and Schizophrenia

IRVINE, Calif., May 9 -- Cortex Pharmaceuticals, Inc. today announced: "We made significant progress in the third quarter with the initiation of a Phase I/IIa clinical trial of our lead product, AMPALEX(TM), in Alzheimer's disease patients. In addition, we completed a financing that will assist in funding our ongoing product development efforts," said Vincent F. Simmon, Ph.D., President and Chief Executive Officer of Cortex. Dr. Simmon added, "We intend to continue our clinical research programs in additional target populations, including the initiation of trials in schizophrenic patients." Cortex, located in Irvine, California, is a neuroscience company focused on the development of drugs for the treatment of neurological and psychiatric disorders. The primary programs at the company are centered on the AMPAKINES(TM), a family of compounds that enhance the functioning of the AMPA receptor. The AMPA receptor plays a key role in memory formation and is involved in most "excitatory" communication in the human brain, which in turn is important for higher cognitive functions. Cortex is developing the AMPAKINES for potential use in the treatment of deficits of memory and cognition due to Alzheimer's disease and in the treatment of the cognitive dysfunction that is associated with schizophrenia.

SOURCE Cortex Pharmaceuticals, Inc. Irvine, California