Cortex applauds Servier for intent to move High Impact AMPAKINE compound into Phase I clinical studies

Cortex Pharmaceuticals, Inc. (OTCBB: CORX) announced that it had been notified by Les Laboratoires Servier ("Servier"), France's largest privately held pharmaceutical company, of their intent to move forward into Phase I clinical studies with the jointly-discovered High Impact AMPAKINE^® compound S47445 (CX1632).

“Cortex applauds Servier for their persistence in bringing this compound forward”

"We are very pleased with the progress Servier has made with moving S47445 through pre-clinical efficacy, safety and toxicology studies, and into man in the near future," said Mark Varney, Ph.D., Cortex's President and Chief Executive Officer. "The High Impact AMPAKINE technology represents a potential disease-modifying approach to treat Alzheimer's disease and other memory and cognitive impairments associated with a range of neurodegenerative diseases because of the ability of the compounds to stimulate growth factors within the brain."

In October 2000, Cortex entered into a Research Collaboration Agreement and a license Agreement with Servier, which was completed at the end of 2006 and permitted Servier another year to select three compounds for development. Servier selected S47445 for further development, and discontinued development of the other two compounds. Under the License Agreement, Servier can develop and distribute S47445 in Europe, Asia, the Middle East and certain South American countries as a treatment for neurodegenerative diseases and anxiety disorders. Cortex retains the rights to develop and distribute S47445 in North America, most of South America, Australia and New Zealand.

"Cortex applauds Servier for their persistence in bringing this compound forward," said Dr. Varney. "This announcement is great news for both our companies and for the many patients who suffer from Alzheimer's disease and other neurodegenerative diseases."

Dr. Emmanuel Canet, head of Servier R&D commented, "Discovery of new therapeutic approaches for neurodegenerative disorders such as Alzheimer disease remains a major challenge and it is by joining forces through collaborations such as the one developed with Cortex, that we will be able to move forward to the clinic with innovative drugs for these diseases. S47445 fulfills all the criteria needed to enter clinical research and development as this High Impact AMPAKINE has demonstrated a compelling profile of activity in pre-clinical models. We now are looking forward to evaluating its clinical benefit in Alzheimer disease patients."