Cognetix Announces Mechanism of Action for Its Lead Compound -- CGX-1160 -- To Treat Chronic Intractable Pain.

SALT LAKE CITY -- Cognetix Inc. has identified the novel mechanism of action for CGX-1160, its lead compound in clinical development for the treatment of chronic intractable pain.

Following extensive studies, Cognetix scientists used neurotensin receptor knock-out mice to conclusively identify the neurotensin NTR1 receptor as the specific site through which CGX-1160 produces analgesia. A series of in vitro experiments has revealed that CGX-1160 is able to produce a stronger activation of the NTR1 receptor than neurotensin.

Cognetix is the only company in the world working on the NTR1 target for pain and will continue to examine whether the uniquely high efficacy of CGX-1160 at the NTR1 receptor may have applicability to the development of anti-psychotic drugs.

As a result of the discovery of the mechanism of action, Cognetix has filed a provisional patent to protect the methods of screening for peptidomimetics or small molecules, the composition of identified compounds and the uses of the identified compounds for pain and other indications.

About CGX-1160

CGX-1160 is a broad spectrum non-opioid analgesic. It is the synthetic form of a natural peptide extracted from the venom of the Conus Geographus sea snail. The discovery of the mechanism of action provides further evidence of the differentiation between CGX-1160 and Elan's (NYSE:ELN) conopeptide based drug Prialt(R), which is currently marketed and sold in the United States and Europe.

CGX-1160 operates by activating the G-protein-coupled neurotensin NTR1 receptor (Prialt(R) inhibits the unrelated ion channel, n-type calcium channel), is a linear and smaller peptide, and has a significantly superior safety profile and therapeutic index than Prialt(R).

Cognetix has successfully completed its CGX-1160 Phase 1b clinical trial at Brigham and Women's Hospital in Boston, Mass. The trial was conducted in a small population of spinal cord injured patients. The results support the Company's opinion that CGX-1160 will be a safe and effective drug for the treatment of chronic intractable pain. Phase II clinical trials are forecast to commence in 2006.

In July 2005, the U.S. Food and Drug Administration (FDA) granted an Orphan Drug designation to CGX-1160 for the intrathecal treatment of neuropathic pain associated with spinal cord injury.

About Cognetix

Cognetix, Inc. is a private drug discovery and development company focused on the commercialization of conopeptide-based CNS pharmaceuticals. Conopeptides are a highly specialized, but structurally and functionally diverse group of peptides produced by venomous Conus sea snails, or cone snails. These snails use a complex venom "cocktail" composed of between 50 and 200 distinct and unique peptides. These peptides target a variety of therapeutically important ion channels and receptors with unprecedented potency and selectivity and represent a large and diverse pharmacopeia of bioactive molecules. This potent and subtype selective activity at many molecular targets is of primary interest in Cognetix' pharmaceutical drug development program.

The Company has a strong drug discovery program in the field of pain, powered by a platform consisting of the most extensive conopeptide libraries and conopeptide-related intellectual property position in the world. Cognetix believes it has the largest patent portfolio in the world on conopeptide sequences, uses, synthesis, and methods. This patent portfolio includes more than 80 issued or allowed U.S. and international patents and an additional 80 patents pending.