Cortex's Co-founder, Professor Gary Lynch to Give Two Presentations on the Role of AMPA Type Glutamate Receptor Upmodulators-AMPAKINE Drugs-in Improving Memory and Cognition at the 43rd Annual Meeting of the ACNP on December 15, 2004.

IRVINE, Calif. -- Cortex Pharmaceuticals, Inc. (AMEX: COR) announced that Gary S. Lynch, Ph.D., a co-founder of the Company and Professor of Psychiatry at the University of California in Irvine (UCI) will speak twice at the 43 Annual Meeting of the American College of Neuropsychopharmacology (ACNP) at the Caribe Hilton in San Juan, Puerto Rico on December 15, 2004. In the first symposium on "Developing Drugs for Cognitive Pathology in Schizophrenia", Dr. Lynch will discuss, at 9:30 am (EST), the novel strategy of using AMPAKINE (R) drugs to improve the cognitive pathology of schizophrenia, which is currently sub-optimally treated with available antipychotics therapies. At the evening symposium, "Therapeutic Modulation of the Glutamate Neurotransmission: Where Do We Go From Here?" at 7:30 pm (EST), Dr. Lynch will address the opportunities and challenges in optimizing AMPA receptor upmodulators pharmacology in the brain.

Dr. Lynch co-pioneered with Gary Rogers, Ph.D, Senior Vice President of Pharmaceutical Discovery at Cortex, the development of AMPA receptor upmodulators in 1993 at UCI's Center for the Neurobiology of Learning. He is a member of the Neuroscience Society and the International Brain Research Organization. He also serves on the Advisory board of the Cognitive Neurosciences Institute. Dr. Lynch has authored or co-authored over 500 articles and a number of books in the areas of neurobiology, cognition and memory. Dr. Lynch holds a B.A. in Psychology from the University of Delaware and a Ph.D. in Psychology from Princeton University. Dr. Lynch is a scientific consultant to Cortex and actively pursues AMPA receptor research in his laboratory at UCI. compounds amplify the effects of glutamate, the primary excitatory neurotransmitter in the brain responsible for higher-order behaviors and cognitive activities, such as thinking, smelling, touching and memory. AMPAKINE COMPOUNDS, including Cortex's lead product candidate, CX717 were mentioned in the December 6, 2004 Newsweek cover story, "The Quest for Memory Drugs."

About Cortex Pharmaceuticals:

Cortex, located in Irvine, California, is a neuroscience company focused on novel drug therapies for neurological and psychiatric disorders. The Company is pioneering a class of proprietary pharmaceuticals called AMPAKINE compounds, which act to increase the strength of signals at connections between brain cells. The loss of these connections is thought to be responsible for memory and behavior problems in Alzheimer's disease. Many psychiatric diseases, including schizophrenia, occur as a result of imbalances in the brain's neurotransmitter system. These imbalances may be improved by using the AMPAKINE technology. Cortex has alliances with N.V. Organon for the treatment of schizophrenia and depression and with Les Laboratoires Servier for the development of AMPAKINE compounds to treat the neurodegenerative effects associated with aging and disease, including Mild Cognitive Impairment, Alzheimer's disease and anxiety disorders. (http://www.cortexpharm.com/)