Cortex AMPAKINE(R) Drugs Can Reverse Age Related Memory Decline in an Animal Model.

IRVINE, Calif. -- University of California, Irvine investigators demonstrate how AMPAKINE drugs boost the brain's own protein for fighting age-related deficits in memory mechanism

In the August 2006 issue of The Journal of Neurophysiology, Drs. Christine Gall and Gary Lynch and their research staff reported that it was possible to use AMPAKINE compounds to reverse age-related declines in cognitive functions in old rats, returning their cognitive ability to that seen in young rats. The authors attributed this effect to the ability of AMPAKINE drugs to increase endogenous brain-derived neurotrophic factor (BDNF) in the neurons in the brains of older rats. The study used two of Cortex Pharmaceuticals' (AMEX: COR) high impact AMPAKINE drugs that are in preclinical development testing at the company. When an antagonist to BDNF was co-administered with the AMPAKINE compounds, the older rats returned to age-related cognitive impairment level.

Dr. Gall said, "This is a significant discovery because these results indicate the exciting possibility that AMPAKINE compounds could be used to treat learning and memory loss associated with normal aging."

Cortex is developing both high and low impact AMPAKINE drugs that bind at different sites on the AMPA-receptor of neurons. The high impact compounds under development are orally active and therefore the up-regulation of BDNF with these drugs is a significant finding not only for restoring memory declines as a result of aging, but also for other neurodegenerative diseases such as Huntington's Disease, Fragile X, Parkinson's and Alzheimer's disease, where elevation of BDNF may produce disease modifying effects in the patient populations.

The article by Drs. Gall and Lynch can be found by accessing the following website link: http://jn.physiology.org/cgi/content/abstract/96/2/677.

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/)

Forward-Looking Statement

Note - This press release contains forward-looking statements concerning the Company's, and others' research and development activities. The development of commercially successful products based on success of such activities depends on a number of factors, including the risks that the Company's proposed compounds may at any time be found to be unsafe or ineffective for the indications under test and that pre-clinical and clinical studies may at any point be terminated, suspended or take substantially longer than anticipated to complete. As discussed in the Company's Securities and Exchange Commission filings, the Company's proposed products will require additional research, lengthy and costly clinical testing and regulatory approval. AMPAKINE compounds are investigational drugs and have not been approved for the treatment of any disease.