SCOTT HAGEN NAMED CORTEX CFO
SCOTT HAGEN NAMED CORTEX CFO IRVINE, Calif., Jan. 15 /PRNewswire/ -- CORTEX Pharmaceuticals Inc.
(NASDAQ: CORX) today announced that D. Scott Hagen has been elected Chief Financial Officer, reporting to Dr. Jay D. Glass, Ph.D., Acting President and Chief Executive Officer. Mr. Hagen will continue to serve as Corporate Secretary, a position he has held since August 1991.
An 11-year industry veteran, Mr. Hagen joined CORTEX as Vice President Finance and Administration two months after the company's operational founding in 1988. He was named to the additional positions of Assistant Secretary and Treasurer in February 1989 and October 1990, respectively, and played a key role in preparing the company for its initial public offering in July 1989. More recently, he was actively involved in negotiations that culminated in CORTEX's January 7 announcement of a $26.5 million agreement with Alkermes, Inc. for the collaborative development of enzyme inhibitors to treat brain disease. Commenting on the appointment, Dr. Glass said, "Scott Hagen's new, higher level of responsibility on our management team recognizes the strong leadership and direction he has provided for CORTEX's financial affairs, as well as his continuing contributions to the success of the company's overall operations." Prior to joining CORTEX, Mr. Hagen was for seven years affiliated with Chembiomed Ltd., a Canadian biopharmaceutical company, where he held a progression of research and administrative positions. During his tenure at Chembiomed, he was responsible for developing the company's management information systems and also oversaw construction and commissioning of a 60,000-square-foot FDA-licensed research and manufacturing facility. Mr. Hagen holds a B.S. in biochemistry and an M.B.A. from the University of Alberta in Edmonton, Canada, where he also completed two years of post-graduate study in biochemistry. CORTEX, a leading-edge drug discovery company, is developing products for the treatment and diagnosis of age-related diseases and disorders of the brain. CORTEX has established a strong proprietary position in the field of calpain inhibition and has filed several world-wide patent applications. -0- 1/15/92 /CONTACT: Eugene G. Heller of Silverman, Heller Associates, 310-208-2550, for CORTEX Pharmaceuticals/ (CORX) CO: CORTEX Pharmaceuticals Inc. ST: California IN: MTC SU: PER
AL-JL -- LA002 -- 9857 01/15/92 09:02 EST
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|Date:||Jan 15, 1992|
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