Alkermes, Cortex Pharmaceuticals deal

CORX reacquired the rights to its calpain inhibitor technology for a three-year $1 million promissory note. CORX also will make future payments to ALKS if CORX enters into a strategic alliance for, or sells, calpain inhibitors.

ALKS (Cambridge, Mass.) was developing the technology for certain neurodegenerative conditions under a 1992 agreement. The reacquisition allows CORX (Irvine, Calif.) to develop calpain inhibitors to treat stroke and head injury, as well as cardiovascular and other indications. The technology is in preclinical development. ...