Servier exercises option for Cortex's CX1632

Servier (Neuilly-sur-Seine, France) exercised an option from Cortex Pharmaceuticals Inc. (OTCBB:CORX) to license exclusive, worldwide rights to develop and commercialize CX1632. Cortex will receive $2 million up front, and is eligible for milestones and royalties. Servier paid Cortex $1 million in June for the option to the Ampakine, which has completed Phase I testing for Alzheimer's disease (AD). Ampakines are positive modulators of the AMPA-type glutamate receptors. Details were not disclosed. ...