Cortex Gets Funding for Alzheimer’s Drug Test

Cortex Pharmaceuticals Inc., an Irvine neuroscience company, said the Institute for the Study of Aging will fund testing of the company’s Ampakine CX516 in patients with mild cognitive impairment, the earliest recognized stages of Alzheimer’s disease.

The nonprofit foundation, based in New York, will provide $247,300 as a program-related investment, which means the company must repay the amount should the drug enter phase III clinical trials. It is now in early clinical trial.