Cortex Lands Grant
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It may not be much, but it’s the thought that counts for Cortex Pharmaceuticals Inc.
The tiny Irvine developer of drug therapies for neurological and psychiatric disorders just landed a $100,000 grant from the National Institutes of Health to help develop a treatment for schizophrenia. The money will help fund the company’s search for new compounds that could be administered once a day.
The new substances could be formulated from the company’s CX516 compound, which is being evaluated in two trials involving patients with the disease. Officials said that although results of the CX516 tests have been “promising,” the compound has to be administered several times a day.
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