Cortex Pharmaceuticals Inc. (CORX) to Buy Back AMPAKINE Assets and Intellectual Property
Cortex Pharmaceuticals Inc., a neuroscience company focused on novel drug therapies for treating psychiatric disorders, neurological diseases and sleep apnea, has entered into an agreement with Biovail Laboratories International SLR, a wholly owned subsidiary of Valeant Pharmaceuticals International Inc., to regain the AMPAKINE® assets and rights related to respiratory depression. The new agreement follows Biovail's purchase of the rights and compounds from Cortex in March 2010. Following the September 2010 merger of Biovail and Valeant, a financial review of the product development pipeline led the combined company to make the decision that Biovail would exit the program, allowing for discussions…