Orange County Register

Cortex Pharmaceuticals Inc. in Irvine has signed a definitive agreement for a $4 million equity investment from an unnamed institutional investor.

The deal will give Cortex $2 million, which it will use for working capital and general corporate purposes. The investor will receive 4,029 in preferred shares and warrants for more than 6 million common shares.

Cortex is a neuroscience company working on therapies for psychiatric disorders, neurological diseases and brain mediated breathing problems. Cortex is currently enrolling patients for clinical trials of a potential treatment for sleep apnea.

Rodman & Renshaw LLC was the placement agent for the transaction.

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