Cortex Pharmaceuticals, Inc. announced that On August 18, 2015, the company entered into a contract hiring James S. J. Manuso, as its new President and Chief Executive Officer. Dr. Manuso is being hired for an initial three year term. Dr. Manuso is the former Chairman of the Board of Directors and Chief Executive Officer of Astex Pharmaceuticals, Inc., having served in such positions from July 2011 through October 2013.

Dr. Manuso currently serves on the board of directors of privately-held KineMed, Inc. Dr. Manuso is also being appointed as a director of the company, as of August 18, 2015, filling an existing vacancy on the Board. In addition to being a member of the Board, he has agreed to serve as Vice Chairman, a non-executive position. It has not yet been determined on which committees of the Board Dr. Manuso will serve.

On August 18, 2015, the company, concurrently with the hiring of James S. J. Manuso as the new President and Chief Executive Officer of the company, accepted the resignation of Dr. Arnold S. Lippa, as President and Chief Executive Officer. Dr. Lippa will remain the company's Executive Chairman and a member of the Board. Also on August 18, 2015, Dr. Lippa was named Chief Scientific Officer of the company, and the company entered into a contract with him in that capacity.