Head of Biomedical Firm to Resign
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IRVINE — Cortex Pharmaceuticals Inc., founded by three neuroscientists from UC Irvine, announced Friday that Vaughan H. J. Shalson will resign as president and chief executive for personal reasons, effective Dec. 19.
The small company, which does research on drugs to help prevent brain degeneration from aging and strokes, appointed director Jay D. Glass to fill Shalson’s posts until a permanent successor is selected.
Since joining the company in September, 1990, Shalson, 46, has commuted weekly to Orange County from San Francisco, where he and his family reside. Company sources said he wants to spend more time with his family.
Four years ago, Glass, 46, helped establish the MedCorp Development Fund, a Newport Beach venture-capital pool specializing in biomedical companies.
Cortex also announced that Raymond T. Bartus, 44, has been promoted to the newly created positions of executive vice president and chief operating officer for his work in the development of calpain inhibitors for treatment of stroke-related brain damage.
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