Axonyx to Present at the Wall Street Analyst Forum; Presentation to be Web Cast Live on Corporate Web Site

Axonyx Inc. (NASDAQ: AXYX), today announced that Gosse
Bruinsma, MD, President and CEO of Axonyx, will be presenting at the
Wall Street Analyst Forum, which will take place at the Princeton
Club, New York, NY. Dr. Bruinsma is expected to discuss the Company's
clinical development program, strategic initiatives and market
opportunities. The Axonyx presentation is scheduled for 8:20 am
Eastern Time on Wednesday, March 1, 2006.
   The presentation will be Web cast live via streaming audio and can
be accessed by visiting the Axonyx web site at www.axonyx.com. For
those unable to listen to the live web cast, a replay of the
presentation will be available for a limited time on the Company's web
site.

   About Axonyx

   Axonyx Inc. is a U.S.-based biopharmaceutical company engaged in
the acquisition and development of proprietary pharmaceutical
compounds for the treatment of Central Nervous System disorders. The
Company currently has three compounds in development for Alzheimer's
disease, namely Phenserine - a potential symptomatic and disease
progression treatment of mild to moderate Alzheimer's Disease (AD),
Posiphen(TM) - a potential disease progression treatment for AD now in
Phase I, and BisNorCymserine (BNC) - a potential symptomatic treatment
of severe AD now in pre-Investigational New Drug (IND) stage. The
Company is looking to identify licensing partners to further the
development of Phenserine.

   This press release may contain forward-looking statements or
predictions. These statements represent our judgment to date, and are
subject to risks and uncertainties that could materially affect the
Company, including those risks and uncertainties described in the
documents Axonyx files from time to time with the SEC, specifically
Axonyx's annual report on Form 10-K. Specifically, with respect to our
drug candidates Phenserine, Posiphen(TM) and BisNorCymserine, Axonyx
cannot assure that: any preclinical studies or clinical trials,
whether ongoing or conducted in the future, will prove successful, and
if successful, that the results can be replicated; safety and efficacy
profiles of any of its drug candidates will be established, or if
established, will remain the same, be better or worse in future
clinical trials, if any; pre-clinical results related to cognition and
the regulation of beta-APP will be substantiated by ongoing or future
clinical trials, if any, or that any of its drug candidates will be
able to improve the signs or symptoms of their respective clinical
indication or slow the progression of Alzheimer's disease; any of its
drug candidates will support an NDA filing, will be approved by the
FDA or its equivalent, or if approved, will prove competitive in the
market; or that Axonyx will have or obtain the necessary financing to
support its drug development programs. Axonyx undertakes no obligation
to publicly release the result of any revisions to such
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.