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Targacept awarded grant to conduct Parkinson’s research

July 24, 2009 By: NCTechNews Category: Biopharmaceutical

(Winston-Salem, N.C.) Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics (TM), today announced that it has been awarded a grant of over $600,000 from The Michael J. Fox Foundation for Parkinson’s Research (MJFF). The grant, which was awarded as part of MJFF’s Therapeutics Development Initiative for Spring 2009, is designed to fund preclinical research involving the use of compounds that modulate neuronal nicotinic receptors to address Levodopa-induced abnormal involuntary movements, known as dyskinesias. The terms of the grant provide for Targacept to receive the funds as the research is performed over an expected period of one year.

Levodopa, or L-dopa, is a drug that is converted to dopamine in the brain and is commonly used to treat the motor symptoms associated with loss of dopaminergic nerve cells in patients suffering from Parkinson’s disease. However, long-term L-dopa use frequently leads to disabling complications, including dyskinesias that can be as debilitating as Parkinson’s disease itself.

Kristen Jordan, Ph.D., Targacept’s Director of Behavioral Pharmacology, will serve as Principal Investigator for the research.

“We are honored to receive this grant and inspired by MJFF’s commitment to finding new solutions to meet the needs of patients with Parkinson’s disease,” said J. Donald deBethizy, Ph.D., Targacept’s President and Chief Executive Officer.

Targacept is a clinical-stage biopharmaceutical company that discovers and develops NNR Therapeutics (TM), a new class of drugs for the treatment of central nervous system diseases and disorders. Targacept’s product candidates selectively modulate neuronal nicotinic receptors that serve as key regulators of the nervous system to promote therapeutic effects and limit adverse side effects. Targacept has clinical-stage product candidates in development for major depressive disorder and resistant hypertension, attention deficit/hyperactivity disorder, Alzheimer’s disease and cognitive dysfunction in schizophrenia, as well as multiple preclinical programs. Targacept also has a cognition-focused collaboration with AstraZeneca and a strategic alliance with GlaxoSmithKline. Targacept’s news releases are available on its website at www.targacept.com.

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