Targacept Announces Decision by AstraZeneca to Advance AZD1446 in Alzheimer’s Disease

WINSTON-SALEM, N.C.--(BUSINESS WIRE)-- Targacept, Inc. (NASDAQ:TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics™, today announced that AstraZeneca has informed the company that it plans to progress the development of Targacept’s product candidate AZD1446 as a treatment for Alzheimer’s disease.

AZD1446 is a selective modulator of the alpha4beta2 neuronal nicotinic receptor that arose out of a research collaboration conducted by Targacept and AstraZeneca. Under the terms of a 2005 collaborative research and license agreement, AstraZeneca is responsible for conducting and funding the development and potential commercialization of AZD1446. The next clinical trial of AZD1446 is expected to be a Phase 2 study as an adjunct treatment to donepezil in patients with mild to moderate Alzheimer’s disease.

“AstraZeneca’s decision to invest further in the development of AZD1446 reflects well on the continued promise of the alpha4beta2 NNR mechanism in Alzheimer’s disease,” said J. Donald deBethizy, Ph.D., President and Chief Executive Officer of Targacept. “The planned evaluation of AZD1446 as an augmentation treatment in Alzheimer’s disease complements Targacept’s ongoing Phase 2b study of AZD3480 as a monotherapy as we and AstraZeneca strive to provide an effective treatment for this major unmet medical need.”

About Alzheimer’s Disease

Alzheimer’s disease is a progressive, degenerative disorder that attacks the brain’s nerve cells, or neurons, resulting in loss of memory, thinking and language skills, and behavioral changes. In 2010, there were an estimated 18 million people with Alzheimer’s disease in the world’s seven major pharmaceutical markets, the United States, France, Germany, Italy, Spain, United Kingdom and Japan (source: Decision Resources).

About Targacept

Targacept is developing a diverse pipeline of innovative NNR TherapeuticsTM for difficult-to-treat diseases and disorders of the nervous system. NNR Therapeutics selectively modulate the activity of specific neuronal nicotinic receptors, unique proteins that regulate vital biological functions that are impaired in various disease states. Targacept’s clinical pipeline includes five mid to late-stage product candidates, all representing first-in-class opportunities. Targacept leverages its scientific leadership and proprietary drug discovery platform PentadTM to generate novel small molecule product candidates to fuel its pipeline and attract significant collaborations with global pharmaceutical companies. For more information, please visit www.targacept.com.

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CONTACT

Targacept, Inc. Alan Musso, 336-480-2186 SVP, Finance and Administration and CFO [email protected] or Linnden Communications Michelle Linn, 508-362-3087 [email protected]

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