Targacept to Present at the 13th International Congress on Schizophrenia Research

WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Mar 8, 2011 - Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics (TM), today announced that David A. Hosford, M.D., Ph.D., Targacept's Vice President of Clinical Development, is scheduled to present data from Targacept's Phase 2 trial of TC-5619 in cognitive dysfunction in schizophrenia at the 13th International Congress on Schizophrenia Research (ICOSR) being held in Colorado Springs, Colorado from April 2 through April 6, 2011.

In particular, Dr. Hosford is scheduled to present a poster titled “The alpha7 neuronal nicotinic receptor (NNR) agonist TC-5619 had beneficial effects and was generally well tolerated in a Phase 2 trial in cognitive dysfunction in schizophrenia” on April 3, 2011 from 12:00 p.m. to 2:30 p.m. Mountain Time in Broadmoor Hall A at the Broadmoor Events Center Complex and later as part of the conference's New Drug Session titled “Advances in Medication Development and Assessment,” on Monday, April 4, 2011 from 10:00 a.m. to 12:00 p.m. Mountain Time in the International Center South of the Broadmoor Events Center Complex.

Abstracts for the conference have been posted and are available on the ICOSR website at http://www.schizophreniacongress.org/index.php.

About Targacept

Targacept is developing a diverse pipeline of innovative NNR Therapeutics™ for difficult-to-treat diseases and disorders of the nervous system. NNR Therapeutics selectively modulate the activity of specific neuronal nicotinic receptors, a unique class of proteins that regulate vital biological functions that are impaired in various disease states. Targacept's lead program, TC-5214, is being co-developed with AstraZeneca and is in Phase 3 clinical trials as an adjunct treatment for major depressive disorder. Targacept leverages its scientific leadership and proprietary drug discovery platform Pentad™ 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.

TARGACEPT

Building Health, Restoring IndependenceSM

Forward-Looking Statements

This press release includes “forward-looking statements” made under the provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements other than statements of historical fact regarding, without limitation, the benefits that may be derived from or future commercial position of TC-5619 or Targacept's plans, expectations or future operations, financial position, revenues, costs or expenses. Actual results, performance or experience may differ materially from those expressed or implied by any forward-looking statement as a result of various important factors, including without limitation risks and uncertainties relating to: AstraZeneca's discretion in determining whether to license TC-5619. These and other risks and uncertainties are described in greater detail under the heading “Risk Factors” in Targacept's most recent Annual Report on Form 10-K and in other filings that it makes with the Securities and Exchange Commission. As a result of the risks and uncertainties, the results or events indicated by the forward-looking statements may not occur. Targacept cautions you not to place undue reliance on any forward-looking statement.

In addition, any forward-looking statement in this press release represents Targacept's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Targacept disclaims any obligation to update any forward-looking statement, except as required by applicable law.

NNR Therapeutics™, Pentad™ and Building Health, Restoring IndependenceSM are trademarks or service marks of Targacept, Inc.

Contact: Targacept, Inc.
Alan Musso, 336-480-2186
SVP, Finance and Administration and CFO
Email: alan.musso@targacept.com
or
Linnden Communications
Michelle Linn, 508-362-3087
Email: linnmich@comcast.net

 

Posted: March 2011

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