Targacept Scientists to Present at the 37th Annual Meeting of the Society for Neuroscience

WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Oct 26, 2007 - Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics (TM), today announced plans for its scientists to make poster presentations at the 37th annual meeting of the Society for Neuroscience (SFN). The SFN meeting will be held November 3-7, 2007 at the San Diego Convention Center.

Prior to the meeting, a satellite symposium, entitled "Nicotinic Acetylcholine Receptors as Therapeutic Targets: Emerging Frontiers in Basic Research & Clinical Science," will be held October 31-November 2 at the same venue and will highlight the work being performed in the NNR space. Targacept is a leader in this field, with more than 20 years of focused research and investment in NNR science. Patrick M. Lippiello, Ph.D., one of the founders of Targacept, will serve as chairman for a session on attention deficit hyperactivity disorder, depression and epilepsy.

Targacept's posters highlight research results for a number of its NNR Therapeutics in development across a spectrum of indications characterized by significant unmet medical need and commercial opportunity, including:

-- Cognitive Impairment: AZD3480 (TC-1734), which is currently in separate Phase II trials for Alzheimer's disease and cognitive deficits in schizophrenia being conducted by Targacept's collaborator AstraZeneca;

-- Depression: TC-5214, a single enantiomer of mecamylamine hydrochloride that the company plans to advance into clinical development as an augmentation therapy in the first quarter of 2008; and

-- Pain: TC-6499, a product candidate for neuropathic pain for which the company expects to initiate clinical development by the end of the year. TC-6499 is subject to Targacept's strategic alliance with GlaxoSmithKline announced earlier this year.

The posters will be available on the company's website www.targacept.com for at least two weeks following the meeting.

About Targacept

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. Its 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 product candidates in development for Alzheimer's disease and cognitive deficits in schizophrenia, pain, and depression and anxiety disorders, as well as multiple preclinical programs. Targacept also has strategic alliances with AstraZeneca and GlaxoSmithKline. Additional information about Targacept is available at www.targacept.com.

Forward Looking Statements

Any statements in this press release that are not purely historical in nature, including, without limitation, statements regarding the progress, timing or scope of the research and development of AZD3480 (TC-1734), TC-5214, TC-6499 or any of our other product candidates or related regulatory filings or clinical trials, our plans, expectations, future operations, financial position, revenues or costs, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied by forward-looking statements as a result of various important factors, including and risks and uncertainties relating to: the results of clinical trials and non-clinical studies and assessments with respect to our current and future product candidates in development; the conduct of such trials, studies and assessments, including the performance of third parties that we engage to execute them and difficulties or delays in the completion of patient enrollment or data analysis; the timing and success of submission, acceptance and approval of regulatory filings; our ability to obtain substantial additional funding; and our ability to establish additional strategic collaborations. These and other risks and uncertainties are described in greater detail under the heading "Risk Factors" in our most recent Annual Report on Form 10-K and in other filings that we make 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. We caution you not to place undue reliance on any forward-looking statement. In addition, any forward-looking statements in this release represent our views only as of the date of this release and should not be relied upon as representing our views as of any subsequent date. We anticipate that subsequent events and developments may cause our views to change. Although we may elect to update these forward-looking statements publicly at some point in the future, we specifically disclaim any obligation to do so, except as required by applicable law.

Contact

Targacept, Inc.
Alan Musso, VP and CFO, 336-480-2186
alan.musso@targacept.com
or
Linnden Communications
Michelle Linn, 508-419-1555
linnmich@comcast.net

Posted: October 2007

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