CWRUObserver.com -Financial News and Headlines - NYSE, Nasdaq, OTC's

[sublime]

TRGT 9.14 Targacept Initiates Phase I Clinical Trial of TC-5619
Jul 26, 2007 8:55:00 AM
Copyright Business Wire 2007

WINSTON-SALEM, N.C.--(BUSINESS WIRE)--

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 initiated a Phase I clinical trial of TC-5619, a novel small molecule that modulates the activity of the neuronal nicotinic receptor (NNR) subtype known as alpha7. TC-5619 was discovered using Targacept's proprietary drug design technology known as Pentad(TM) and is the lead product candidate in its alpha7 NNR program.

"The entry of TC-5619 into the clinic further demonstrates the breadth and pharmacological diversity of our pipeline of NNR Therapeutics," said J. Donald deBethizy, Ph.D., Targacept's President and Chief Executive Officer. "The broad therapeutic application of the alpha7 NNR is well established and presents multiple opportunities for potential later stage development of TC-5619. We are also excited by the promise of other alpha7 compounds in our portfolio."

The Phase I study is designed to evaluate the safety, tolerability and pharmacokinetics of TC-5619. The trial is a double-blind, placebo-controlled study with single escalating doses of TC-5619 administered orally to healthy volunteers.

The alpha7 NNR is associated with a variety of biological functions. In particular, the alpha7 NNR has been shown in animal studies to be an essential regulator of both inflammation arising from injury or infection and cognitive functions. Published in vitro studies have also suggested that the alpha7 NNR plays a role in protecting neuronal cells from deterioration and death, a process known as neuroprotection.

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. 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 product candidates in development for Alzheimer's disease and cognitive deficits in schizophrenia, pain and depression, and multiple preclinical programs. Targacept is located in Winston-Salem, North Carolina. For more information about Targacept, please visit http://www.targacept.com.

Forward-Looking Statements

Any statements in this press release about strategies, prospects, plans, expectations or objectives for Targacept, Inc., including, without limitation, statements regarding the progress, timing and scope of research and development of TC-5619 and related regulatory filings and clinical trials, and all other statements that are not purely historical in nature, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, the words "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "promise," "continue," "ongoing" and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those expressed or implied by forward-looking statements as a result of various important factors, including our critical accounting policies and risks and uncertainties relating to: the results of clinical trials and non-clinical studies and assessments with respect to TC-5619 or our other 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; our ability to establish additional strategic collaborations; and our ability to obtain, maintain and enforce patent and other intellectual property protection for our product candidates and discoveries. 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, whether as a result of new information, future events or otherwise, we specifically disclaim any obligation to do so, except as required by applicable law. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.

Source: Targacept, Inc.

----------------------------------------------

Targacept
Inc.
Alan Musso
VP and CFO
336-480-2186
[e-mail]
or
For Targacept
Inc.
Linnden Communications
Michelle Linn
508-419-1555
[e-mail]