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news.Targacept, a clinical-stage biopharmaceutical company developing a class of drugs known as NNR Therapeutics, has said that AstraZeneca has secured an option for an exclusive license to Targacept's product candidate under the terms of the parties' collaboration agreement. As a result, AstraZeneca will make a $2 million payment to Targacept.
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Neuronal nicotinic receptors (NNRs) are a class of receptors found in the nervous system that play a critical role in modulating the release of chemicals called neurotransmitters to regulate nervous system activity. The alpha7 NNR subtype has been shown in animal studies to be a key regulator of cognitive function. TC-5619 is the lead product candidate in Targacept’s alpha7 NNR program.
Bob Holland, vice president and head of the neuroscience therapy area, AstraZeneca, said: “Our decision to secure an option to license TC-5619 under our collaboration agreement underscores AstraZeneca’s enthusiasm for the promise of NNRs as a new mechanism for the treatment of cognitive disorders. We are committed to developing novel therapies in areas of unmet need such as Alzheimer’s disease, cognitive deficits in schizophrenia and other cognitive disorders and are delighted to be able to access Targacept’s innovation in this field.”
Donald deBethizy, Targacept’s president and CEO, said: “The progress to date in our AstraZeneca collaboration has been impressive. AstraZeneca’s ongoing phase IIb proof of efficacy trials of AZD3480 in Alzheimer’s disease and cognitive deficits in schizophrenia are together expected to enroll approximately 900 patients, with both trials on track to complete in the H2 of 2008. Beyond that, our funded preclinical research collaboration is yielding additional novel product candidates targeting the alpha4beta2 NNR subtype, and we are now introducing TC-5619, an alpha7 NNR agonist, into the collaboration.”