Targacept Receives Grant From Michael J Fox Foundation

Targacept has received a grant of over $600,000 from The Michael J Fox Foundation for Parkinson’s Research (MJFF).

The grant, awarded as part of MJFF’s Therapeutics Development, is designed to fund preclinical research involving the use of compounds that modulate neuronal nicotinic receptors, to address Levodopa-induced abnormal involuntary movements (dyskinesias).

Reportedly, the terms of the grant provide for Targacept to receive the funds, as the research is performed over an expected period of one year.

Donald deBethizy, president and CEO of Targacept, said: “We are honored to receive this grant and inspired by MJFF’s commitment to finding new solutions to meet the needs of patients with Parkinson’s disease.”