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Targacept to receive milestone payment from GlaxoSmithKline

Targacept, a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics, has announced the designation of a lead compound in its smoking cessation program, triggering a $500,000 milestone payment under its alliance agreement with GlaxoSmithKline.

Neuronal nicotinic receptors (NNRs) are a class of proteins in the nervous system that modulate the levels of key chemical messengers, such as dopamine. Nicotine’s addictive effects have been linked to over-stimulation of dopamine release in brain regions involved in feelings of reward and pleasure.

Donald deBethizy, president and CEO of Targacept, said: “Emerging science has made the promise of NNR-targeted compounds as smoking cessation aids increasingly evident. It is important for a smoking cessation aid to specifically target the areas of the brain that serve as pathways for addiction, while addressing limitations of currently available products by minimizing unwanted side effects.”