The termination will be effective in May 2011.
After the termination, Targacept is expected to have full rights to its programs subject to the alliance, including compounds discovered or advanced as part of the alliance.
Targacept president and CEO Donald deBethizy said their alliance with GSK provided them with substantial funding at a key time in Targacept’s evolution, helping them stay at the forefront of NNR research and grow the pipeline of novel product candidates with diverse NNR pharmacologies.
"While we are disappointed that we will be no longer working with our colleagues at GSK, we are energized to have increased flexibility to apply our resources where emerging science dictates," deBethizy said.