Targacept receives grant for developing alpha6*-selective NNR Imaging Agent as Parkinson’s disease biomarker

Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics (TM), today announced that it has been awarded a grant of $304,000 from The Michael J. Fox Foundation for Parkinson's Research (MJFF). The grant is to fund a project entitled: “Development of an alpha6*-selective Neuronal Nicotinic Receptor (NNR) Imaging Agent as a Parkinson’s Disease Biomarker” and is the second awarded to Targacept by MJFF in the last six months.

“Development of an alpha6*-selective Neuronal Nicotinic Receptor (NNR) Imaging Agent as a Parkinson’s Disease Biomarker”

The terms of the grant provide for Targacept to receive the award as the funded research is performed over an expected period of one year. Daniel Yohannes, Ph.D., Targacept’s Director of Drug Discovery, will serve as Principal Investigator for the research.

Disease biomarkers are distinctive biological features or changes that are consistently different in people with Parkinson’s disease as compared to people without Parkinson’s disease. Identifying one or more disease biomarkers could allow researchers to diagnose earlier, track disease progression and identify appropriate subjects for clinical trials. Drug biomarkers are critical for objectively assessing whether a given drug is reaching areas of interest in the brain or achieving a desired effect.

“Biomarker research could prove to be very valuable in the development of novel therapeutics for Parkinson’s disease. We are delighted to receive a second grant from The Michael J. Fox Foundation for another unique research aim. This further highlights the breadth of our research platform and its application to many different diseases and disorders,” said J. Donald deBethizy, Ph.D., Targacept's President and Chief Executive Officer.