AstraZeneca plans to progress Targacept's AZD1446 as treatment for AD

Targacept, Inc. (NASDAQ:TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics™, today announced that AstraZeneca has informed the company that it plans to progress the development of Targacept's product candidate AZD1446 as a treatment for Alzheimer's disease.

AZD1446 is a selective modulator of the alpha4beta2 neuronal nicotinic receptor that arose out of a research collaboration conducted by Targacept and AstraZeneca. Under the terms of a 2005 collaborative research and license agreement, AstraZeneca is responsible for conducting and funding the development and potential commercialization of AZD1446. The next clinical trial of AZD1446 is expected to be a Phase 2 study as an adjunct treatment to donepezil in patients with mild to moderate Alzheimer's disease.

"AstraZeneca's decision to invest further in the development of AZD1446 reflects well on the continued promise of the alpha4beta2 NNR mechanism in Alzheimer's disease," said J. Donald deBethizy, Ph.D., President and Chief Executive Officer of Targacept. "The planned evaluation of AZD1446 as an augmentation treatment in Alzheimer's disease complements Targacept's ongoing Phase 2b study of AZD3480 as a monotherapy as we and AstraZeneca strive to provide an effective treatment for this major unmet medical need."