Thursday, March 3, 2011
Targacept Announces Termination of Strategic Alliance Agreement with GSK
Targacept announced the termination of its strategic alliance agreement with GlaxoSmithKline, effective in May 2011. Following termination of the agreement, Targacept will have full rights to its programs subject to the alliance, including compounds discovered or advanced as part of the alliance. The two companies entered into an agreement in 2007 with the goal to discover, develop and market novel therapeutics that selectively target specified neuronal nicotinic receptors in five therapeutic focus areas--pain, smoking cessation, addiction, obesity and Parkinson's disease. Read more.