Winston-Salem-based Targacept reports profit

Winston-Salem-based Targacept brought in net income of $14.5 million in the second quarter, up from a loss of $2.3 million a year earlier.

In its second-quarter earnings report, the company said it is currently in the midst of three Phase 2 trials and is expecting results from a drug targeting attention deficit/hyperactivity disorder next month. Other trials are aimed at schizophrenia and Alzheimer's disease, and the company is evaluating a potential trial related to Parkinson's disease.

Don deBethizy resigns as Targacept CEO

Targacept Inc. said today that Don deBethizy has resigned as chief executive and president, effective immediately. He also stepped down from its board of directors.

Targacept is an anchor tenant in the Piedmont Triad Research Park in downtown Winston-Salem. It develops drugs based on its understanding of nicotinic receptors to treat diseases of the central nervous system.

Gayle Anderson, president and chief executive of the Winston-Salem Chamber of Commerce, said deBethizy helped put the local community in a prominent place on the nation's biotechnology map.

"He has been a cheerleader for Winston-Salem and for creating a knowledge-based economy here," Anderson said. "We will miss his energy, enthusiasm and vision."

AstraZeneca moving ahead with Targacept drug

AstraZeneca will move ahead with a Phase 2 trial of a Targacept depression drug that could lead to a new treatment for Alzheimer's disease.

The drug, known as AZD1446, is the product of a research collaboration between the Winston-Salem-based Targacept (NASDAQ: TRGT) and pharmaceutical giant AstraZeneca (NYSE: AZN). It is thought to act on a kind of receptor in the brain known as a neuronal nicotinic receptor, and the planned trial would test it alongside the existing drug donepezil in patients with mild to moderate Alzheimier's. Donepezil is sold under the brand name Aricept. Read more.

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.

Targacept CEO & President to speak at SciTech Lecture, March 17th, 2011.

Forsyth Tech Community College and the National Center for the Biotechnology Workforce present in celebration of Forsyth Tech's 50th Anniversary, the SciTech Lecture Series.

Dr. Don deBethizy CEO & President of Targacept will speak on "The Targacept Story: From the Bench to the Clinic". 4PM March 17th, 2011 in the Ardmore Auditorium, Forsyth Tech Main Campus - 2100 Silas Creek Parkway, Winston-Salem, NC.
This lecture is FREE and open to the public.

Hear scientists, researchers and industry thought leaders explore how science and technology are combining to change our world.

For further information please contact Mona Cofer or call her at 336.734.7205.

Targacept begins phase 2 trials for anti-inflammatory drug compound

Targacept, Inc., a clinical-stage biopharmaceutical company located in Winston-Salem's Piedmont Triad Research Park will begin separate Phase 2 clinical studies of its drug compound TC-6987 for treatment of asthma and Type 2 diabetes. Read more here.

Targacept CEO to ring NASDAQ bell

Targacept CEO Don deBethizy will ring the closing bell for the NASDAQ stock exchange on Thursday.

DeBethizy will be in New York to visit the NASDAQ MarketSite in Times Square, where the stock exchange has its well-known 7-story electronic display and broadcast studio.

Read more here.

Winston + Salem = Arts and Innovation

Read this in-depth article in Winston-Salem Monthly magazine about the history of the city's efforts to grow its technology sector. From the article:

The Twin City's wealth of higher education gives us a competitive edge in the 21st century and is part of what makes its Piedmont Triad Research Park, an innovation community for life sciences and information technology, so dynamic and flush with collaborative opportunities. "Life outside the lab makes all the difference," the park's website states. "The city of Winston-Salem nurtures intellectual and business opportunities, stimulating its residents' creativity and their visions for the future."

Read the entire article here.

Targacept Celebrates 10th Anniversary

There is a comprehensive article in today's Winston-Salem Journal about Targacept and the work they are doing to find treatments for Alzheimer's. From the article:

As research extends into higher-level clinical trials involving patients, Targacept is adding to its work force. After spinning out with 24 employees, it expects to hire at least 35 this year to get to 150.

Read more here.