Targacept, Inc. TRGT, a clinical-stage biopharmaceutical company
developing novel NNR Therapeutics (TM), today announced that its collaboration
with AstraZeneca AZN has been restructured. Under the new terms:
* Targacept now has the right to pursue development and commercialization of
any alpha7 NNR modulator in any therapeutic area, including cognitive
disorders and schizophrenia, without obligation to AstraZeneca.
Previously, AstraZeneca held an option to license any such compound that
was developed by Targacept for a cognitive disorder or schizophrenia.
Targacept has several alpha7 NNR modulators in its portfolio.
* AstraZeneca now has the right to develop and commercialize the alpha4beta2
NNR modulators that it has licensed from Targacept under the
collaboration, including AZD1446, in any therapeutic area. Previously,
AstraZeneca's rights with regard to these compounds were limited to
cognitive disorders and schizophrenia.
* AstraZeneca will return to Targacept all rights to the alpha4beta2
modulator TC-1734 (also known as AZD3480), which is currently in a Phase
2b clinical trial in mild to moderate Alzheimer's disease.
“We are pleased to regain unencumbered rights to exploit the alpha7 target, as
recent advances have provided clinical evidence of its relevance in both
schizophrenia and Alzheimer's disease. As appreciation of the potential
therapeutic benefits of this mechanism grows, we believe our leadership
position and library of novel compounds will serve us well,” said Dr. Stephen
A. Hill, Targacept's President and Chief Executive Officer. “With respect to
TC-1734, we plan to continue our ongoing clinical study, which is designed to
reveal conclusively how our compound performs as compared to the market leader
in the treatment of mild to moderate Alzheimer's disease after a year of
treatment. Sadly, new treatment options for Alzheimer's disease have been
elusive, while the need for patients and their caregivers remains immense.”
“The modifications to our agreement remove contractual barriers and enable us
to pursue AZD1446 and the other compounds that we have licensed from Targacept
wherever the science leads us, which we believe increases our chances for
clinical success,” said Dr. Mike Poole, Head, Neuroscience Innovative
Medicines at AstraZeneca.
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