GSK Ends Pact With Targacept

GlaxoSmithKline and Targacept have ended their research collaboration, which was established in 2007 to find compounds that target neuronal nicotinic receptors. The pact is a casualty of ongoing shifts in internal R&D at GSK, which is paring its neurosciences research. Targacept regains full rights to the compounds discovered during the agreement, which centered on five therapeutic areas: pain, smoking cessation, addiction, obesity, and Parkinson’s disease. GSK paid Targacept $45 million throughout the lifetime of the agreement, a figure that includes a $15 million equity investment. When announced in 2007, the deal was touted as worth up to $1.5 billion in milestones for Targacept.