GSK Ends Pact With Targacept | March 14, 2011 Issue - Vol. 89 Issue 11 | Chemical & Engineering News
Volume 89 Issue 11 | p. 22 | Concentrates
Issue Date: March 14, 2011

GSK Ends Pact With Targacept

Department: Business
Keywords: GSK, Targacept, neuroscience

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.

 
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