J. Donald deBethizy, Ph.D. President and CEO

J. Donald deBethizy, Ph.D., is a co-founder of Targacept, Inc. and has served as President and Chief Executive Officer since its spinout from R. J. Reynolds Tobacco Company in August 2000; he has also served as Targacept's President since its inception in 1997.  Previously, Dr. deBethizy held positions of increasing responsibility at RJR, including Vice President of Product Evaluation, Research and Development, where he was responsible for development, regulatory affairs and market introduction of reduced risk products.

At Targacept, Dr. deBethizy continues to play a key role in development of a portfolio of clinical stage novel small molecules targeting central nervous system diseases, and in developing business relationships with AstraZeneca, Aventis, Dr. Falk Pharma and GlaxoSmithKline.  Dr. deBethizy led Targacept’s Initial Public Offering (IPO) in April, 2006, raising $45 million; during Targacept's years as a private company, he was instrumental in raising $123 million in venture capital.

Dr. deBethizy co-authored Innovation That Fits:  Moving Beyond the Fads to Choose the Right Innovation Strategy for Your Business published by Prentice Hall. He is also the author of numerous peer-reviewed scientific articles and book chapters. Dr. deBethizy was recognized by Ernst & Young as Emerging Company Entrepreneur of the Year in 2002 for his leadership in founding Targacept. In June of that year, Targacept was also the subject of a Best Practice case study article in the Harvard Business Review entitled Spinning Out a Star.

Within the Winston-Salem community, he is currently on the board of directors of the Piedmont Triad Research Park, United Way of Forsyth County, and Winston Salem Chamber of Commerce, and on the Board of Visitors of Winston-Salem State University. He has also served on the boards of Forsyth Technical Community College Foundation and Piedmont Triad Entrepreneurs Network (PTEN). Dr. deBethizy was recently elected to the Emerging Companies Section Governing Body of the Biotechnology Industry Organization (BIO). In December, 2006, he joined the Board of Directors of LigoCyte Pharmaceuticals.