Targacept Moves to Piedmont Triad Research Park
Winston-Salem, NC
March 04, 2002
Targacept, Inc., a privately held research and development pharmaceutical company focused on medicines for treating diseases of the central nervous system, has moved to a new location in Winston-Salem, N.C.
Effective March 4, Targacept’s new mailing and shipping address is:
Targacept Inc.
200 East First Street, Suite 300
Winston-Salem, NC 27101-4165
Main Telephone: 336-480-2100
Main Fax: 336-480-2107
Targacept was previously located at a research facility owned by R.J. Reynolds Tobacco (NYSE: RJR), the company from which it was spun off in August 2000.
“We wanted to establish an independent headquarters and laboratory facility that would be suitable for a growing pharmaceutical company,” said J. Donald deBethizy, Ph.D., President and CEO of Targacept. “This new facility will support our mission of researching and developing therapeutic products that minimize human suffering.”
Targacept’s new headquarters and laboratory building, called One Technology Place, is located in the Piedmont Triad Research Park, a community of emerging and established businesses in biotechnology, pharmaceuticals and other high-technology businesses. Targacept is leasing the top two floors of the building from Wake Forest University School of Medicine, which purchased the facility a year ago and upfitted office and laboratory areas for Targacept’s use.
“Targacept could have been headquartered anywhere in the world,” noted Dr. deBethizy. “We chose Winston-Salem because of the excellent quality of life here and the commitment to high-tech growth by city and county government leaders, the universities, and local business organizations.”
Targacept was established in 1997 as a wholly owned subsidiary of R.J. Reynolds Tobacco Company (NYSE: RJR). It was spun out in August 2000, in one of the largest ($30.4 million) first-round venture capital financings in U.S. biotech history and the largest in North Carolina biotech history.
Targacept has product candidates in development for treating Alzheimer’s disease, Parkinson’s disease, ulcerative colitis, depression, pain and Lewy body dementia, among others. The company has strategic alliances with Aventis Pharmaceuticals of Strasbourg, France and Dr. Falk Pharma of Freiburg, Germany to develop and commercialize selected Targacept compounds. The company currently has 56 employees and expects to grow to nearly 80 employees by year-end. Targacept was named Pharmaceutical Company of the Year by NCEITA in 2001.
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