Targacept Raises $33 Million in Private Placement
Winston-Salem, NC
December 08, 2004
Targacept, Inc., a central nervous system-focused biopharmaceutical company, announced today the closing of a $33 million private placement to existing investors. The financing was led by Nomura Phase4 Ventures, based in London. Targacept will use the proceeds of the financing in the clinical development of its lead product candidates.
About Targacept
Targacept is a biopharmaceutical company engaged in the design, discovery and development of a new of drugs to treat multiple diseases and disorders of the nervous system by selectively targeting neuronal nicotinic acetylcholine receptors, or NNRs. NNRs are found on nerve cells throughout the nervous system and serve as key regulators of nervous system activity. Targacept’s product candidates are designed to selectively target specific NNR subtypes to promote positive medical effects while limiting or eliminating adverse side effects. In addition to a marketed product, Inversine, Targacept has four product candidates in clinical development and multiple ongoing preclinical programs. Targacept is located in Winston-Salem, North Carolina and currently has approximately 73 employees.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security. The private placement described herein having been completed, this announcement appears as a matter of record only.
Alan Musso, VP and CFO
Targacept, Inc.
Tel: 336.480.2186
Email: alan.musso@targacept.com
Ernie Knewitz
Euro RSCG Life NRP
Tel: 212.845.4253
Email: ernie.knewitz@eurorscg.com
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