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Targacept to Present at the Lazard Capital Markets 6th Annual Healthcare Conference

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Targacept to Present at the Lazard Capital Markets 6th Annual Healthcare Conference

Winston-Salem, North Carolina

November 11, 2009

Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics™, today announced that J. Donald deBethizy, Ph.D., President and Chief Executive Officer, is scheduled to present at the Lazard Capital Markets 6th Annual Healthcare Conference at the St. Regis Hotel in New York City on Wednesday, November 18, 2009 at 11:00 a.m. Eastern Standard Time.

Dr. deBethizy’s presentation will be webcast and accessible from the Investor Relations page of the Company’s website at www.targacept.com.  The webcast will also be available for replay on the Company’s website for at least two weeks following the conference. To ensure a timely connection, it is recommended that users register at least 15 minutes prior to the scheduled start time.

About Targacept

Targacept is a clinical-stage biopharmaceutical company that discovers and develops NNR Therapeutics™, a new class of drugs for the treatment of central nervous system diseases and disorders. Targacept's product candidates selectively modulate neuronal nicotinic receptors that serve as key regulators of the nervous system to promote therapeutic effects and limit adverse side effects. Targacept has clinical-stage product candidates in development for major depressive disorder, attention deficit/hyperactivity disorder, Alzheimer's disease and cognitive dysfunction in schizophrenia, as well as multiple preclinical programs.  Targacept has a cognition-focused collaboration with AstraZeneca and a strategic alliance with GlaxoSmithKline. Targacept’s news releases are available on its website at www.targacept.com.

Contacts:

Alan Musso, VP and CFO     
Targacept, Inc.      
Tel: (336) 480-2186 
Email:  alan.musso@targacept.com    

Michelle Linn
Linnden Communications
Tel: (508) 362-3087
Email: linnmich@comcast.net


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