Winston-Salem, NC Nov 16, 2001
Targacept, Inc., a privately held research and development pharmaceutical company focused on neuronal nicotinic receptor-based therapeutics, was honored by the North Carolina Electronics and Information Technologies Association (NCEITA) as the 2001 Health/Pharmaceutical Company of the Year.
The award was presented at the 7th annual NCEITA 21 awards ceremony, held last night at the North Raleigh Hilton. The NCEITA 21 Awards are the oldest and most prestigious technology industry awards in the state. These awards are given annually in 21 categories to the leading companies and individuals in North Carolina's technology industry.
"North Carolina is a global leader in the technologies industry, demonstrated tonight by these brilliant people and outstanding companies," said Joan Myers, president of NCEITA, at the ceremony.
"We are extremely excited to have been awarded the Health/Pharmaceutical Company of the Year award from NCEITA 21," said Don deBethizy, Ph.D., President and CEO of Targacept. "Health, pharmaceutical, biotechnology and other life science companies are fueling substantial growth in North Carolina, and information technology is critical to the work we do," he said.
"In one year as an independent company, we’ve more than doubled our employee base, and expect to grow even more next year," deBethizy said.
Ernst & Young, one of the world’s leading professional services organizations, conducted the screening process of this year’s NCEITA nominees. A panel comprised of past NCEITA chairpersons conducted the final selection of award winners.
About NCEITA:
NCEITA is a not-for-profit membership-driven organization classified as a 501 (c) 6 trade association. NCEITA also has a 501 (c) 3 education foundation which operates and manages its educational programming. NCEITA is the primary voice of the Information Technologies industry in North Carolina dedicated to promoting and strengthening the electronics, telecommunications, software, Internet and related service industries through increased public awareness, and to provide a forum to learn, educate, communicate, promote, network and implement actions. For more information, visit http://www.nceita.org.
About Targacept, Inc.
Targacept, Inc., which is based in Winston-Salem, is a world leader in neuronal nicotinic receptor (NNR) research and development. Targacept is dedicated to the design, discovery and development of a new class of drugs that will treat some of the world’s most critical diseases, including Alzheimer’s disease, Parkinson’s disease, ulcerative colitis and others. The company’s intellectual property includes over 60 issued and pending patents related to NNR technology, and Pentad™, a powerful drug discovery platform. Targacept was established in 1997 as a wholly owned subsidiary of R.J. Reynolds Tobacco Company (NYSE: RJR), and was spun out in August 2000, in one of the largest ($30.4 million) first-round venture capital financings in U.S. biotech history.
Targacept has strategic alliances with Aventis Pharmaceuticals of Strasbourg, France and Dr. Falk Pharma of Freiburg, Germany to develop and commercialize Targacept compounds.