Winston-Salem, North Carolina Nov 29, 2007
Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics (TM), announced today that Julia R. Brown has been elected to its board of directors.
"We are delighted to welcome Julia Brown to the Targacept board of directors," said J. Donald deBethizy, Ph.D., President and Chief Executive Officer. "Julia has served over 30 years in the life sciences industry, gaining particular expertise in commercial operations, corporate planning, international business, licensing and acquisitions and alliance management. We look forward to benefitting from her substantial experience."
Since 2003, Ms. Brown has served as Advisor to the CEO of Amylin Pharmaceuticals, Inc., a biopharmaceutical company focused in metabolic medicine, including diabetes and obesity. From 2000 to 2003, as Amylin’s Executive Vice President, she helped build the company’s commercial organization. Prior to joining Amylin, Ms. Brown was Executive Vice President of Dura Pharmaceuticals, Inc., a specialty respiratory pharmaceutical company, where she was responsible for business development, product acquisitions and corporate strategy. Previously, Ms. Brown spent over 25 years with Eli Lilly and Company in roles of increasing responsibility. She holds a degree in microbiology from Louisiana Tech University.
Ms. Brown is a member of the boards of directors of Labopharm Inc., Mediquest Therapeutics, Inc. and Trius Therapeutics, Inc., as well as the advisory board of CovX Pharmaceuticals. Previously, she served on the board of directors of Tanox, Inc. from 2005 until its acquisition by Genentech earlier this year. She is currently a member of the board of directors of CONNECT, an organization that fosters innovation, entrepreneurship and the formation of new high technology and life science companies in San Diego. She is a member of Tech Coast Angels, an investor network that provides funding and guidance to early stage, high-growth companies in Southern California; Corporate Directors Forum, a nonprofit organization that promotes high standards of professionalism in corporate governance; and Athena, an organization affiliated with UC San Diego’s Rady School of Management that promotes the interests of women in technology, life science and healthcare industries. Ms. Brown received director certification from the Directors Institute at UCLA’s Anderson School of Management in 2003.
About Targacept
Targacept is a clinical-stage biopharmaceutical company that discovers and develops NNR Therapeutics (TM), 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 product candidates in development for Alzheimer's disease and cognitive deficits in schizophrenia, pain, and depression and anxiety disorders, multiple preclinical programs, and strategic alliances with AstraZeneca and GlaxoSmithKline. Targacept's news releases are available on its website at www.targacept.com.
Forward-Looking Statements
Any statements in this press release about expectations, plans and prospects for Targacept, Inc. and all other statements that are not purely historical in nature constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied by forward- looking statements as a result of various important factors, including the risks and uncertainties described under the heading “Risk Factors” in our most recent Annual Report on Form 10-K, in our subsequent Quarterly Reports on Form 10-Q and in other filings that we make with the Securities and Exchange Commission. As a result of the risks and uncertainties, the results or events indicated by the forward-looking statements may not occur. We caution you not to place undue reliance on any forward-looking statement. In addition, any forward-looking statements in this release represent our views only as of the date of this release and should not be relied upon as representing our views as of any subsequent date. We anticipate that subsequent events and developments may cause our views to change. Although we may elect to update these forward-looking statements publicly at some point in the future, whether as a result of new information, future events or otherwise, we specifically disclaim any obligation to do so, except as required by applicable law.
Contacts:
Alan Musso, VP and CFO
Targacept, Inc.
Tel: (336) 480-2186
Email: alan.musso@targacept.com
Michelle Linn
Linnden Communications
Tel: (508) 419-1555
Email: linnmich@comcast.net