GSK and Targacept partners in pain

GlaxoSmithKline will gain access to Targacept's two lead candidates for pain: TC-2696, currently in a Phase II post-operative pain study in molar extraction patients, and TC-6499, a preclinical candidate for neuropathic pain, under a deal announced July 27. Partnership includes drugs targeting neuronal nicotinic receptors spanning five therapeutic areas, which also include smoking cessation, obesity, addiction and Parkinson's disease. Deal has a potential value of $1.5 million in addition to an upfront payment of $35 million. Program will be overseen by GSK's Center of Excellence for External Drug Discovery, with Targacept responsible for development of candidates through Phase II proof of concept. AstraZeneca has also partnered with Targacept on an NNR candidate for Alzheimer's, which is in Phase IIb (1"The Pink Sheet," Feb. 6, 2006, p. 19)...