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Targacept Announces Designation of Lead Compound in Smoking Cessation Program 

Targacept, Inc. (NASDAQ:TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics (TM), today announced the designation of a lead compound in its smoking cessation program, triggering a $500,000 milestone payment under its alliance agreement with GlaxoSmithKline (GSK).

"We are delighted to have successfully leveraged our expertise in NNRs to bring forward a novel compound for smoking cessation, an area that is not only a major healthcare need but also where application of the NNR mechanism has been validated commercially," said J. Donald deBethizy, President and CEO of Targacept. "Emerging science has made the promise of NNR-targeted compounds as smoking cessation aids increasingly evident. It is important for a smoking cessation aid to specifically target the areas of the brain that serve as pathways for addiction, while addressing limitations of currently available products by minimizing unwanted side effects."

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