Tobacco.org

Euro investors pump $30.4M into RJR spinoff 

Led by New York's EuclidSR Partners, a group of largely British and French investors has pumped $30.4 million in first round financing into pharmaceutical developer Targacept.

The capital infusion will accelerate growth and expand operations at the R.J. Reynolds Tobacco spinoff, according to President and CEO J. Donald deBethizy. "We plan to seek additional strategic alliances with major pharmaceutical partners to develop and commercialize our R&D pipeline," he added.

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