AstraZeneca and Targacept will be moving ahead with the development of the investigational compound AZD1446 as a treatment for Alzheimer's disease.
Targacept has welcomed the decision of its partner to advance its evaluation of AZD1446 as an adjunct treatment to donepezil in Alzheimer's patients, demonstrating the potential promise of therapies targeting the alpha4beta2 NNR mechanism.
AZD1446 is a selective modulator of the alpha4beta2 neuronal nicotinic receptor that was jointly developed by the two companies, with a collaborative research and license agreement for the drug having been signed in 2005.
Under the terms of this deal, AstraZeneca takes responsibility for conducting and funding the development and potential commercialisation of the innovative therapy.
Dr J Donald deBethizy, president and chief executive officer of Targacept, said the new plans "complement Targacept's ongoing phase IIb study of AZD3480 as a monotherapy as we and AstraZeneca strive to provide an effective treatment for this major unmet medical need".
Last month, it was announced that AstraZeneca will be providing the UK academic sector with access to its clinical compound library as part of a groundbreaking new alliance with the Medical Research Council.