GSK ends neuroscience research alliance
pharmafile | March 7, 2011 | News story | Research and Development | GSK, GlaxoSmithKline, Targacept, neuronal nicotinic receptors, neuroscience research
GlaxoSmithKline has severed a strategic alliance formed in July 2007 with US biopharma company Targacept.
GSK forked out $45 million to Targacept, including a $15 million equity investment, in an agreement to develop treatments for pain, smoking cessation, addiction, obesity and Parkinson’s disease.
Targacept’s field of expertise is in novel therapeutics that selectively target specified neuronal nicotinic receptors (NNR).
In a statement Targacept said: “GSK announced significant strategic changes in the neurosciences area, which ultimately led to the decision to end the alliance.”
Neuroscience and depression were among the research areas which GSK said a year ago it would be abandoning because it felt they were less likely to bear fruit.
This was part of a stringent cuts programme designed to save around £500 million, on top of savings from GSK’s previous restructuring, which were designed to deliver £1.7 billion.
While pronouncing itself “disappointed” with the news, Targacept is putting on a brave face. “Our alliance with GSK provided us with substantial funding at a key time in Targacept’s evolution,” said chief executive J. Donald deBethizy.
“With more learning comes more opportunity, and the number of potential therapeutic applications for NNR therapeutics continues to grow,” he added. “We are energised to have increased flexibility to apply our resources where emerging science dictates.”
Targacept’s other big alliance is with AstraZeneca, which whom it has candidates in depression and cognitive disorders.
Termination of the GSK agreement will be complete in May, and Targacept will then have full rights to all the compounds discovered or advanced as part of the alliance.
In terms of book-keeping, it will put $17.6 million into the accounts for the first quarter of 2011. This money was recorded initially as deferred revenue.
Last month AstraZeneca and Targacept began a phase IIb trial of nicotinic channel blocker TC-5214 as a ‘switch’ monotherapy for major depressive disorder (MDD).
They are also carrying out a phase III study for TC-5214 as an adjunctive treatment for MDD. The companies have other, less well-advanced, candidates in Alzheimer’s and ADHD.
“Our programmes in Parkinson’s disease and related disorders and in smoking cessation remain of great interest to us, and we look forward to continued progress in these areas of high unmet medical need,” deBethizy concluded.
Adam Hill
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