AstraZeneca is again turning its back on some projects developed alongside Targacept, handing back several preclinical assets but holding onto a once-promising Alzheimer's disease treatment that may have some use in another indication.
After a steady drumbeat of setbacks over the past two years, the Winston-Salem, NC-based biotech says it will tamp down the last spade of dirt on TC-5619 after the therapy--which already failed a study for ADHD--flunked the primary as well as secondary endpoints in a Phase IIb study for schizophrenia.
AstraZeneca has further culled the ranks of its experimental CNS meds. The London-based drug giant cut ties with two programs from its U.S. partner Targacept, including one compound in mid-stage development for mild to moderate cases of Alzheimer's disease, while gaining unfettered development options for a group of other Targacept candidates.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Alison Bryant (email | Twitter) and we will feature it...
A string of setbacks in the clinic and on the business front has forced troubled Targacept to once again take out the budget ax. This time management aimed at the company's laboratory as execs cut back on the burn yet again to help conserve a considerable cache of cash.
A very bad year for Targacept just got worse. The biotech announced this morning that a mid-stage study of its program for attention deficit/hyperactivity disorder--ADHD--failed to achieve statistical significance.
The company announced deBethizy's departure on Monday, saying that Chairman Mark Skaletsky and a trio of Targacept executives have been tapped to lead operations during the board's hunt for a new CEO.
AstraZeneca's newly hatched iMed unit is in business.
The late-stage collapse of Targacept's depression drug--TC-5214--will cost the jobs of close to half of the biotech's staffers, with 65 workers getting pink slips today.
AstraZeneca and Amgen struck a collaboration deal today designed to strengthen each company where it needed help the most.