Cornerstone earns $75M licensing pact

Winston-Salem, NC-based Targacept has inked a $75 million licensing pact for Cornerstone Therapeutics' patents and preclinical programs that target nicotinic receptors. But in keeping with the early-stage focus, Targacept is only putting up $1.5 million to get the pact underway." We expect to use the proceeds from this and other transactions to fund additional product acquisitions to enhance our continued growth," said Cornerstone CEO Craig Collard. Cornerstone release

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