Targacept Scientists to Present at Neuroscience 2012

Targacept Scientists to Present at Neuroscience 2012

Targacept, Inc.Alan Musso, 336-480-2186SVP, Finance and Administration and CFOorLinnden CommunicationsMichelle Linn, 508-362-3087

Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics ™, today announced that its scientists are scheduled to make several poster presentations at Neuroscience 2012, the 42 annual meeting of the Society for Neuroscience, being held in New Orleans from October 13 through October 17, 2012. The data to be presented are based on research conducted over the last year and provide additional support for the potential of NNR Therapeutics as a novel treatment approach for multiple diseases and disorders.

Targacept scientists are scheduled to make a total of nine presentations at the conference, providing data for compounds such as:

A complete list of the presentations is available upon request.

Targacept is developing a diverse pipeline of innovative NNR Therapeutics™ for difficult-to-treat diseases and disorders of the nervous system. NNR Therapeutics selectively modulate the activity of specific neuronal nicotinic receptors, unique proteins that regulate vital biological functions that are impaired in various disease states. Targacept’s clinical pipeline includes multiple Phase 2 product candidates, all representing first-in-class opportunities. Targacept leverages its scientific leadership and diverse pipeline to attract significant collaborations with global pharmaceutical companies. For more information, please visit .

TARGACEPT

Building Health, Restoring Independence®

The Society for Neuroscience (SfN) is a nonprofit membership organization of scientists and physicians who study the brain and nervous system. Since its inception in 1969, the Society has grown from 500 members to over 40,000. Today, SfN is the world's largest organization of scientists and physicians devoted to advancing understanding of the brain and nervous system.

This press release includes “forward-looking statements” made under the provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements other than statements of historical fact regarding, without limitation: presentations by Targacept scientists at the 42nd annual meeting of the Society for Neuroscience; the medical benefits of NNR Therapeutics; or Targacept’s plans and expectations. Actual results, performance or experience may differ materially from those expressed or implied by any forward-looking statement as a result of various important factors, including without limitation the conduct and results of clinical trials or non-clinical studies and assessments of AZD1446, TC-8831 and other Targacept product candidates; Targacept’s ability to protect its intellectual property; and the timing and success of submission, acceptance and approval of regulatory filings. These and other risks and uncertainties are described in greater detail under the heading “Risk Factors” in Targacept’s most recent Annual Report on Form 10-K and in other filings that it makes with the Securities and Exchange Commission. As a result of the risks and uncertainties, the results or events indicated by the forward-looking statements may not occur. Targacept cautions you not to place undue reliance on any forward-looking statement.

In addition, any forward-looking statement in this press release represents Targacept’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Targacept disclaims any obligation to update any forward-looking statement, except as required by applicable law.

NNR Therapeutics™ and Building Health, Restoring Independence® are trademarks or service marks of Targacept, Inc. Any other service marks, trademarks and trade names appearing in this press release are the properties of their respective owners.

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