WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics (TM), today announced that it has been awarded a grant of over $600,000 from The Michael J. Fox Foundation for Parkinson's Research (MJFF). The grant, which was awarded as part of MJFF’s Therapeutics Development Initiative for Spring 2009, is designed to fund preclinical research involving the use of compounds that modulate neuronal nicotinic receptors to address Levodopa-induced abnormal involuntary movements, known as dyskinesias. The terms of the grant provide for Targacept to receive the funds as the research is performed over an expected period of one year.
