Targacept is a biopharmaceutical company engaged in the design, discovery and development of a new class of drugs to treat diseases and disorders of the central nervous system. It is a leader in the field of neuronal nicotinic acetylcholine receptor chemistry and biology. NNRs are found on nerve cells throughout the nervous system and serve as key regulators of nervous system activity. Targacept s product candidates are designed to selectively target specific NNR subtypes and promote therapeutic effects and limit adverse side effects. Targacept has product candidates in clinical development for cognitive impairment, including Alzheimer s disease and age-associated memory impairment, pain and depression. From 1997 to 2000, Targacept was a subsidiary of R. J. Reynolds Tobacco Company. During this time, the company s investigations into the biological effects of nicotine suggested a role for NNRs in the treatment of human disease and led to the creation of Targacept.