Targacept Begins Trial of Candidate for Neuropathic Pain

Targacept has started a Phase I trial of neuropathic pain candidate TC-6499.

The double-blind, placebo-controlled study will evaluate the safety, tolerability and pharmacokinetics of TC-6499.

The initiation of the trial triggers a $6 million milestone payment to Targacept under the terms of its agreement with GlaxoSmithKline. Targacept said it is eligible to receive an additional milestone payment if it advances TC-6499 to Phase II.