AstraZeneca to continue AZD3480 development

AstraZeneca is to continue in the development of the AZD3480 compound for the treatment of Alzheimer’s disease and cognitive defects in patients with schizophrenia. This decision will result in the company giving Targacept a $20 million (10.2 million pounds) milestone payment, as per the terms of the companies’ partnership agreement.

Targacept reports that AZD3480 has shown potential during nine clinical trials and that the decision from AstraZeneca reflects its commitment to the neuronal nicotinic acetylcholine receptors (NNR) mechanism.

Bob Holland, vice president and head of neuroscience at AstraZeneca, commented that the company was “committed” to the development of novel treatments to treat Alzheimer’s disease and schizophrenia, conditions currently under-served by the pharmaceuticals industry.

“Our decision to continue clinical development of AZD3480 demonstrates our belief in the cognitive-enhancing potential of NNR-targeted therapeutics,” he said

“In addition to the promise of AZD3480, we are very pleased with our research agreement with Targacept,” he continued.

Mr Holland added that the progress made by the companies in their partnership has been “impressive”.

In October, AstraZeneca submitted a mutual recognition procedure filing with the European Union regarding sustained release once-daily formulation of Seroquel for the treatment of schizophrenia.