Business Services Industry
Targacept, a spinoff of R.J. Reynolds Tobacco aimed at finding medicinal uses for nicotine. (Regional Report: Triad).(Targacept Inc. receives venture capital funding)(Brief Article)
Business North Carolina, March, 2003
WINSTON-SALEM -- Targacept, a spinoff of R.J. Reynolds Tobacco aimed at finding medicinal uses for nicotine, has landed $46 million in venture capital. Financing was led by Nomura International's Healthcare Private Equity Group, based in London. Targacept will use the money to continue its research into neurological, psychiatric and gastrointestinal diseases.
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