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Targacept, Inc., a biopharmaceutical company, engages in the design, discovery, and development of drugs for the treatment of multiple diseases and disorders of the central nervous system. As of December 31, 2006, the company had four clinical-stage product candidates and three preclinical product candidates in its product portfolio. Its product candidates are in development as treatments for target indications in three therapeutic areas: cognitive impairment, depression and anxiety, and pain. The company principally offers Inversine, which is approved for marketing for the management of moderately severe to severe essential hypertension, a high blood pressure disorder. Its product candidates include TC-1734, a Phase II clinical trial completed product for the treatment of Alzheimer's disease, cognitive deficits in schizophrenia, and other conditions characterized by cognitive impairment, such as attention deficit hyperactivity disorder, age associated memory impairment, and mild cognitive impairment. Targacept's product candidates also include TC-2696 for acute post-operative pain; mecamylamine hydrochloride, the active ingredient in Inversine; and TC-5214, one of the enantiomers of mecamylamine hydrochloride; TC-2216, a phase I product for depression and anxiety disorders; and TC-5619 for various conditions, such as schizophrenia, cognitive impairment, and inflammation. The company has a collaborative research and license agreement with AstraZeneca AB for development and commercialization of TC-1734 to treat Alzheimer's disease, cognitive deficits in schizophrenia, and other cognitive disorders. Targacept was founded in 1997 and is based in Winston-Salem, North Carolina.