Press Releases

WINSTON-SALEM, N.C.--(BUSINESS WIRE)-- Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics(TM), announced that Targacept management will conduct a conference call and audio webcast today at 10:00 a.m. Eastern Standard Time regarding the company's global collaboration with AstraZeneca for late-stage product candidate TC-5214 for the treatment of major depressive disorder which was announced earlier this morning.

The conference call may be accessed by dialing 866-700-7173 for domestic participants and 617-213-8838 for international callers (reference passcode 63585633). A replay of the conference call may be accessed beginning approximately two hours after the event and continuing through December 17, 2009 by dialing 888-286-8010 for domestic callers 617-801-6888 for international callers (reference passcode 39947014).

A live audio webcast of the conference call will be accessible from the Investor Relations page of Targacept's website, www.targacept.com. To ensure a timely connection to the webcast, it is recommended that users register at least 15 minutes prior to the scheduled start time. An archived version of the webcast will also be available on Targacept's website for at least two weeks following the call.

About Targacept

Targacept is a clinical-stage biopharmaceutical company that discovers and develops NNR Therapeutics(TM), a new class of drugs for the treatment of central nervous system diseases and disorders, in support of its vision of building health and restoring independence for patients. Targacept's product candidates selectively modulate neuronal nicotinic receptors that serve as key regulators of the nervous system to promote therapeutic effects and limit adverse side effects. Targacept has clinical-stage product candidates in development for major depressive disorder, attention deficit/hyperactivity disorder, Alzheimer's disease and cognitive dysfunction in schizophrenia, as well as multiple preclinical programs. Targacept also has a cognition-focused collaboration with AstraZeneca and a strategic alliance with GlaxoSmithKline. Targacept's news releases are available on its website at www.targacept.com.

    Source: Targacept, Inc.

SAN FRANCISCO, Dec. 3 /PRNewswire/ -- Vista Partners announced today that it has initiated coverage on Emission & Power Solutions, Plc with a one year price target of euro 3.02. Zachary Cave, a Senior Analyst at Vista Partners stated, "The Company has the ability to ramp revenues quickly and we believe investors will be handsomely rewarded by purchasing shares of EPS at the current valuation. They will be investing on the 'ground floor' of a business that has the opportunity not only to revolutionize emission and engine efficiency but to protect the environment as well." To download a free copy of the report, please visit the Vista Partners website, www.vistap.com and click on the download research icon.

About Vista Partners:

Vista Partners provides independent, equity research to institutional and individual investors, with a focus on publicly traded small capitalization companies. With offices in Los Angeles, San Francisco and Bend, Vista Partners is one of the fastest growing independently owned equity research firms. Vista Partners professional staff has backgrounds in finance, corporate communications and investment banking. More information is available at www.vistap.com.

Contact:
Vista Partners LLC
Emily Gilbert
(310) 744-5268
info@vistap.com
www.vistap.com

SOURCE Vista Partners

LONDON & WINSTON-SALEM, N.C.--(BUSINESS WIRE)-- AstraZeneca and Targacept, Inc. today announced a collaboration and license agreement for the global development and commercialization of TC-5214, Targacept's late-stage investigational product for major depressive disorder (MDD). TC-5214, which recently completed a phase IIb clinical trial, is a nicotinic channel blocker that is thought to treat depression by modulating the activity of various neuronal nicotinic receptor (NNR) subtypes.

Major Depressive Disorder is a common illness, affecting approximately 42 million people worldwide, and the global antidepressant market is valued at over $20 billion. Serotonin reuptake inhibitors (SSRIs) are the most commonly prescribed class of drugs for depression, but many patients fail to respond adequately. The NIMH STAR*D study suggests that approximately 63 percent of patients do not achieve remission with first-line SSRI treatment.

Under the agreement, AstraZeneca will make an upfront payment to Targacept of $200 million upon effectiveness and up to an additional $540 million if specified development, regulatory and first commercial sale milestones are achieved. Targacept will also be eligible to receive up to $500 million if specified sales related milestones are achieved as well as significant stepped double-digit royalties on net sales worldwide. Targacept has retained an option for a co-promotion of TC-5214 to a limited target physician audience in the US. Effectiveness of the agreement is contingent on expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

AstraZeneca and Targacept will jointly design a global phase III clinical program anticipated to begin in mid 2010 with the goal of filing a new drug application (NDA) with the US Food and Drug Administration (FDA) in 2012. TC-5214 is being developed as an adjunct to antidepressant therapy in adults with MDD who do not respond adequately to first-line antidepressant treatment. The companies will also initiate a phase II study exploring TC-5214 as a monotherapy for MDD. AstraZeneca will be responsible for 80% of the cost of the initial global development program, with Targacept responsible for the remaining 20%. AstraZeneca will be responsible for and will fund the costs of global commercialization of TC-5214, and will assume Targacept's manufacturing and supply agreements with third parties in relation to TC-5214. The agreement also provides for a specified period for the parties to negotiate a potential multi-year research program that would be conducted by Targacept to identify and develop additional NNR Therapeutics for MDD and possibly other indications.

David Brennan, Chief Executive Officer of AstraZeneca said: "The opportunity to improve treatment in depression is a large one, both commercially and in terms of benefits for patients. It's an area both AstraZeneca and Targacept know well and I'm pleased to be adding another late stage project to our pipeline."

J. Donald deBethizy, Ph.D., President and Chief Executive Officer of Targacept, said: "We are delighted to have selected AstraZeneca to work with us to meet our goal of advancing TC-5214 into late-stage development and bringing a new mechanistic approach for the treatment of depression to the millions of patients who do not respond well to first-line antidepressant therapy and need relief. Targacept and AstraZeneca have an established track record of successful collaboration and today's agreement demonstrates our shared dedication to excellence in the field of neuroscience."

Targacept and AstraZeneca previously entered into a global collaboration focused on cognitive disorders in 2005. Three product candidates in the collaboration are currently in clinical development; including AZD3480 for attention deficit/hyperactivity disorder (ADHD), AZD1446 planned for Alzheimer's disease, and TC-5619, for cognitive dysfunction in schizophrenia.

About TC-5214

Scientific evidence suggests that depressive symptoms are associated with an overstimulation of NNRs and other receptors in the brain that are activated by the neurotransmitter acetylcholine. This overstimulation is referred to as increased cholinergic tone. TC-5214 has properties that modulate forms of NNR subtypes thought to be involved in the increased cholinergic tone associated with depression. In particular, TC-5214 blocks certain NNR channels. TC-5214 is the subject of issued patents that expire in the US and all major EU markets in 2020 and 2019, respectively. Additional patent term may be available via applicable patent term restoration laws. Targacept would be required to pay a percentage of amounts received from AstraZeneca under the agreement with respect to TC-5214 to the University of South Florida Research Foundation under the terms of an existing license agreement.

About TC-5214 phase IIb data

The recently completed phase II trial for TC-5214 in subjects who did not respond adequately to first-line treatment with the SSRI citalopram alone showed the primary outcome measure [mean change between treatment (TC-5214 + citalopram) and placebo (Placebo + citalopram) from baseline on the HAM-D*] and all secondary measures were statistically significant in favor of TC-5214 on an intent to treat basis. During this phase II trial, the most frequent adverse events were headache, dizziness and constipation. There was no clinically significant difference between the dose groups in discontinuations due to adverse events.

About Targacept

Targacept is a clinical-stage biopharmaceutical company that discovers and develops NNR Therapeutics(TM), a new class of drugs for the treatment of central nervous system diseases and disorders, in support of its vision of building health and restoring independence for patients. Targacept has clinical-stage product candidates in development for major depressive disorder, attention deficit/hyperactivity disorder, Alzheimer's disease and cognitive dysfunction in schizophrenia, as well as multiple preclinical programs. In addition to its collaboration with AstraZeneca, Targacept has a strategic alliance with GlaxoSmithKline. Targacept's news releases are available on its website at www.targacept.com.

NNR Therapeutics(TM) is a trademark of Targacept, Inc.

About AstraZeneca

AstraZeneca is a major international healthcare business engaged in the research, development, manufacturing and marketing of meaningful prescription medicines and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US$ 31.6 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infectious disease medicines. For more information about AstraZeneca, please visit: www.astrazeneca.com.

Forward Looking Statements

This press release includes "forward-looking statements" made under the provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements other than statements of historical fact regarding, without limitation: the upfront or other payments that Targacept may receive from AstraZeneca; the progress, scope or duration of the development of TC-5214, such as the size, design, conduct or objective of any clinical trial and the timing for initiation or completion of or availability of results from any clinical trial; the timing for filing of a new drug application for TC-5214; the benefits that may be derived from TC-5214; and the indication(s) for which TC-5214, AZD3480, AZD1446 or TC-5619 may be developed. Actual results may differ materially from those expressed or implied by forward-looking statements as a result of various important factors, including, without limitation, risks and uncertainties relating to: AstraZeneca's right to terminate the collaboration and license agreement for TC-5214 prior to effectiveness if expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act does not occur by March 1, 2010, whether due to the September 30, 2012 NDA submission deadline under Section 505(u) of the Federal Food, Drug, and Cosmetic Act to enable the election of TC-5214 as a new chemical entity entitled to five years of marketing exclusivity or for any other reason; the risk of any delay to the initiation of further clinical development of TC-5214 arising from discussions with regulatory authorities; Targacept's dependence on the success of its collaboration with AstraZeneca for TC-5214; the conduct and results of clinical trials and non-clinical studies and assessments of TC-5214, including the performance of AstraZeneca or third parties engaged to execute such trials, studies and assessments, delays resulting from any changes to the applicable protocols and difficulties or delays in the completion of subject enrollment or data analysis; reliance on third party contract manufacturers for the manufacture and supply of TC-5214 and clinical trial material for development of TC-5214; the timing of discussions with regulatory authorities and the timing and success of submission, acceptance and approval of regulatory filings. These and other risks and uncertainties are described in greater detail under the heading "Risk Factors" in Targacept's most recent Annual Report on Form 10-K, in its subsequently filed Quarterly Reports on Form 10-Q and in other filings that it makes with the Securities and Exchange Commission. As a result of the risks and uncertainties, the results or events indicated by the forward-looking statements may not occur. Targacept cautions you not to place undue reliance on any forward-looking statement.

In addition, any forward-looking statement in this press release represents Targacept's views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Targacept disclaims any obligation to update any forward-looking statement, except as required by applicable law.

    Source: Targacept, Inc.

Companies to Cooperate on M2M Business Development, Marketing Activities and Other Projects

MUNICH & BONN, Germany--(BUSINESS WIRE)-- Cinterion Wireless Modules, the global leader in cellular machine-to-machine (M2M) communication modules, and Deutsche Telekom AG, announced today they signed a strategic partnership to collaboratively manage M2M customer projects and promote the sustainable development of the M2M marketplace. The agreement allows the two companies to leverage their complementary core strengths and vertical market know-how to further strengthen their position in the global M2M landscape.

"Cooperation with manufacturers that are well established in their market is an important brick in the international M2M strategy of Deutsche Telekom," said Rainer Deutschmann, Senior Vice President Mobile products, Deutsche Telekom AG. "Over the years, we've had a close and successful relationship with Cinterion, the leading company for wireless modules. Our collaboration enriches our strong network of partners in the M2M environment and benefits our customers who receive the best service and solutions possible. We look forward to working more closely with Cinterion in the future to provide our common customers around the globe with compelling solutions."

"I am convinced that Cinterion and Deutsche Telekom offer outstanding professional competence by combining their forces," said Norbert Muhrer, CEO Cinterion Wireless Modules. "We'll work together to reduce complexity and total cost of ownership as well as speed time to market and provide reliable and long-lasting, stable solutions. The partnership is another example of Cinterion's commitment to providing forward-thinking and sustainable solutions for our customers ahead of the competition."

Cinterion Wireless Modules and Deutsche Telekom signed this formal agreement to further expand their proven past relationship. With this agreement, they are strengthening their partnership and commitment to common product offerings, business development and sales activities in the growing M2M market. The companies will align their product portfolios and collaborate on joint customer activities. By combining their significant individual strengths and resources to meet shared business goals and activities, the companies intend to increase overall market penetration of wireless M2M solutions and services and accelerate the demand for implementing M2M technology.

About Cinterion Wireless Modules

Cinterion Wireless Modules is the worldwide leading supplier of cellular machine-to-machine (M2M) communication modules and combines unparalleled M2M engineering expertise and localized worldwide customer support with a strong portfolio of high-quality GSM, GPRS, EDGE, UMTS and HSPA products. Cinterion is a reliable partner and valued by many vertical market customers for its award-winning modules which enable machines, equipment and vehicles to communicate over wireless networks helping enterprises dramatically cut costs and increase productivity and efficiency. Cinterion products are carrier and FTA approved and used for industries including remote maintenance and control; metering; payment systems; industrial PDAs; routers and gateways; security systems; health care; automotive and eToll; tracking and tracing; environmental monitoring and more. The firm's global headquarters are in Munich, Germany with sales and support offices in local markets around the world. For more information, please visit: www.cinterion.com.

About Deutsche Telekom

Deutsche Telekom is one of the leading integrated telecommunications companies worldwide with groupwide more than 148 million mobile customers, around 40 million fixed-network lines and almost 17 million broadband lines (as at: June 30, 2009). With its product brands T-Home (fixed-network telephony, broadband Internet), T-Mobile (mobile communication) and T-Systems (ICT solutions) Deutsche Telekom is positioned as international provider of connected life and work services. The group is present in around 50 countries throughout the world with around 261,000 employees (as at: June 30, 2009). In 2008, Deutsche Telekom generated revenues of EUR 61.6 billion of which more than 50% were generated outside Germany. Further information is available at www.telekom.com.

    Source: Cinterion Wireless Modules

AUSTIN, TX -- (MARKET WIRE) -- 12/03/09 -- United States Oil & Gas Corporation (PINKSHEETS: USOG) a growing oil and gas products, services and technology company, today announced a new research report has been issued on the company by Grass Roots Research and Distribution, Inc., Wall Street's leading independent research firm, with a "BUY" recommendation and a $0.15 long term price target.

For the full report please visit Grass Roots Research and Distribution's website: www.grassrootsrd.com

About Grass Roots Research and Distribution

Led by D. Paul Cohen, Grass Roots Research and Distribution, Inc. is one of Wall Street's ELITE Independent Research Firms. As founder of Bear Stearns Western Regional Offices, Paul Cohen was one of the original 12 Dirty Dozen analysts, regarded by many to be the top 12 security analysts in the nation. Mr. Cohen was also the West Coast Senior Vice President of CBWL-Hayden Stone-American Express. Mr. Cohen's partners were Sanford I. Weill (past Chairman and CEO of CitiGroup and past Chairman of Solomon Smith Barney) and Arthur Levitt (past Chairman of the Securities and Exchange Commission (SEC)).

Cohen Independent Research Group and Grass Roots Research and Distribution, Inc. includes nine contracted PhD's (three with MD's), two MD's, six CFA's (chartered financial analysts), three with CPA's (certified public accountant) and 21 analysts covering most industries. The backbone of the fundamental research targeted at stock investment includes investigative research into significant corporate events, thorough review of SEC filings, in depth financial analysis, valuations, and management profiles. The Cohen Financial and Valuation Model, an analytical and portfolio management system, is a 100+ page income statement model with 7 equity valuation and 3 cash flow analytical models. The model covers 9,000 public companies.

About United States Oil & Gas Corp. (PINKSHEETS: USOG)

United States Oil & Gas Corp. is focused on the domestic oil and gas services sector, acquiring oil and gas services companies with historically profitable results, strong balance sheets, high profit margins, and solid management teams in place. USOG also develops innovative technologies to increase oil and gas extraction with the smallest environmental footprint. Wholly owned subsidiary Turnbull Oil generated $16.5 million in revenue in fiscal year 2008.

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. USOG has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect USOG's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause USOG's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. USOG undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

Contact:
Investor Relations:
+1-512-464-1255
Email Contact
United States Oil & Gas Corp.
11782 Jollyville Road, Suite 211B
Austin, Texas 78759, USA
www.usaoilandgas.com