Targacept wowed analysts with newly released Phase IIb data for depression drug candidate TC-5214, making a big splash at a meeting of the Society for Neuroscience and causing shares in the company to shoot up 16percent Friday. (BioWorld Today)

Privately held Paratek Pharmaceuticals Inc. has found another partner to help develop its antibiotic PTK 0796 for life-threatening infections, this time joining with Swiss drugmaker Novartis AG in a deal valued at up to $485 million. (BioWorld Today)