The association of two pharmacophoric entities generates so-called “twin drugs” or dimer derivatives. We applied this approach for the design of a small compound library for the interaction with α4β2* nicotinic acetylcholine receptors (nAChRs). In this compound series, the nAChR ligand N,N-dimethyl-2-(pyridin-3-yloxy)ethan-1-amine 9 served as one pharmacological entity and it was initially kept constant as one part of the “twin” compound. “Twin” compounds with identical or non-identical entities using the “no linker mode” or “overlap” mode were synthesized and evaluated for their nAChR affinities. Compound 17a showed the highest affinity for the α4β2* nAChR subtype (Ki = 0.188 nM) and its (di)fluoro analogs could retain nanomolar affinities, when replacing pyridine as the hydrogen bond acceptor system by mono- or difluoro-phenyls. The “twin drug” approach proved to provide compounds with high affinity and subtype selectivity for α4β2* nAChRs.