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Transcept Pharmaceuticals Appoints John Kollins As Senior Vice President And Chief Business Officer

POINT RICHMOND, Calif., June 4, 2012 /PRNewswire/ -- Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT), a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience, announced today that John A. Kollins will join the Company, effective June 1, 2012, and serve as Senior Vice President and Chief Business Officer. In this new position, Mr. Kollins will have primary responsibility for business and corporate development activities and report to Glenn A. Oclassen, President and Chief Executive Officer of Transcept.

"We are very pleased to welcome John to the Transcept management team," stated Mr. Oclassen. "John is an accomplished biopharmaceutical industry professional with proven expertise in the field of neuroscience. His ability to build our product portfolio will be an important asset as Transcept pursues its goal to become a specialty pharmaceutical company focused on the field of neuroscience."

Mr. Kollins, 49, has more than 20 years of industry experience. Prior to joining Transcept, Mr. Kollins provided strategy, business development and transaction services to life science companies via Parnassus Advisors, the consulting and advisory firm he established, and Locust Walk Partners. From 2007 to 2009, he served successively as Chief Business Officer, Chief Operating Officer, and Chief Executive Officer and Director of OXiGENE, a publicly-held biopharmaceutical company. From 2005 to 2007, Mr. Kollins served as a consultant to investment firm GRT Capital Partners' healthcare fund, and to the life science companies CovX and Entelos. From 1989 to 2005, Mr. Kollins served in executive, business development and product management roles of increasing responsibility at Immunex Corporation, Elan Pharmaceuticals (Athena Neurosciences), SurroMed, and CovX. Mr. Kollins holds a B.S.E. in mechanical engineering and materials science from Duke University and an M.B.A. from the Darden School at the University of Virginia.

About Transcept PharmaceuticalsTranscept Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience. Intermezzo® (zolpidem tartrate) sublingual tablet C-IV is the first FDA approved Transcept product. Purdue Pharma holds commercialization and development rights for Intermezzo in the United States. Transcept is currently conducting a Phase 2 study of an investigational product, TO-2061, in patients with obsessive-compulsive disorder. For further information about Transcept, please visit www.transcept.com. For information about Intermezzo, please visit www.IntermezzoRx.com.

Forward looking statementsThis press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, projected expenses, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to the following: our plan to become a specialty pharmaceutical company focused on the field of neuroscience. Transcept may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in our forward-looking statements and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Transcept makes, including the following: achieving acceptance of Intermezzo by physicians, patients and third party payors; supplying sufficient quantities of Intermezzo from third party manufacturers and suppliers to meet anticipated market demand; the impact of competitive products and the market for Intermezzo generally; our dependence on our collaboration with Purdue Pharma; obtaining, maintaining and protecting regulatory exclusivity and intellectual property protection for Intermezzo; the availability of additional pharmaceutical products for acquisition or in-licensing; and the ability of Transcept to obtain additional funding, if needed, to support its business activities. These and other risks are described in greater detail in the "Risk Factors" section of Transcept periodic reports filed with the SEC. Forward-looking statements do not reflect the potential impact of any future in-licensing, collaborations, acquisitions, mergers, dispositions, joint ventures, or investments Transcept may enter into or make. Transcept does not assume any obligation to update any forward-looking statements, except as required by law.

ContactTranscept Pharmaceuticals, Inc. Greg MannSenior Director, Corporate Communications(510) 215-3567 gmann@transcept.com

SOURCE Transcept Pharmaceuticals, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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