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Tranzyme Pharma Announces Exploration of Strategic Alternatives

Tranzyme Pharma Announces Exploration of Strategic Alternatives

RESEARCH TRIANGLE PARK, N.C., Feb. 8, 2013 (GLOBE NEWSWIRE) -- Tranzyme, Inc.
(Nasdaq:TZYM) announced today that its Board of Directors has made a
determination to explore and evaluate strategic alternatives, including the
possibility of a merger, sale, other form of business combination, or other
transaction to maximize value to its stockholders.

The Company has not made a decision to pursue any specific transaction or
other strategic alternative, and there is no set timetable for the strategic
review process. There can be no assurance that the exploration of strategic
alternatives will result in the identification or consummation of any
transaction. The Company does not intend to comment further regarding this
process until such time as its Board of Directors has determined the outcome
of the process or otherwise has deemed that disclosure is required or
appropriate.

The Company has retained Stifel as its financial advisor and Skadden, Arps,
Slate, Meagher & Flom LLP as its legal counsel to assist with the strategic
review process.

About Tranzyme Pharma

Tranzyme Pharma is a biopharmaceutical company focused on discovering,
developing and commercializing novel, mechanism-based therapeutics for the
treatment of unmet medical needs. The Company has two preclinical programs,
TZP-201, a motilin antagonist for chemotherapy-induced diarrhea, and TZP-301,
a ghrelin antagonist for the treatment of metabolic diseases. All of
Tranzyme's drug discovery activities are based on its proprietary small
molecule macrocyclic template chemistry (MATCH™) technology, which has also
been successfully used to generate drug candidates in partnership with other
pharmaceutical companies. MATCH™ enables the rapid construction of synthetic
libraries of drug-like macrocyclic compounds that display the desirable
characteristics exhibited by large biomolecules, such as high potency and
selectivity, while maintaining the benefits typically associated with small
molecule drugs, such as high oral bioavailability, favorable PK/ADME
properties and low cost of goods.

Further information about Tranzyme Pharma can be found on the Company's
website at www.tranzyme.com.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. The Company cautions that there can be no assurances that the
strategic review contemplated by the Company will result in a sale of the
Company or other transaction or change in the Company's business or prospects,
or that the Company will determine to proceed with any potential transactions
that may be identified in the course of the strategic review process.
Investors are also cautioned that forward-looking statements involve risks and
uncertainties that may affect the business and prospects of the Company,
including, without limitation: risks related to the Company's research and
development efforts, including the recently announced results of clinical
tests and efforts to identify potential compounds for testing; risks related
to the Company's continued listing on the Nasdaq Global Market; and other
risks and uncertainties that may cause results to differ materially from past
results or those set forth in the forward-looking statements. Although the
Company believes the expectations reflected in any forward-looking statements
are based upon reasonable assumptions, there can be no assurance that its
expectations will be realized. Past performance may not be indicative of
future results. Additional risks and uncertainties are described more fully in
the Company's Form 10-Q for the quarter ended September 30, 2012 filed on
November 9, 2012, as supplemented by the Company's Current Reports on Form 8-K
filed on January 3, 2013, December 17, 2012, December 5, 2012, December 4,
2012, November 28, 2012 and November 15, 2012. The Company does not undertake
any obligation to publicly update any forward-looking statement to reflect
events or circumstances after the date on which any such statement is made or
to reflect the occurrence of unanticipated events.

CONTACT: Corporate Inquiries:
         Susan Sharpe
         Director, Corporate Communications
         (919) 328-1109
         ssharpe@tranzyme.com