Thomas J. Dietz, Ph.D., Appointed To The Transcept Pharmaceuticals Board Of Directors

 Thomas J. Dietz, Ph.D., Appointed To The Transcept Pharmaceuticals Board Of
                                  Directors

PR Newswire

POINT RICHMOND, Calif., April 10, 2013

POINT RICHMOND, Calif., April 10, 2013 /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, today
announced that Thomas J. Dietz, Ph.D., Chairman and CEO of Waypoint Holdings,
LLC, a financial holdings and services company, has joined the board of
Transcept Pharmaceuticals as an independent director effective April 10, 2013.

Dr. Dietz has more than 20 years of experience supporting the biopharma
industry and the institutional investment community. Prior to his current
role as Chairman and CEO of Waypoint Holdings, Dr. Dietz was co-CEO and then
CEO and a Director of Pacific Growth Equities, LLC, a San Francisco-based
investment bank and institutional brokerage firm from 2004 to 2009, when the
firm was acquired by Wedbush Securities. Dr. Dietz served as head of the
investment banking division at Webush until November 2010. Prior to becoming
CEO at Pacific Growth, Dr. Dietz served as the firm's Director of Equities
Research and was an award-winning biotechnology and biopharmaceutical
analyst. Dr. Dietz joined Pacific Growth in 1993. Previously, he was a
member of the research faculty in the Department of Medicine, University of
California, San Francisco and the VA Medical Center. Dr. Dietz is a member of
several national societies and currently serves as Chairman of Galleon
Pharmaceuticals, Inc. and Director of Glialogix, Inc. as well as on the boards
of trustees of several non-profit organizations, including the West Bay Region
board of the Sutter Health System that includes California Pacific Medical
Center, San Francisco. Dr. Dietz holds a Ph.D. in molecular biology and
biochemistry from Washington University, St. Louis, and was a National Science
Foundation Post-Doctoral Fellow.

"The addition of Tom Dietz further enhances the Board's already strong
pharmaceutical industry expertise," stated Glenn Oclassen, President and Chief
Executive Officer. "Tom brings a track-record of success and deep industry
knowledge, and his viewpoint and advice will be important as we move through
the next stage of our corporate development."

"Transcept Pharmaceuticals has a unique asset in Intermezzo, an experienced
management team and a strong balance sheet," stated Dr. Dietz. "I look
forward to working with the Transcept board and team to capitalize upon these
assets and to create shareholder value."

About Transcept

Transcept 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 holds commercialization and development rights for Intermezzo
in the United States. For further information about Transcept, please visit
www.transcept.com. For information about Intermezzo, please visit
www.MyIntermezzo.com.

Forward looking statements

This 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 Transcept moving into the next stage of its corporate
development and expectations regarding the ability to create shareholder
value. 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; obtaining,
maintaining and protecting regulatory exclusivity and intellectual property
protection for Intermezzo; our ability to identify and finance additional
product candidates for in-licensing or acquisition; 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.

Contact:
Transcept Pharmaceuticals, Inc.
Leone Patterson
Vice President, Chief Financial Officer
(510) 215-3500
lpatterson@transcept.com

SOURCE Transcept Pharmaceuticals, Inc.

Website: http://www.transcept.com