Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,607.98 91.71 0.63%
TOPIX 1,178.17 4.80 0.41%
HANG SENG 22,760.24 64.23 0.28%

New Leaf Venture Partners Affirms Its Support of Roumell Asset Management’s Letter to Transcept Pharmaceuticals’ Board



  New Leaf Venture Partners Affirms Its Support of Roumell Asset Management’s
  Letter to Transcept Pharmaceuticals’ Board

Business Wire

NEW YORK -- September 9, 2013

New Leaf Venture Partners (NLV Partners) announced that the Company has
submitted today a letter to the Board of Directors of Transcept
Pharmaceuticals, Inc., concurring with a 13D filing by Roumell Asset
Management, LLC, which is dated September 5, 2013, and is publicly available.

Transcept Pharmaceuticals developed Intermezzo^® (zolpidem tartrate)
sublingual tablet C-IV, for which Purdue Pharma holds commercialization and
development rights in the United States.

An investor of Transcept Pharmaceuticals through its New Leaf Ventures I, L.P.
fund, NLV Partners has communicated in its letter to the Transcept Board the
following:

“As we have privately conveyed to management in the past, we do not believe
that Transcept’s plan to acquire a new product along with its associated costs
and risks are in the best interests of shareholders. We have not communicated
with individuals associated with Roumell Asset Management, LLC, but on
September 5th, 2013, the organization filed a publicly available 13D. Roumell
Asset Management indicated that they sought ‘an immediate, and meaningful,
buyback program while remaining liquid enough to pursue other possible
Intermezzo strategies. Second, continue to engage Purdue to determine the
future of the Intermezzo relationship. Third, immediately begin to right-size
the business to a smaller company positioned to sell itself once the Purdue
relationship is defined or to simply focus exclusively on Intermezzo with a
much smaller and leaner organization.’

“As fellow shareholders, New Leaf Ventures I, L.P. supports these recommended
measures and would like to see these steps implemented.”

About NLV Partners

New Leaf Venture Partners is a leader in healthcare technology venture
investing. Our investment professionals bring a unique blend of technical,
clinical, and operational experience to our investments, working closely with
our entrepreneurs and management teams to help build successful companies. We
invest in both public and private later-stage biopharmaceutical companies. We
also invest in commercial-stage medical device and healthcare-related
information technology companies.

New Leaf currently manages $1 billion in assets. This includes NLV’s funds,
New Leaf Ventures I, L.P., and New Leaf Ventures II, L.P., as well as the
healthcare technology portfolio of the Sprout Group, one of the oldest U.S.
venture capital fund groups. For more information please visit
http://www.nlvpartners.com.

Contact:

Media:
Burns McClellan on behalf of NLV Partners
Justin Jackson, +1-212-213-0006
jjackson@burnsmc.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement