Transcept Pharmaceuticals Statement on Unsolicited Acquisition Proposal from Retrophin, Inc.

 Transcept Pharmaceuticals Statement on Unsolicited Acquisition Proposal from
                               Retrophin, Inc.

PR Newswire

POINT RICHMOND, Calif., Sept. 25, 2013

POINT RICHMOND, Calif., Sept. 25, 2013 /PRNewswire/ -- Transcept
Pharmaceuticals, Inc. (NASDAQ: TSPT) today announced that it has rejected an
unsolicited proposal from Retrophin, Inc. to acquire all of the outstanding
shares of Transcept for $4.00 per share in cash. The Board of Directors of
Transcept, in consultation with its financial and legal advisors, evaluated
Retrophin and its proposal and concluded that pursuing this unsolicited
overture is not in the best interests of Transcept or its stockholders.

Leerink Swann LLC is acting as financial and strategic advisor to Transcept.
Latham & Watkins LLP is acting as the Transcept legal advisor.

About Transcept, Inc.
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 are forward-looking
statements. Examples of such statements include, but are not limited to,
statements relating to Transcept prospects and the future value of Transcept
for its stockholders. Various important factors could cause actual results or
events to differ materially from the forward-looking statements that Transcept
makes, including the risks described 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.

Contacts:
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
 
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