Transcept Pharmaceuticals Announces Intent to Submit New Drug Application for Intermezzo(R) in Third Quarter 2008

PT. RICHMOND, Calif., June 4 /PRNewswire/ -- Transcept Pharmaceuticals, Inc., a specialty pharmaceutical company deriving significant new patient benefits from proven CNS drugs, announced today that it has completed all pivotal and supporting clinical trials that will be included in the new drug application (NDA) for its lead product candidate, Intermezzo(R). Following its pre-NDA meeting with the U.S. Food and Drug Administration (FDA) on April 2, 2008, Transcept now expects to submit the Intermezzo(R) NDA in the third quarter of 2008.

Transcept's meeting with the FDA was triggered by the Company's successful completion of a second Phase 3 clinical trial of Intermezzo(R) (3.5 mg zolpidem tartrate sublingual lozenge), a low dose buffered sublingual formulation designed to treat insomnia in patients who awaken in the middle-of-the-night (MOTN) and have difficulty returning to sleep. The randomized, double-blind, placebo-controlled outpatient study involving 294 patients met its primary endpoint of significantly reducing time to sleep onset vs. placebo.

In addition to the Phase 3 outpatient study, Transcept has also completed a Phase 3 double-blind, placebo-controlled crossover sleep-lab study of Intermezzo(R) involving 82 insomnia patients. As announced in June 2007, the sleep-lab study demonstrated that Intermezzo(R) 3.5 mg significantly shortened time to sleep onset in comparison to placebo in patients experiencing middle-of-the-night awakenings. Compared to placebo, patients on the 3.5 mg dose also reported statistically significant improvements in total sleep time, sleep efficiency, subjective number of awakenings post-dose, sleep quality, refreshing sleep, and next day ability to function. Overall, Intermezzo(R) was well tolerated in both Phase 3 studies, and exhibited a safety profile similar to placebo.

Glenn A. Oclassen, President and Chief Executive Officer of Transcept, commented, "Based on the clinical trial data from our two Phase 3 studies and from additional studies of Intermezzo(R), we believe that our low dose, sublingual formulation of zolpidem, which shows rapid onset in clinical studies, has the potential to offer an entirely new approach to the treatment of patients who wake up in the middle-of-the-night and find it difficult to get back to sleep. We look forward to submitting the Intermezzo(R) NDA this fall."

About Middle of the Night Awakenings

Middle-of-the-night (MOTN) or nocturnal awakenings have been reported to be one of the most common sleep problems, affecting approximately one-third of the adult population. According to a recent epidemiological study ("Nocturnal awakenings and comorbid disorders in the American general population" -- Journal of Psychiatric Research (in press), Maurice M. Ohayon, MD, DSc, PhD.), nocturnal awakenings are the most frequently reported insomnia symptom in the general population, with 35 percent of Americans experiencing awakenings at least three times per week and 23 percent waking up at least once every night. Ninety percent of the MOTN insomnia population report that their pattern of nocturnal awakenings persists for at least six months and 50 percent report such insomnia problems lasting more than 5 years. Currently, there is no approved PRN ("taken as needed") treatment for MOTN awakenings.

About Transcept Pharmaceuticals

Transcept Pharmaceuticals, Inc. is a specialty pharmaceutical company deriving significant new patient benefits from proven CNS drugs. Transcept development projects leverage new understanding of CNS conditions to provide additional uses and enhanced clinical benefits for existing active agents. The lead Transcept product candidate, Intermezzo(R) (zolpidem tartrate lozenge), is a low dose formulation of zolpidem for the treatment of insomnia in patients who awaken in the middle of the night and have difficulty returning to sleep. Transcept is also developing TO-2060, a novel, fixed-dose combination of olanzapine and ondansetron for the treatment of dopamine associated psychiatric disorders. For further information, please visit the Company's website at: http://www.transcept.com.

SOURCE Transcept Pharmaceuticals, Inc.

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