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Clinical Study of Intermezzo(R) for the Treatment of Middle of the Night Awakening Published in SLEEP
Date:10/22/2008

stration."

About the Proposed Transcept and Novacea Merger

On August 29, 2008, Transcept Pharmaceuticals, Inc. and Novacea, Inc. (Nasdaq: NOVC) entered into a definitive merger agreement under which Novacea will merge with Transcept in an all-stock transaction. Assuming a close near the end of 2008, the combined company is expected to have an estimated cash balance of $88 to $92 million. Further information on the merger agreement is available in the last section of this press release, entitled "Additional Information about the Merger and Where to Find It."

About SLEEP

SLEEP is the official publication of the Associated Professional Sleep Societies, LLC (APSS) a joint venture of the American Academy of Sleep Medicine and the Sleep Research Society. A reprint of the study can be viewed online at http://www.journalsleep.org/ViewAbstract.aspx?citationid=3662.

About Transcept Pharmaceuticals

Transcept Pharmaceuticals is a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the fields of psychiatry and sleep medicine. The lead Transcept product candidate, Intermezzo(R), is a sublingual low dose formulation of zolpidem that has been developed for use as-needed for the treatment of insomnia when a middle of the night awakening is followed by difficulty returning to sleep. Intermezzo(R) Phase 3 clinical trials have been completed and, on September 30, 2008, Transcept submitted a New Drug Application for Intermezzo(R) to the U.S. Food and Drug Administration.

For further information, please visit the company's website at:
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SOURCE Transcept Pharmaceuticals, Inc.
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