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Transdel Pharmaceuticals Announces Exploration of Strategic Alternatives
Date:2/1/2011

LA JOLLA, Calif., Feb. 1, 2011 /PRNewswire/ -- Transdel Pharmaceuticals, Inc. (OTC Bulletin Board: TDLP), a specialty pharmaceutical company focused on developing topically administered products using its proprietary transdermal delivery platform, today announced that the Company has been exploring strategic alternatives aimed at enhancing shareholder value with two investment banks, American MedTech Advisors and ESC Advisors, a division of KEMA Partners.  The goal of this engagement is to continue further development of TDLP-110 (aka Ketotransdel®), the Company's lead late stage pain product.

Transdel has completed the first Phase 3 trial for TDLP-110, and has presented the key data in support of efficacy and safety at the 13th World Congress on Pain in Montreal, Canada, in September 2010.  The Company believes that TDLP-110 has an opportunity to be the first topical ketoprofen product approved in the U.S. and also to become a 'best in class' product in the growing topical NSAID market.

Strategic alternatives the Company may pursue could include, but are not limited to, partnering or other collaboration agreements, a merger, a equity or debt financing, sale of the Company or other strategic transactions.  There can be no assurance that the exploration of strategic alternatives will result in any agreements or transactions, or that, if completed, any agreements or transactions will be successful or on attractive terms. The Company does not intend to disclose developments with respect to this process unless and until the evaluation of strategic alternatives has been completed or the board of directors has approved a specific transaction.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, any securities of the Company, prior to the registration or qualification for
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SOURCE Transdel Pharmaceuticals, Inc.
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