Transcept Pharmaceuticals to Present at Two Upcoming Conferences

–BIO-Europe Spring(R) 2009 in Milan, Italy–

–Cowen and Company 29th Annual Health Care Conference in Boston, MA–

PT. RICHMOND, Calif., March 2 /PRNewswire-FirstCall/ — Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT) announced today that the Company will present at two upcoming conferences:

• Glenn A. Oclassen, President and Chief Executive Officer, will present at Bio-Europe Spring(R) 2009, to be held at the Milano Convention Centre (MIC) in Milan on Tuesday, March 17, 2009, at 4:30 p.m. CET (10:30 a.m. ET).
• Thomas P. Soloway, Senior Vice President and Chief Financial Officer, will present at the Cowen and Company 29th Annual Health Care Conference, to be held at the Boston Marriott Copley Place in Boston, MA, on Tuesday, March 17, 2009, at 9:30 a.m. ET.

An audio webcast of Mr. Soloway’s presentation will be available live and archived for 30 days at http://www.transcept.com/.

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 field of neuroscience. On January 30, 2009, Transcept completed a merger with Novacea, Inc. As part of the transaction, Novacea changed its name to “Transcept Pharmaceuticals, Inc.” and its NASDAQ ticker symbol to “TSPT.” The combined company resources resulting from the merger are expected to enable Transcept to successfully commercialize its lead product candidate, Intermezzo(R). If approved, Intermezzo(R) is positioned to be the first commercially available sleep aid specifically for use in the middle of the night when patients awaken and have difficulty returning to sleep. Intermezzo(R) Phase 3 clinical trials have been completed and, on September 30, 2008, Transcept submitted a New Drug Application (NDA) for Intermezzo(R) to the U.S. Food and Drug Administration (FDA) which was accepted for filing on December 15, 2008. The FDA has assigned a PDUFA date of July 30, 2009, to the Intermezzo(R) NDA.

For further information, please visit the company’s website at: www.transcept.com.

Safe Harbor

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Transcept disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. Examples of such statements include, but are not limited to, statements relating to Intermezzo(R) being the first commercially available sleep aid in its target indication. Such statements are based on management’s current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to: positive results in clinical trials may not be sufficient to obtain FDA approval; physician or patient reluctance to use Intermezzo(R), if approved; potential alternative therapies; maintaining adequate patent or trade secret protection without violating the intellectual property rights of others; and other difficulties or delays in, or unexpected expenses incurred in connection with, obtaining regulatory approval, market acceptance and commercialization of Intermezzo(R).

    Contacts:

    Transcept Pharmaceuticals, Inc.
    Michael Gill
    Director of Communications
    (510) 215-3575
    mgill@transcept.com

    The Ruth Group
    Investors / Media
    Stephanie Carrington / Jason Rando
    (646) 536-7017 / 7025
    scarrington@theruthgroup.com
    jrando@theruthgroup.com

SOURCE Transcept Pharmaceuticals, Inc.