Transcept Announces Results Of Special Meeting

Transcept Pharmaceuticals, Inc.

announced today that, based upon the final vote count certified by the independent inspector of elections for the special meeting of stockholders held October 28, 2014, shareholders approved all of the merger-related proposals, including: (i) the merger and issuance of Transcept common stock pursuant to the Agreement and Plan of Merger and Reorganization, dated June 30, 2014, by and among Transcept, Tigris Merger Sub, Inc., Tigris Acquisition Sub, LLC and Paratek Pharmaceuticals, Inc., (ii) effecting a one-for-twelve reverse stock split of Transcept common stock, and (iii) changing the name of the Company from "Transcept Pharmaceuticals, Inc." to "Paratek Pharmaceuticals, Inc." "We are very pleased with the overwhelmingly affirmative vote at today's Special Meeting of stockholders concerning our merger with Paratek and we now look forward to working with their team to close this transaction," stated Glenn A. Oclassen, President and Chief Executive Officer.