Transcept Pharmaceuticals Receives $10M Milestone Payment from Purdue for Listing of Intermezzo Formulation Patents in FDA Orange Book

Transcept Pharmaceuticals, Inc.

announced today that it has received a $10 million milestone payment from Purdue Pharma L.P. in connection with the listing of Intermezzo formulation patents in the FDA Orange Book on December 15, 2011. The milestone payment was made under the terms of the agreement between Purdue and Transcept for the commercialization of Intermezzo in the United States. Purdue plans to launch Intermezzo in the second quarter of 2012 and to invest approximately $100 million to support sales and marketing during the first year of commercialization.