Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Transcept Pharmaceuticals, a specialty pharmaceutical company, has completed its merger with biopharmaceutical company Novacea. Upon the closing of the merger transaction, Novacea changed its name to Transcept Pharmaceuticals and its Nasdaq ticker symbol to TSPT.
Subscribe to our email newsletter
The merger creates a late-stage, publicly traded specialty pharmaceutical company engaged in the development and commercialization of proprietary products that address important therapeutic needs in the fields of psychiatry and sleep medicine.
The newly merged company is led by Glenn Oclassen, president and CEO, and the current Transcept management team. Kirk Raab is chairman of the new Transcept 10-member board of directors, which includes three former Novacea directors, Camille Samuels, Fred Ruegsegger and John Walker. In addition, Jake Nunn will join the board as a new director. Other board members are Mr Oclassen, Chris Ehrlich, Thomas Kiley, Kathleen LaPorte, and Daniel Turner III.
Mr Oclassen said: The combined company resources that result from this merger are expected to enable us to carry out our plans to successfully commercialize our lead product candidate, Intermezzo, which, if approved, 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.