Transcept Pharmaceuticals Announces the Promotion of Thomas Soloway to Executive Vice President and Chief Operating Officer
POINT RICHMOND, Calif., April 10, 2012 /PRNewswire/ -- Transcept Pharmaceuticals (TSPT), Inc. (Nasdaq: TSPT), a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience, announced today the appointment of Thomas Soloway to the position of Executive Vice President and Chief Operating Officer.
"Tom has played a key and integral role in the development of Transcept from the time of our founding in 2002. This success would not have been possible without Tom's leadership and energy. His operating skills and strategic insight will be invaluable as we build the long term commercial future of the Company," stated Glenn A. Oclassen, President and Chief Executive Officer of Transcept.
All Transcept senior executives will now report to Mr. Soloway, with the exception of Transcept Chief Scientific Officer and Co-Founder, Nikhilesh Singh, Ph.D., who will continue to report to Mr. Oclassen.
Mr. Soloway joined Transcept as a co-founder in 2002 and previously served as Senior Vice President, Operations and Chief Financial Officer until this promotion. Prior to Transcept, Mr. Soloway worked nearly a decade in the venture capital industry with Montreux Equity Partners. Mr. Soloway received a Bachelor of Science in Entrepreneurial Studies from the University of Southern California and a Masters of Business Administration from Georgetown University.
Transcept Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in the field of neuroscience. Intermezzo® (zolpidem tartrate) sublingual tablet C-IV is the first FDA approved Transcept product. Purdue holds commercialization and development rights for Intermezzo in the United States. Transcept is currently conducting a Phase 2 study of an investigational product, TO-2061, in patients with obsessive-compulsive disorder. For further information about Transcept, please visit www.transcept.com.
Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Mr. Soloway's impact on the commercial future of Transcept and/or Intermezzo. Transcept and/or Intermezzo may not actually meet the expectations or projections disclosed in our forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Transcept makes, include, but are not limited to, the following: achieving acceptance of Intermezzo by physicians, patients and third party payors; supplying sufficient quantities of Intermezzo from third party manufacturers and suppliers to meet anticipated market demand; the impact of competitive products and the market for Intermezzo generally; our dependence on our collaboration with Purdue; and obtaining, maintaining and protecting regulatory exclusivity and intellectual property protection for Intermezzo. These and other risks are described in greater detail in the "Risk Factors" section of Transcept's Annual Report on Form 10-K filed on March 30, 2012 and other periodic reports filed with the SEC. Forward-looking statements do not reflect the potential impact of any future in-licensing, collaborations, acquisitions, mergers, dispositions, joint ventures, or investments Transcept may enter into or make. Transcept does not assume any obligation to update any forward-looking statements.
Transcept Pharmaceuticals, Inc.
SOURCE Transcept Pharmaceuticals, Inc.