BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

After a Unsuccessful 2012, Tranzyme Pharma (TZYM) Seeking a Potential Sale


2/8/2013 7:11:46 AM

RESEARCH TRIANGLE PARK, N.C., Feb. 8, 2013 (GLOBE NEWSWIRE) -- Tranzyme, Inc. (TZYM) announced today that its Board of Directors has made a determination to explore and evaluate strategic alternatives, including the possibility of a merger, sale, other form of business combination, or other transaction to maximize value to its stockholders.

The Company has not made a decision to pursue any specific transaction or other strategic alternative, and there is no set timetable for the strategic review process. There can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction. The Company does not intend to comment further regarding this process until such time as its Board of Directors has determined the outcome of the process or otherwise has deemed that disclosure is required or appropriate.

The Company has retained Stifel as its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel to assist with the strategic review process.

About Tranzyme Pharma

Tranzyme Pharma is a biopharmaceutical company focused on discovering, developing and commercializing novel, mechanism-based therapeutics for the treatment of unmet medical needs. The Company has two preclinical programs, TZP-201, a motilin antagonist for chemotherapy-induced diarrhea, and TZP-301, a ghrelin antagonist for the treatment of metabolic diseases. All of Tranzyme's drug discovery activities are based on its proprietary small molecule macrocyclic template chemistry (MATCH(TM)) technology, which has also been successfully used to generate drug candidates in partnership with other pharmaceutical companies. MATCH(TM) enables the rapid construction of synthetic libraries of drug-like macrocyclic compounds that display the desirable characteristics exhibited by large biomolecules, such as high potency and selectivity, while maintaining the benefits typically associated with small molecule drugs, such as high oral bioavailability, favorable PK/ADME properties and low cost of goods.

Further information about Tranzyme Pharma can be found on the Company's website at www.tranzyme.com.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions that there can be no assurances that the strategic review contemplated by the Company will result in a sale of the Company or other transaction or change in the Company's business or prospects, or that the Company will determine to proceed with any potential transactions that may be identified in the course of the strategic review process. Investors are also cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of the Company, including, without limitation: risks related to the Company's research and development efforts, including the recently announced results of clinical tests and efforts to identify potential compounds for testing; risks related to the Company's continued listing on the Nasdaq Global Market; and other risks and uncertainties that may cause results to differ materially from past results or those set forth in the forward-looking statements. Although the Company believes the expectations reflected in any forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Past performance may not be indicative of future results. Additional risks and uncertainties are described more fully in the Company's Form 10-Q for the quarter ended September 30, 2012 filed on November 9, 2012, as supplemented by the Company's Current Reports on Form 8-K filed on January 3, 2013, December 17, 2012, December 5, 2012, December 4, 2012, November 28, 2012 and November 15, 2012. The Company does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Contact:

Corporate Inquiries:

Susan Sharpe

Director, Corporate Communications

(919) 328-1109

ssharpe@tranzyme.com



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES